Juan Benet explained in three sentences:
Filecoin uses “Proof of Replication” and “Proof of Spacetime” to verify that storage providers are actually storing users’ data.
Storage providers must stake FIL as collateral. If they fail to store the data as agreed, part of their collateral will be deducted.
Before putting important files on IPFS, keep in mind that content published there is often visible to anyone. Encrypt sensitive information first.
$FIL 0.6239 (-9.81%)
Make your own decisions when buying and selling—don’t follow the crowd.
Filecoin uses “Proof of Replication” and “Proof of Spacetime” to verify that storage providers are actually storing users’ data.
Storage providers must stake FIL as collateral. If they fail to store the data as agreed, part of their collateral will be deducted.
Before putting important files on IPFS, keep in mind that content published there is often visible to anyone. Encrypt sensitive information first.
$FIL 0.6239 (-9.81%)
Make your own decisions when buying and selling—don’t follow the crowd.