filecoin is a decentralized storage network designed to store humanity’s most important information.
Chapter 1 The Global Filecoin Network
Centralized cloud services are spread thinly around the globe.
This leaves billions of users far away from their data…
and allows cloud companies to dictate prices, jurisdictions, and who can use their service.
Instead of a few big players dominating our digital future, we need an open market.
Filecoin connects the world with a new storage and economic model.
No matter the level of existing connectivity…
the Filecoin network puts content and data on every corner..
creating hyper-local and efficient storage.
Now you can finally break free from big centralized storage and limited locations.
Chapter 2 Storing data with Filecoin
A client wants to store data on the Filecoin network.
The client views available storage miners and their market prices
Miners compete to win the storage contract
Client selects winning miners
Chapter 3 Proving storage of files
The deal is made, the client sends the data, and the miner stores it.
To earn filecoin miners must prove they are storing the data properly.
The network verifies data is stored securely through cryptographic proofs.
Miners submit their storage proofs in new blocks to the network..
and validate new blocks sent from the network.
only blocks that are correct are accepted.
Miners earn the deal storage fee over time and have a chance to win block mining rewards.
Chapter 4 Retrieving files from the network
A client wants a file and looks up miners who may have it.
The client selects the fastest or most affordable miner.
Then, the client pays the miner and retrieves the file.
As more people request the file and it becomes more popular..other miners can pick it up and rehost it. this brings the file closer to the users requesting it.
The data is spread to where demand is growing. Access is optimized as the data flows worldwide.
From small mining rigs to advanced data-centers, everyone benefits by working together and providing a robust new foundation for humanity’s information.