What is Filecoin [Futures]?
The market runs on a blockchain with a native protocol token (also called Filecoin ), which miners earn by providing storage to clients. Filecoin miners compete to mine blocks with sizable rewards, but Filecoin mining power is proportional to active storage, which directly provides a useful service to clients. Filecoin is a decentralized storage network that turns cloud storage into an algorithmic market. Conversely, clients spend Filecoin hiring miners to store or distribute data.
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