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Any opinions on Filecoin??

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by COINS NEWS 31 Views

Ok, so Filecoin (FIL) is a decentralized file storage and sharing network that leverages the power of blockchain to store files... so I was wondering what is the long term prospect of Filecoin as an serious emerging investment project? Does it have any chance against Amazon Web services (AWS) or Microsoft for the matter??

If a hacker can break through the security perimeter of one of these big "centralized" networks, they can access all of the data stored there... my research indicates that the Filecoin supposedly fixes this by storing such data on a decentralized blockchain solution and encrypts it by breaking it into smaller chunks on many multiple different nodes.. am I right?? Decentralized data storage will also increase the efficiency of storage, which will lead to reduced costs..

My research also indicates that it was built atop another file storage and retrieval protocol "Interplanetary File System (IPFS). This platform is very similar to Filecoin but without financial gains (i.e., profit)... So, I guess Filecoin improves the usability of the protocol.

I do predict that data storage is going up in the world... however,. I do know that data storage just seems just very boring and dull to most (average) people, so projects with more hype have taken the spotlight away from Filecoin!!.. but what are your thoughts??.

submitted by /u/Artistic_Dwilko
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