|
1. What is Filecoin (FIL)?
Name: Filecoin
Symbol: FIL
Overview:
Filecoin is the Airbnb for data.
It is a decentralized data storage network where excess storage can be bought and sold. It is also the incentive & security layer for InterPlanetary File System (IPFS). In simple words, it is a marketplace for unused storage - in consumer hardware and data centres.
In the conventional world, cloud service providers like Amazon Web Services (AWS) and Microsoft Azure provide centralized servers and IP addresses for user data. In the blockchain world, Filecoin uses hash-addressed content structures to reduce redundancy and increase efficiency.
Filecoin is integrated with Ethereum. This enables developers to access Ethereum blockchain data and interact with Ethereum smart contracts.
Filecoin (FIL) is the native crypto of the Filecoin network. It can be used to pay miners to store/distribute data and to retrieve information. Storage providers guarantee a minimum service level by providing FIL as collateral.
Filecoin's token sale took place in 2017 and raised $200+ million.
Consensus mechanism:
Proof-of-replication (PoRep) and Proof-of-spacetime (PoSt).
PoRep enables storage miners to prove that they are physically storing a unique copy of client data. PoSt proves that storage miners are continuing to dedicate storage space to client data over time.
2. Metrics
As of 28 September, its core metrics are:
Price metrics
|
Current Price:
|
$ 57.5
|
|
All-time high (Apr 01, 2021)
|
$ 237.24
|
|
All-time low (Aug 29, 2019)
|
$ 1.83
|
Supply metrics:
|
Circulating supply:
|
109.7 million FIL
|
|
Total supply:
|
109.7 million FIL
|
|
Maximum supply:
|
Unlimited
|
Note:
|
|
Circulating Supply is the number of coins / tokens in public hands.
|
|
|
|
Total supply is the number of coins/tokens created minus the number burned.
|
|
|
|
Maximum supply is the maximum amount of this crypto that can ever exist
|
|
|
|
Figures have been rounded off for convenience
|
Marketcap & Volume metrics:
|
Market Cap:
|
$ 6.3 billion
|
|
Fully Diluted Market Cap:
|
$ 6.3 billion
|
|
Volume (24h):
|
$ 1.7 billion
|
|
Volume / market cap ratio:
|
0.28
|
|
Velocity:
|
15.86
|
Note:
|
|
Market cap = Current Price x Circulating Supply
|
|
|
|
Fully Diluted Market Cap would be the market cap if the maximum supply was in circulation
|
|
|
|
Volume (24h) is the fiat value of this crypto traded over the last 24 hours
|
|
|
|
Dominance measures a crypto's total market capitalization relative to the total market cap of all cryptos
|
|
|
|
Volume / market cap ratio = 24h Volume / Marketcap
|
|
|
|
Velocity = 24h Volume / Circulating Supply
|
|
|
|
Figures have been rounded off for convenience
|
RoI metrics:
|
Year
|
Returns (%)
|
|
2020
|
+298
|
|
2019
|
+73
|
Risk metrics:
|
|
Volatility
|
Sharpe ratio
|
|
Last 30 days
|
1.6
|
-1.13
|
|
Last 90 days
|
1.2
|
0.73
|
|
Last 1 year
|
2.6
|
1.02
|
|
Last 3 years
|
2.5
|
1.1
|
Note:
|
|
Volatility measures the annualized standard deviation of daily returns
|
|
|
|
Sharpe Ratio measures the excess return for a given level of risk
|
3. Wallets
The recommended Filecoin wallet implementations are Lotus and Glif wallet.
Note: The data/graphs are from CoinMarketCap, Messari, and Future Money Wallet. Figures as of 28 September 2021
|
