Can the current hosting solutions that allow Internet users to store files in the cloud be improved? Do services like Dropbox have to be centralized? The Filecoin example shows that not necessarily.

All of the popular hosting services that offer Internet users the ability to store files in the cloud are centralized. This means that the files are located on a single server. This situation is favorable for hackers – all they need to do is to gain access to only one server to find themselves in possession of all the files stored on it. Of course, hosting servers have numerous security measures, which are not so easy to break. Nevertheless, if hackers wanted to get their hands on some files, their task would be much easier.

So far, centralized hosting services occupy a dominant position on the market. Compared to them, the Filecoin platform stands out with its innovative approach to the topic. It makes it possible to store files on many different computers. This comes with certain advantages, but Filecoin-style decentralized hosting also has some disadvantages. In this article, we will point out all the pros and cons of the Filecoin network, and we will also look at its possible applications.

Description and information about Crypto Currency Filecoin

Filecoin is a decentralized protocol that allows you to share your hard drive space with other users. You don’t have to trust a single company that provides hosting services. Filecoin allows you to store files on computers scattered around the world. With this technology, you can effectively resist potential attempts to restrict freedom of speech because, in combination with the IPFS protocol and .crypto domains, it allows to create websites that are impossible to censor.

Filecoin features a very high level of security, incomparably higher than the market-leading hosting services. Decentralization prevents possible theft and protects users’ interests. Hacking into public servers is fortunately not a daily occurrence, but it happens nonetheless, posing a risk of leaking valuable data. Filecoin solves this problem because files are not located in one place, as in the case of traditional hosting, but on many different servers. In such a situation, data theft is extremely difficult, if not impossible.

However, decentralized hosting also has a significant disadvantage. In traditional hosting, it is enough for a computer to send a request to one server. In a decentralized network, it is necessary to send many more of these queries (at the same time), which overloads the connection and makes the whole process slower. If, in addition, the Internet connection is slow, this can be a significant obstacle in using the service.

In October 2020. Filecoin released its own tokens to the market. There can be a maximum of 2 billion tokens, and there are currently 25 million (with a capitalization of $800 million). The vast majority of the tokens (70%) have been allocated to miners as compensation for providing storage space, 15% will go to Protocol Labs, the company responsible for the development of the project, 10% will go to the first investors, and 5% to the Filecoin Foundation.

Where and how to start investing in Filecoin Crypto Currency?

Start by creating an account on one of the following exchanges: Coinlist, Binance, Kraken, KuCoin or Huobi. We especially recommend because of its professional customer service and the greatest number of cryptocurrencies offered. You can easily buy Filecoin (FIL) on these exchanges, as well as many other digital assets. It is expected that over time, the token will also be available on other popular exchanges.

Reviews for Filecoin Crypto Currency. What do they write in the forum and in the press?

Filecoin has generated a lot of media interest. As it turns out, decentralization can improve not only the financial system, but also hosting services, and who knows if not many other spheres of human life. Media articles are cautious in their assessment, although the idea itself certainly deserves praise. The future will tell – experts say – whether decentralized hosting will catch on or whether it will fade into oblivion after a short time as an interesting attempt to improve services of this kind.

As usual, entries on Internet forums are less reserved. Many of them are full of enthusiasm. For a large group of Internet users Filecoin is the first step towards improving traditional hosting, which due to its centralized nature exposes user files to leakage. However, there is also a number of more balanced and even skeptical opinions, which directly question the sense of decentralized hosting.

According to Internet users, many hosting companies work reliably. Advanced security measures are a standard on the market. Therefore, in their opinion, creating such platforms as Filecoin does not make much sense.

Forum users also raise the issue of security of files stored on many different servers. Is such a decentralized network capable of guaranteeing everyone’s privacy? Will the files scattered in so many places not get into the wrong hands?

Filecoin’s algorithm prevents such situations. You don’t have to worry about invasion of privacy or data leakage – both events are impossible. Files are first encrypted, then divided into smaller parts, and then distributed among the miners keeping the network alive. Thus, there is no risk that anyone will decrypt and read your files.

Where and how to buy Filecoin? What Stock Exchange will be the best?

The native Filecoin token (abbreviated to FIL) is available on several of the most well-known cryptocurrency exchanges: Coinlist, Binance, Kraken, KuCoin and Huobi.

Where to check the Filecoin (FIL) exchange rate? Reliable sources

You can check the current Filecoin (FIL) exchange rate on the cryptocurrency exchanges listed above.

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