What is FIL coin? How does FIL coin work?

Filecoin (FIL) Introduction

Filecoin is a decentralized file storage and retrieval network that allows users to store and retrieve files safely and reliably, and by providing Storage space is rewarded.

How it works

Filecoin works through:

• Storage Providers: Users can store files in a distributed network operated by a storage provider. These providers use computer hardware to store files and maintain the integrity of the network.
• Retrieval: Users can retrieve stored files from the network. The retriever pays the storage provider to obtain the file.
• Blockchain: Filecoin uses blockchain technology to record all transactions and activities on the network. This ensures data security and transparency.
• FIL Token: FIL is the native token of the Filecoin network. It is used to reward storage providers for storing and retrieving files, and to incentivize users to participate in the network.

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