The decentralised storage network

Filecoin is a decentralized storage network that turns cloud storage into an algorithmic market. The market runs on a blockchain with a native protocol token (also called “Filecoin”), which miners earn by providing storage to clients.

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Filecoin is crazy... in a good way. Filecoin is like a distributed dropbox that uses cryptocurrency to build value and liquidity into the network. @juanbenet I'd love to hear where the idea came from.
@rrhoover the need to incentivize seeding in the web :) -- Filecoin will complement
"The Filecoin network forms an entirely distributed file storage system, whose nodes are incentivized to store as much of the entire network’s data as they can. The currency is awarded for storing files, and is transferred in transactions, as in Bitcoin. Files are added to the network by spending currency. This produces strong monetary incentives for individuals to join and work for the network. In the course of ordinary operation of the Filecoin network, nodes contribute useful work in the form of storage and distribution of valuable data." It sounds like a hybrid technology between Bitcoin & BitTorrent.
@rrhoover @daualset Sort of :) the BitTorrent part is actually in IPFS ( -- Filecoin's sister protocol. More details to come! :)