FIL meaning in Cryptocurrency ?

Answer:

What Is Filecoin (FIL)?

Filecoin is a decentralized storage system that aims to “store humanity’s most important information.” The project raised $205 million in an initial coin offering (ICO) in 2017, and initially planned a launch date for mid-2019. However, the launch date for the Filecoin mainnet was pushed back until block 148,888, which is expected in mid-October 2020.

The project was first described back in 2014 as an incentive layer for the Interplanetary File System (IPFS), a peer-to-peer storage network. Filecoin is open protocol and backed by a blockchain that records commitments made by the network’s participants, with transactions made using FIL, the blockchain’s native currency. The blockchain is based on both proof-of-replication and proof-of-spacetime.

Who Are the Founders of Filecoin?

Filecoin was founded by Juan Benet, who also created the Interplanetary File System. Benet is an American computer scientist who studied at Stanford University. After founding Protocol Labs in May 2014, he attended Y Combinator in the summer of 2014 with the intention of supporting both IPFS and Filecoin, as well as other projects.

What Makes Filecoin Unique?

Filecoin aims to store data in a decentralized manner. Unlike cloud storage companies like Amazon Web Services or Cloudflare, which are prone to the problems of centralization, Filecoin leverages its decentralized nature to protect the integrity of a data’s location, making it easily retrievable and hard to censor.

Decentralized storage systems like Filecoin allow people to be their own custodians of their data, as well as makes the web more accessible to people worldwide. Since participating in the Filecoin network by mining and storing is directly related to winning more block rewards, Filecoin incentives participants to act honestly and store as much data as possible

reference

Full Form	Category
Factory Interface Language	Academic & Science
Fillmore (ut)	Airport Code
Freescale, Israel	Business
Financial Institution Letters	Business
Financial Institution Letter	Business
Father In Law	Community
Filter List	Computing
File Template	Computing
Files List	Computing
Facebook Ireland Limited	Computing
File Management Library	Computing
Filecoin	Cryptocurrency
File Listing	File Type
File Template (application Generator)	File Type
Files List Object File (dbase Application Generator)	File Type
Overlay (wordperfect)	File Type
FIL is listed	General
Fabulously Impossible Liquidations	General
Fabbrica Isolatori Livorno	General
Fire Intensity Level	General
Ford India Limited	General
Firestone Indy Lights	General
Fourgon Incendie Leger	General
Front Inside Left	General
Fell In Love	General
Fabulous Image Lifestyle	General
Filoloji	International
Federation of International Lacrosse	International
Fall In Love	Internet
Friends In Life	Internet
Film	Medical
Feedback Inhibitor of Lactation	Medical
Functional Imaging Laboratory	Medical
Fillmore, Utah USA	Regional
Filament	Space Science