on the crypto
Filecoin is a Protocol Labs system designed to be both a decentralized file storage and, at the same time, a content distribution network. The Filecoin team wrote "prosperity for life" in Chinese in block number 148,888 which triggered the production of the native FIL token, "to honor our Chinese mining community's epic contribution to Filecoin's long-term success."
A promising blockchain
Filecoin is very likely to go down in history as the fastest blockchain so far in reaching a market capitalization of over $ 1 billion, although it cannot be said for sure until FIL tokens actually enter the market.
FIL futures are currently trading at $ 55,63 according to Crypto.com, which would put the market cap at $ 578 million. The token offering in circulation at launch is expected to be much, much lower than the 200 million tokens sold in the 2017 initial coin offering (ICO), with a significantly lower market capitalization by convention.
Despite multiple delays, the Filecoin project has attracted considerable attention, particularly in China, where the Investors they speculated heavily on the network's mining hardware and FIL token.
CoinList for the purchase of FIL
CoinList's Scott Keto argues that the first market to actually have FIL tokens available for purchase will likely be CoinList Pro. The launch of Filecoin is in itself a milestone for CoinList, a company born from an offshoot of Naval Ravikant's AngelList to manage Filecoin's gigantic token sale, which ended in September 2017. The ICO eventually raised over $ 200 million, the largest sale to date.
Filecoin dapp
Among the various projects announced, an example is Slate, a personal storage service that uses Filecoin and IPFS. Textile is another, which has evolved into a set of development tools for storage management from the start, as a kind of decentralized Flickr.
In last month's “Space Race” sprint testnet, 360 miners participated globally, increasing the network's data capacity by 230 pebibytes. The competition was supported by a final prize pool of FIL 1,5 million.
Ecosystem
CoinList is playing a key role in the distribution of FIL tokens, handling 55% of the current distribution, for all ICO participants who have not indicated a self-custody or external solution for distribution, Keto explained.
“As CoinList will have most of the initial supply, CoinList Pro will likely be the first to list FIL. Fake IOU platforms may try to take the top spot, but they aren't backed up by real tokens, ”Keto wrote.
CoinList's custodian partner is Gemini Custody, although individual FIL buyers are using solutions like Coinbase, Anchorage, and others. Several exchanges have promised to list the FIL token, and CoinList said the number is likely to increase.
