Filecoin is a decentralized storage network that leverages blockchain technology to create a marketplace for data storage. It allows users to rent out their unused hard drive space to others, similar to how Airbnb works for accommodation. The network is powered by the Filecoin (FIL) cryptocurrency, which is used to facilitate transactions between storage providers and clients. Filecoin aims to provide a more robust, censorship-resistant, and cost-effective alternative to traditional cloud storage services.
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