Review on Filecoin [Futures] by Robiul Islam
Decentralized cloud storage platform.
FIL is a platform currency used to remunerate miner. The benefit of the Filecoin is that it can deal with any miner on the network. It doesn't need making separate APIs for every miner as it occurs in any unified storage.
The users advantage from various perspectives by deciding to store their documents on the network. Essentially, they get significantly more bartering power. They can choose their miner making a decision about them by a large group of boundaries including cost, repetition, and speed. Subsequently, valuing gets competitive.
Evidently file storage is one of the solid use cases for blockchain innovation, regardless of whether it isn't as captivating as the DeFi applications that are as of now so mainstream. In any case, I accept this can be one of the more effective usages of blockchain, particularly once it picks up standard selection.
Pros
- It is in a superior position after they demonstrated their project as a working one.
- Decentralized network making it harder to settle.
- File storage will surely be one of the most important services being offered later on. Which makes it a brilliant use case for blockchain.
- Bringing a large number of PCs around the globe together will make an immense storage network.
- By making a bigger unrestricted economy for data storage, this should drive the cost down.
Cons
- Centralized giants have strong business connections, reliable services are provided and are easily scalable, making it extremely difficult for decentralized options.
