The Filecoin team believes that the centralized structure of the present internet, which has majority of the data stored on a few concentrated nodes, makes it vulnerable to failures, and want to amend that by creating a protocol that decentralizes its structure and spreads the storage of data across a network of storage units.
Token Ticker: FIL
The FIL token is used to incentivise miners to contribute storage space to and host files of the Filecoin storage network.
Supply Type: Limited
Total token supply: 2,000,000,000 FIL
Amount minted during supply: 90%