Is Filecoin storage free?

According to the internet technology-support provider, the cryptocurrency Filecoin storage platform will remain free indefinitely as a simple and “hassle-free” way to upload data on the redundant storage capacity that storage providers offer in exchange for cryptocurrency Filecoin block rewards.

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How is data stored in Filecoin?

Filecoin is an open-source, cloud-based decentralized storage network (DSN) built to maximize data storage and retrieval. The Filecoin network leverages a mining, storage, and retrieval mechanism that connects storage miners (providers) and retrieval miners (servers) with clients who pay to store and retrieve data .

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What blockchain is Filecoin built on?

According to Filecoin’s authors, it is a decentralized storage system that aims to “store humanity’s most important information.” Filecoin is an 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.

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