Who is backing Filecoin?

For storage providers Filecoin enables storage providers to sell their storage on an open market. Storage providers are people and organizations that run storage providers, earning Filecoin tokens for doing so.

Since its mainnet launch, the Filecoin network has been used in the development of Textile’s Powergate, a multi-tiered storage service, and Space, an open-source file storage, sharing, and collaboration platform . Filecoin has also been demoed as a data retrieval tool for Chainsafe.

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.