How does Filecoin's white paper propose to solve the challenges of decentralized storage in the cryptocurrency industry?

1 answers

• Dec 16, 2021 · 3 years ago
  Decentralized storage has always been a challenge in the cryptocurrency industry, but Filecoin's white paper proposes an innovative solution. By utilizing unused storage space on individuals' computers, Filecoin creates a decentralized storage network that is highly resilient and secure. The proof-of-replication and proof-of-spacetime consensus mechanisms ensure that data is stored reliably and cannot be altered. Moreover, the market-driven approach using Filecoin as a native cryptocurrency incentivizes participation from both storage providers and clients, ensuring the availability of storage resources. With Filecoin, the challenges of decentralized storage in the cryptocurrency industry are effectively addressed.
  724362