Filecoin is a blockchain-based storage and cryptocurrency created by Protocol Labs backed by an application token.
Filecoin is supported by the Interplanetary File System (IPFS) which is a protocol for distributed file storage and organization. The Filecoin decentralized data storage platform offers a marketplace for users to set their own prices for uploading and hosting data. The platform also allows its users to customize their orders by being able to prioritize speed, redundancy, and cost.