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Filecoin is creating a marketplace for storing blockchain data on a distributed basis. One can earn filecoins by providing online hard drive storage space which customers purchase on the filecoin site with filecoins.


Filecoin is a project of Protocol Labs, an internet-focused software research and development institution.[1]

Filecoin raised more than $257 million in its August 2017 initial coin offering ("ICO"), it was the largest fund raising through the ICO format until that time.[2] The ICO was conducted on Coinlist, an ICO platform that is a joint venture between AngelList, a website for information about working for and investing in start-ups, and Protocol Labs. The ICO attracted so much attention that the Coinlist site crashed after an hour, with the Filecoin site confirming that it had raised $186 million in sales to accredited investors.[3]