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Decentralized storage network

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Smart contract blockchain

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Team:

Juan Benet - Founder

Expert Review

Filecoin
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out of 5

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Write review 7 reviews
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nikisev17 september 2017, 09:37

In general
Idea is good - execution is lagging

Pros:
Site looks solid.
Docs are easy to understand
Idea makes sense
Monetization scheme makes sense
Mining mechanism is the best part actually, current mining farms need CPU, GPU, and RAM. So it will be really logical to add some hard drives and make extra money mining filecoin.

Cons:

Not clear why its taking so long to implement .
I know that google released to open source they file storage, so replicated storage is very well defined.
Torrent being around for some time so moving data around P2P network fast is not a problem. Check out BittorentSync.
I know about Media Streaming services that run on torrent.So its mature solutions.
All it takes is good product definition and it should work.
Docs make impression that development team goes in circles since 2014.
I don't see any commercial products around. I would like to be able to back up my personal data, provide some storage as a payment. I don't need fast access, in fact i don't need to access it on daily basis, i just need to know its there.IMHO that's viable product that can sell out to general consumer.
So why its not done yet?

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karmakeddon17 september 2017, 04:24

This ICO is the same as Storj and also Siacoin. They do have a better structure in place and thus this might become their selling edge compared to other competitors. If they manage to catch up really quick, this would be a good thing for the market as people would have options on which service to use.

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BitcoinMuscle05 september 2017, 10:37

Another copy of what already exists. It is obviously not a new idea. I dont understand why they are wasting time trying to compete with higher company's that already do this thing for a few years.

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Vince_222220 august 2017, 18:12

The design and the first impression of the site is very good. It's a good sign!

They are creating a network of cloud storage that will be possible because of a lot of user contributing their unused space to it. It will even be possible to profit by sharing your space with others. The files will be securely encrypted so there is no need to worry about the fact that the files are being stored on someone else's computers. It will make a cloud storages very cheap therefore, and the ones who will contribute will be able to make profit from something they don't even use. It will be tradable on exchanges so you can then monetize it into dollars or bitcoins!

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Jmigdlc9917 august 2017, 03:35

I've read the Filecoin whitepaper and am pretty much disappointed that they do nothing much more than what Siacoin already does. Cloud storage blockchain technology is not new and siacoin as well as other coins out there have already been doing it. If Filecoin is to succeed, they need to develop fast and catch up.

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tobs12 august 2017, 19:18

One of many coins that aim to create the storage network, yet I don't support this particular one so much. The idea itself sounds good, but it's hard to compete with huge companies and well established cloud storages like dropbox for example. When it comes to storage type tokens I would rather go with siacoin than this.

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valentin09 august 2017, 12:51

idea sounds great and they have backed by top vc fund

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