Transcription of Filecoin: A Decentralized Storage Network
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Filecoin: A Decentralized Storage Network
Filecoin: A Decentralized Storage NetworkProtocol LabsJanuary 2, 2018 AbstractThe internet is in the middle of a revolution: centralized proprietary services are being replaced withdecentralized open ones; trusted parties replaced with verifiable computation; brittle location addressesreplaced with resilient content addresses; inefficient monolithic services replaced with peer-to-peer algo-rithmic markets. Bitcoin, Ethereum, and other blockchain networks have proven the utility of decen-tralized transaction ledgers. These public ledgers process sophisticated smart contract applications andtransact crypto-assets worth tens of billions of dollars. These systems are the first instances of internet-wide Open Services, where participants form a Decentralized Network providing useful services for pay,with no central management or trusted parties. IPFS has proven the utility of content-addressing bydecentralizing the web itself, serving billions of files used across a global peer-to-peer Network .
1 Introduction Filecoin is a protocol token whose blockchain runs on a novel proof, called Proof-of-Spacetime, where blocks are created by miners that are storing data.
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