File Coin (FIL) has great potential to grow exponentially in the next few years. Offering valid use cases for decentralized cloud storage, File Coin can get long-term adoption in the next few years as more storage, retrieval, and repair service providers become part of its ecosystem.

Cloud storage services for retail and enterprises had already solidified its data infrastructure but at the cost of customers paying more for their service. With decentralized cloud storage, customers can find storage providers offering significantly-lower prices for storing their files and retrieval providers pricing their services in small amounts to retrieve data using their advanced computational pipelines.

Let’s learn more about FIL to understand its foundational value.

File Coin (FIL) Overview

File Coin is a decentralized peer-to-peer cloud storage network operating with four key players.

Customers are the ones looking to store data and negotiate with storage providers about prices depending on the file size they wish to store.

Storage providers have standard prices per file size tier they establish. In the decentralized cloud storage network of FIL, storage providers can compete against other prices, helping customers find the best deal that’s significantly lower than standard market prices.

Retrieval service providers may also be storage providers or specialized retrieval infrastructures whose purpose is to recover the file a customer stored with a storage provider. The same storage provider who stored the file may act as the retriever, but the customer may opt for another retrieval service provider offering a lower fee.

Repair providers have yet to implement their role in the network. Many assume that they will be in charge of recovering fragmented files in storage networks, which might be a common problem in FIL later due to the p2p characteristic of its network.

FIL Recent Market Status

How high can File Coin go? Technical analysts note that File Coin is steadily rising in value because of its established performance and market cap.

As of May 27, 2022, FIL has a trading volume of $550m and has increased by 3.51% versus its previous record. FIL also had a 163 million circulating supply and has reached the top cryptocurrencies trading in various exchanges, including Gemini, Kraken, Gate. io, and others.

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