Our Filecoin Price Prediction tells about FIL price history analysis, features, and forecast for 2021, 2022, 2030.
What is Filecoin?
Filecoin is a cryptocurrency project based on a decentralized storage platform and the virtual coin of the same name, FIL. The startup has been running since 2014, and its goal was to reduce dependence on centralized storage servers. In simple terms, it is a pool in which anyone can rent a certain amount of hard disk space and get paid for it. In doing so, anyone can buy disk space or, conversely, earn money for providing it.
Filecoin is a decentralized platform designed for computer and laptop owners, allowing them to earn cryptocurrency from the provision of free hard drive space. It uses the RoRep protocol as well as IPFS. The first has to prove the fact that the user has enough place for a certain period. The second has to eliminate the difficulty of storing large numbers of copies of the same information.
Unlike other similar projects, Filecoin allows everyone to store their data. This feature both develops the Internet and makes it more accessible. Having rewards for storing data gives the participants an incentive to work honestly and provide as much space as possible for the users who need it.
The developer of Filecoin is Juan Benet, a computer scientist from the US. He is a graduate of Stanford University. Apart from the coin, he is known for creating an interplanetary file system. The project had launched in 2014 as a peer-to-peer system, and by 2017 it had managed to raise over $2,000 million. The initial launch had planned for 2019. But the start date of the project had to be shifted to October 2020. It was in that month that the number of blocks of 148,888 had reached.
The peculiarity of blockchain involves verification, and the virtual coin functions as if on top of this network. At the same time, FIL is used to pay for transactions.
Filecoin Price History
Filecoin started 2017 with a price of $11.50 and ended with a value of $20.08. At the beginning of 2018, its price fell to $19.48, and by the end of the year, it had dipped to $2.82. The cryptocurrency started in 2019 with $3.02 and ended the year with a value of $3.37. At the beginning of 2020, the coin was worth $3.84, and at the end of the year, it was worth $24.35.
Filecoin Price Prediction 2021
Analysts did not make any forecasts for FIL. However, the uptrend will continue; The Filecoin price prediction 2021 forecast for the end of the year $53.29.
Filecoin Price Prediction 2022
According to the forecast and algorithmic analysis, the price of 1 Filecoin token (FIL) could be around $65.23 in 2022.
Will Filecoin Price Fall or Grow?
There are two possible reasons for the coin’s uptrend, namely its main factors, such as:
- The growth of its storage capacity and transaction volume;
- As well as interest from investors.
Generally, the growth rate of a blockchain protocol can be analyzed using three indicators:
- Developer activity;
- Mining activity;
- Transaction volume.
The coin has shown steady growth in all three of these areas.
Filecoin Price Prediction 2030
DigitalCoinPrice believes that Filecoin will continue to do well by 2030. By 2030, the Coin Price Forecast believes that Filcoin could reach an incredible $1,842.23.
How to Invest in Filecoin?
Filecoin mining does not require any special equipment – any user of the network can become a miner by leasing space on their hard drive in exchange for FIL. Thus, to become a miner, one needs to own free hard disk space and access the Internet: The more storage space a miner provides, the more chances the coin algorithm will pick to create a new block.
As long as internet technology exists, we will need the Filecoin ecosystem. It manages to completely close the gaps in the industry in which it has located, which to some extent increases interest in it.