A decentralized peer-to-peer network for data storage, nice! Let's dive in.
The idea behind Filecoin is to take data away from services like Google and Amazon Cloud and regain ownership of this data by providing a peer-to-peer network of storage facilities across the globe. Anyone can participate and start providing this service to others.
Data owners need to pay FIL when they store data. They can select how many copies need to be stored and at which data storage facility they want this to happen.
Data users need to pay FIL when they receive data. So the initial storage cost is minimal, but the usage of data will be the real multiplier for storage earnings.
Data storage providers receive FIL when storing data. As data usage grows, other data storage providers can select and copy the data, bringing it closer to the users, which will increase the speed of retrieval but lower the earnings for providers further away.
I think there are many useful cases for the Filecoin storage network, but I expect that data which is used intensively will be better off with other solutions where the host pays the entire bill. I deduct 1 star because users of the data need to pay as well, and currently the costs are only calculated for the initial storage, making it difficult to compare with other solutions
See image posted at this review https://cyrator.com/post/646ad2ededeb392d59486c80 for price comparisment. Show Less
