Filecoin is a Decentralized Storage Network (DSN) that is attempting to compete with Amazon S3 as a large-scale file storage system for hosting web content. Filecoin builds economic incentives and smarter content addressing schemes on top of the ideas of other successful p2p file sharing networks such as BitTorrent.
I take a closer look at Filecoin, what some of the challenges of building a large-scale DSN might be and how they address these challenges in their newly released White Paper. I then take a look at the crazy crowd sale that is about to raise $500 million for Filecoin over the next few days, and give my initial impressions of the project.
