Filecoin (FIL) use cases
Filecoin allows consumers to choose the best storage option rather than having to go with locked-in vendor contracts or high rates for on-demand storage. Organizations and individuals who have unused storage space are able to offer it on the network. By sharing their resources, they are rewarded in FIL. This may not be obvious at first, but you can build DApps for storage, too! These include consumer storage apps, DeFi apps, decentralized video apps, and more.
How to store Filecoin (FIL)
Whether you’re spending or making FIL on the Filecoin network with storage activities or simply trading your tokens, you’ll need somewhere to store them.
Filecoin recommends three wallets for FIL. Lotus, which can be used to run Filecoin nodes, can be hooked up to Ledger. Glif wallet is a web-based interface that can also be connected to your Ledger if you don’t want to run Lotus. And the Filfox Wallet is a web-based wallet that you can use for your tokens.
Filecoin presents a great solution to worldwide file storage and retrieval inefficiencies. It also puts the power in the hands of the customer, who is less likely to be bound by contracts with big businesses.
With a live mainnet and a polished set of tools, Filecoin is already out in the wild. The Filecoin ecosystem’s success will depend on the usage it gets within the cryptocurrency community, but also whether it can attract new people into the world of Web 3.0.