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October 30, 2020
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Bitcoin

Filecoin finally launched its mainnet –

Filecoin, a Dropbox blockchain, announced the launch of its mainnet on October 15. Investors who participated in the 257 million ICO three years ago certainly have reason to be pleased. According to the official announcement, the mainnet network was launched at block 148,888. So far, the network is stable, but FIL, the project’s native token, is making amazing gains.

Support for exchanges before the mainnet launch

Interestingly, leading exchanges such as Gemini and Kraken announced support for the FIL token before the mainnet was launched. As of this writing, Kraken supports four FIL trading pairs and Gemini supports FIL deposits and withdrawals. Gemini initially set the token price at $ 29, but also plans to introduce fiduciary services in the near future.

Huobi, one of the leading exchanges, quickly followed in the footsteps of Gemini and Kraken. This exchange, however, opened the FIL market with a price of $ 50.

Coingecko’s data shows that FIL hit a new ATH of $ 208.95 on October 15. At the time of writing this article, the token is trading at $ 63.42.

What is Filecoin?

Filecoin is a project that encourages a global network of computer operators. Each person can share their storage space and store other users’ files on it. According to the founders, Filecoin will become the cheapest and fastest way to store data on the Internet, in a decentralized manner.

The entire network is powered by the native platform token – FIL. Participants can use FILa to pay for data storage and recovery.

Increased usability

Filecoin has intrigued not only investors but the entire crypto-space for the last 3 years. As soon as mainnet went live, NowPayments, the cryptocurrency payment gateway used by Traval, proposed another layer of usability for FIL. NowPayments is a ChangeNow product that facilitates payments in cryptocurrencies.

Pauline Shangett, CMO ChangeNow, announced that the platform will try to increase the usability of the FIL token. According to Shangett, NowPayments plans to achieve this goal by introducing the token to sites like Travala.

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