Filecoin (⨎)[a] is a cryptocurrency intended to be a blockchain-based cooperative digital storage and data retrieval method.

[2][3][4][5] It was developed by Protocol Labs and shares some ideas from InterPlanetary File System allowing users to rent unused hard drive space.

[9] The project was launched in August 2017, and raised over $200 million within 30 minutes via an initial coin offering.

[8][10] In 2020, the project set up the Filecoin Foundation under the leadership of founding officer Megan Klimen to support the development of the protocol, and the Filecoin Foundation for the Decentralized Web to support other projects contributing to the ecosystem of the decentralized web.

[11][non-primary source needed] Their Board of Directors and advisors include Brewster Kahle (Founder of Internet Archive), Joe Lubin (Founder of Consensys & Cofounder of Ethereum), and Denelle Dixon (CEO of Stellar Development Foundation)[12].