Filecoin
FIL
$4.37

Sector

Distributed Computing

Exchange Debut

2017-12-17

Market Cap

2,471,294,601

Maxim Supply

1,961,267,343

Circulating Supply

564,918,530

Circ. Supply(%)

28.80%
Filecoin - logo

Filecoin

FIL

Price

$4.37

Market Cap

Sector

Exchange Debut

2,471,294,601
2017-12-17

Volume 24h

High 24h

Low 24h

134479314
4.404681753707
4.106933873396

Change 24h

Change 7d

Change 30d

0.8434
-10.3152
-27.2713

Maxim supply

Circulating supply

Circulating supply(%)

1,961,267,343
564,918,530
28.80%

The opinion of artificial intelligence (AI), based on the fundamental analysis of the Filecoin cryptocurrency:

 

Filecoin, as gleaned from our fundamental analysis of the Filecoin cryptocurrency, is an ambitious, decentralized storage system aiming to protect humanity’s most vital data. As an integral layer for the Interplanetary File System (IPFS), Filecoin, symbolized as $FIL, utilizes an open protocol, backed by a robust blockchain that records network commitments. However, it’s worth noting that the overall score from our detailed analysis stands at 7.23 out of 10, indicating there’s room for improvement in specific areas.

SOCIAL & MASS MEDIA: Score 8.75 out of 10

Filecoin’s strength lies within its social and mass media presence. The project’s ability to draw followers on social media is exemplary, earning a perfect 10 out of 10. Similarly, community activity on social media and media presence garnered impressive ratings. However, improvements could be made in the activities of social media administrators, and the size of chat group communities could be expanded.

AUDIT & SECURITY: Score 5.7 out of 10

The fundamental analysis of the Filecoin cryptocurrency revealed a slightly concerning score when it comes to audit and security. While the liquidity on exchanges was perfect, results of audits and public transparency of information are areas that need serious attention and enhancement.

TOKENOMICS: Score 4.15 out of 10

The Tokenomics score suggests the need for a revamp in the Filecoin project’s economic model. Centralization of the monetary mass is reasonable, but the inflationary aspect of the project, marked at 3 out of 10, indicates the inflation rate might be a problem for potential investors.

ECOSYSTEM DEVELOPMENT: Score 9.1 out of 10

Filecoin shines in its ecosystem development, achieving set objectives and promising new developments for the project. This positivity is reflected in its impressive score, revealing a healthy, thriving ecosystem that could attract potential investors.

TEAM & DEVELOPERS: Score 6.4 out of 10

The team and developers behind Filecoin, integral to the fundamental analysis of the Filecoin cryptocurrency, have a decent score. The number of software developers is top-notch, but the experience of the team could be further enriched, enhancing the project’s potential success.

PRODUCT & UTILITY: Score 7.7 out of 10

The product and its utility in the ecosystem score fairly well, indicating a generally valuable product with a definite use case. However, a focus on further enhancing the utility and applications of the product could increase its value in the market.

PARTNERS & INVESTORS: Score 7.25 out of 10

Filecoin’s partners and investors contribute to a commendable score. The number and capacity of investors, as well as the quality and number of partnerships, are quite impressive, contributing to the project’s potential success.

Fundamental analysis of the Filecoin cryptocurrency – The final conclusion

In the final assessment of the fundamental analysis of the Filecoin cryptocurrency, the project presents a promising yet mixed investment opportunity. Strong social media presence, robust ecosystem development, and the support of quality partners and investors make it attractive. However, areas of concern include its audit and security ratings and the project’s tokenomics, particularly the inflationary aspect. As such, while Filecoin holds considerable potential for growth, investors should also consider the risks associated with the current weaknesses. Therefore, careful analysis and cautious investment are advised in this project.

What is Filecoin?

 

Understanding Filecoin (FIL)

Filecoin is a decentralized storage system, designed with the intention of storing crucial human information. Conceived in 2014 as a supporting layer for the Interplanetary File System (IPFS), it employs blockchain technology to record network commitments. The native currency, FIL, is used for all transactions. Notably, the platform enables anyone to create cloud file storage services similar to Dropbox or iCloud.

Unique Aspects 

The fundamental analysis of the Filecoin cryptocurrency reveals its distinctive capacity for data storage. Unlike centralized cloud services, Filecoin’s decentralized nature guarantees data integrity and easy retrieval. This makes data custodianship personal and enhances global web accessibility. The system also incentivizes honesty and voluminous data storage among participants, as these factors influence block reward acquisition. The Filecoin developers claim that their platform effectively addresses the issues associated with inefficient file storage and retrieval.

Fundamental analysis of the Filecoin cryptocurrency

Filecoin - FIL performance

GENERAL CRITERIA:

Score

SOCIAL & MASS MEDIA
0
AUDIT & SECURITY
0
TOKENOMICS
0
ECOSYSTEM DEVELOPMENT
0
TEAM & DEVELOPERS
0
PRODUCT & UTILITY
0
PARTNERS & INVESTORS
0
Content description – Go to Metholodogy

Social & Mass Media In this section was taken into consideration the intensity of the activity of the social media page of the administrators , the speed of the community growth, the user interaction with the pages and as well the number of media appearances in the most important trade publications.

Audit & Security In particular, the team looks if the project is audited, how extensive the audit is,  at the bug bounty program, if it had incidents or not, at the liquidity on the exchanges and at the transparency of the information provided.

Tokenomics Under this criterion it is analyzed whether the project is inflationary or not, whether it has maximum supply, the percentage of supply released into the market at the time of the analysis, the rate of inflation per year, the distribution of supply in the portfolios as well as the vesting plan.

Ecosistem Development In this section is checked if the project has delivered on time what it proposed in the roadmap, the degree of participation in the project governance of the community, the activity and intensity of the developments published on github and what products or applications the team proposes to develop in the future.

Team & Developers It checks if the team is public, the quality of the team behind the project, the number of members on different domains, the experience in IT, finance and cryptography, the traceability of published information about team members and as well the number of developers in the project.

Product & Utility It checks if there are functional products, the number of users and the revenues generated by these products, the sustainability of the project and the usefulness offered in the cryptographic space and as well as in other fields of activity.

Partners & Investors It analyzes the partners and the degree of their involvement in the project, the capacity of investors and investment funds that can contribute substantially to the development of the ecosystem.

Go to Methodology

Content description

Social & Mass Media In this section was taken into consideration the intensity of the activity of the social media page of the administrators , the speed of the community growth, the user interaction with the pages and as well the number of media appearances in the most important trade publications.

Audit & Security In particular, the team looks if the project is audited, how extensive the audit is,  at the bug bounty program, if it had incidents or not, at the liquidity on the exchanges and at the transparency of the information provided.

Tokenomics Under this criterion it is analyzed whether the project is inflationary or not, whether it has maximum supply, the percentage of supply released into the market at the time of the analysis, the rate of inflation per year, the distribution of supply in the portfolios as well as the vesting plan.

Ecosistem Development In this section is checked if the project has delivered on time what it proposed in the roadmap, the degree of participation in the project governance of the community, the activity and intensity of the developments published on github and what products or applications the team proposes to develop in the future.

Team & Developers It checks if the team is public, the quality of the team behind the project, the number of members on different domains, the experience in IT, finance and cryptography, the traceability of published information about team members and as well the number of developers in the project.

Product & Utility It checks if there are functional products, the number of users and the revenues generated by these products, the sustainability of the project and the usefulness offered in the cryptographic space and as well as in other fields of activity.

Partners & Investors It analyzes the partners and the degree of their involvement in the project, the capacity of investors and investment funds that can contribute substantially to the development of the ecosystem.

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