---
title: Filecoin
description: Detailed information about Filecoin
sidebar_position: 1
---

# Filecoin

## Overview
Filecoin is a decentralized, peer-to-peer network enabling anyone to store and retrieve data over the internet.

## Key Features
- **Currency:** FIL (Filecoin Token)
- **Buying Currency:** Available on exchanges like Binance and Coinbase.
- **Utility:** 
  - Used for network transactions and incentivizing data storage.
  - Staking rewards for network validators.
- **Automation:** 
  - Smart contracts automate data storage and retrieval processes.
- **Utility in the Project:**
  - Users can earn FIL by storing and retrieving data.
  - Validators can stake FIL to secure the network and earn rewards.
- **API:** Yes, Filecoin provides an API for developers to integrate with their applications.
- **User Perspective:**
  - Users can easily store and retrieve data and earn FIL tokens.

## How It Works
1. **Step 1:** Users upload their data to the Filecoin Network.
2. **Step 2:** The network stores the data securely and makes it available for retrieval.
3. **Step 3:** Users earn FIL tokens based on the amount of data stored and retrieved.

## Staking
- **Staking Requirements:** Minimum of 10,000 FIL tokens to become a validator.
- **Rewards:** Validators earn a percentage of transaction fees and block rewards.

## API Documentation
For detailed API documentation, visit [Filecoin API Docs](https://docs.filecoin.io).

## Additional Resources
- [Official Website](https://filecoin.io)
- [Community Link](https://t.me/filecoin)
- [GitHub Repository](https://github.com/filecoin-project)