A brief for anyone wondering what Filecoin is:

> Filecoin is a decentralized storage network that turns the world’s unused storage into an algorithmic market, creating a permanent, decentralized future for the web. Miners earn the native protocol token (also called “filecoin”) by providing data storage and/or retrieval. Clients pay miners to store or distribute data and to retrieve it.

Filecoin is a project of Protocol Labs which also created the DAG based hypermedia protocol IPFS.