Filecoin combines many elements of other file storage and distribution systems. What makes Filecoin unique is that it runs on an open, peer-to-peer network while still providing economic incentives and proofs to ensure files are being stored correctly. This page compares Filecoin against other technologies that share some of the same properties.
| Filecoin | Amazon S3, Google Cloud Storage |
|---|
| Main use case | Storing files at hypercompetitive prices | Storing files using a familiar, widely-supported service |
| Pricing | Determined by a hypercompetitive open market | Set by corporate pricing departments |
| Centralization | Many small, independent storage providers | A handful of large companies |
| Reliability stats | Independently checked by the network and publicly verifiable | Companies self-report their own stats |
| API | Applications can access all storage providers using the Filecoin protocol | Applications must implement a different API for each storage provider |
| Retrieval | Competitive market for retrieving files | Typically more expensive than storing files to lock users in |
| Fault handling | If a file is lost, the user is refunded automatically by the network | Companies can offer users credit if files are lost or unavailable |
| Support | If something goes wrong, the Filecoin protocol determines what happens without human intervention | If something goes wrong, users contact the support help desk to seek resolution |
| Physical location | Miners located anywhere in the world | Limited to where provider’s data centres are located |
| Becoming a storage provider | Low barrier to entry for storage providers (computer, hard drive, internet connection) | High barrier to entry for storage providers (legal agreements, marketing, support staff) |
| FIL | BTC |
|---|
| Main use case | File storage | Payment network |
| Data storage | Good at storing large amounts of data inexpensively | Small amounts of data can be stored on blockchain at significant cost |
| Proof | Blockchain secured using proof of replication and proof of spacetime | Blockchain secured using proof of work |
| Consensus power | Miners with the most storage have the most power | Miners with the most computational speed have the most power |
| Mining hardware | Hard drives, GPUs, and CPUs | ASICs |
| Mining usefulness | Mining results in peoples’ files being stored | Mining results in heat |
| Types of provider | Storage provider, retrieval provider, repair provider | All providers perform proof of work |
| Uptime requirements | Storage providers rewarded for uptime, penalized for downtime | Miners can go offline without being penalized |
| Network status | Mainnet running since 2020 | Mainnet running since 2009 |