Bitcoin BTC VS Filecoin crypto VS Algorand crypto 🔥 Bitcoin price 🔥 Filecoin news 🔥 Bitcoin news

Bitcoin price 🔥 Filecoin news 🔥 Bitcoin news 🔥 Bitcoin BTC VS Filecoin crypto VS Algorand crypto
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⚡ What is what is filecoin crypto (FIL)
A Decentralized Storage Network Built On IPFS.
Filecoin is a decentralized storage network that serves as an incentivization layer on top of the InterPlanetary File System (IPFS).
Filecoin utilizes idle hard drive space and bandwidth to provide data storage and retrieval services in an open market, allowing anyone to participate as a storage provider and to monetize spare hard drive capacity.
The Filecoin blockchain has a built-in self-healing process where faulty storage nodes are detected and their stored files are redistributed to reliable nodes.
The Filecoin network uses the FIL token to incentivize various node types to contribute to the network. Node types include:
Chain Verifier Node: Synchronizes the Filecoin blockchain and validates the latest blocks to reach a consensus state.
Client Node: Builds on top of a Chain Verifier Node and must be implemented by any application that is building on the Filecoin network.
Storage Miner Node: Forms contracts with clients to store data for a period of time. Storage Miner Nodes can earn FIL whenever new blocks are created, and by completing storage contracts and adding new messages to blocks.

⚡ What is what is algorand crypto (ALGO)
Algorand is a blockchain founded in 2017 by Professor Silvio Micali, a computer scientist from MIT. Its mainnet went live in June 2019 along with the launch of its native cryptocurrency, ALGO. The blockchain aims to improve the scalability problems of older blockchains while supporting smart contracts. Algorand's blockchain is decentralized and public with a Pure Proof-of-Stake blockchain. You can also use Algorand to create customized layer-1 blockchains.
The blockchain's Pure Proof of Stake consensus mechanism helps decentralize the power seen in traditional Proof of Stake models. Anyone who wants to take part and stakes (even small amounts) has the chance to be randomly selected as a validator or block proposer.
ALGO is Algorand's native coin with a maximum total supply of 10 billion. The project aims to have the supply fully distributed by the end of 2030. You can earn ALGO by holding at least 1 ALGO in a non-custodial wallet. This occurs whenever a new block is successfully added, and you can expect roughly 5-8% APY. ALGO is a popular coin to hold for investors who want to make returns passively without needing to stake the coin. You can also use the coin to pay network transaction fees and staking when generating consensus.

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