Domain: Finance.

Problem identification: 

Τo provide the functionality of recycling and re-allocating miners’ storage capacity.

Why Blockchain: 

To avoid the necessity of trusting a centralized banking system.

Functional Description

Filecoin designs the market for storage and retrieval of multiple files based on smart contracts, adopting a puzzle based on the generation of a sequence during a certain period of time to prove the holding of useful storage.

Consensus mechanism used

  • Useful Proof of Work (UPoW)

Current status

  • Testnet Phase 2

Focus point commentary indicating the value of the case study in relation with learning modules

Learning Modules Focus Points

Consensus Presents a use case of the UPoW consensus mechanism


  • Limited throughput performance

Alternative Approaches:

  • KopperCoin


  1. Protocol Labs, “Filecoin: A decentralized storage network,” Protocol Labs, Tech. Rep., Aug. 2017.
  2. -Fisch, B., Bonneau, J., Greco, N., & Benet, J. (2019). Scaling proof-of-replication for filecoin mining. Technical Report. Stanford University.
  3. -Website: