Cameron Winklevoss, recently stated that Bitcoin is decentralizing money, Ethereum ETH is decentralizing computing, and Filecoin FIL is decentralizing file storage.

For clarity to understand the circulating supply of FIL and on how stakeholders are participating in the economy, it is important to understand the Filecoin token economics.  There is a paper on Filecoin Economy which details the economic mechanisms.

The infrastructure facilitated by Filecoin is used for tooling and several use cases.

Filecoin stakeholders have made it possible for the network to cross 1EiB of storage capacity due to the participation of 700+ miners.  The ecosystem has 90+ projects, several building applications, and developer tooling in the infrastructure facilitated by the Filecoin network.

By virtue of the different hackathons and accelerators more than 200 projects are now entering the ecosystem.  There are more than 5400 developers contributing to the projects.  

Several use cases are getting developed to cover for use cases which cover for consumer storage apps, archival storage, DeFi, decentralized video and others.

Filecoin being a utility token is used to give token holders the right to use the network. Filecoin is establishing itself as an island economy where the participants in the economy come together to create valuable storage goods and services and to eventually make it possible for the rest of the world to use these products.  The Filecoin network has different storage providers facilitating unique characteristics, smart contracts systems, lending services, and different kinds of use cases. And, every provider on the network function as a unique business.   The utility facilitated by the goods and services of the provider in the network is huge considering there are several different unique providers.

The miners, developers, researchers, clients, and token holders in the ecosystem by virtue of their interdependence and long-term alignment is the scope set to efficiently make the storage-related goods and services usable for themselves and the rest of the outside world. The expectation is that as the purchasing power of the participants in the economy will improve with the demand for goods and services improving.  Filecoin (FIL) competing to provide Cheaper and Better Storage in the Blockchain and Cryptocurrency Space

Filecoin Plus (FIL) With Incentives for Participants Increasing Social Trust

Filecoin were able to establish a layer of social trust on the top of the Filecoin Plus, which is the technical layer.  The technical layer puts the power of the network into the outcome of the combined activities of the miners who store the deals from the clients and the participants.  These deals are notarized by notaries for which they gain 10x advantage in storage power and therefore gain 10x their share of the network’s block reward.  Thus, incentivizes the participants using the services and goods on the Filecoin network.