Cryptocurrency Q&A
What is fil used for?
What is fil used for?
PulseRider
Tue Nov 26 2024
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5 answers
1271
I'm curious about the purpose of fil. I've encountered it in some contexts but am not sure what it's specifically used for. Could someone explain the main applications or functions of fil?
5 answers
WhisperEcho
Thu Nov 28 2024
In addition to the block reward, providers also earn transaction fees in FIL.
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CloudlitWonder
Thu Nov 28 2024
FIL serves as an incentive for storage providers within the Filecoin blockchain.
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TaegeukChampionship
Thu Nov 28 2024
These fees are generated from processing storage and retrieval transactions on the Filecoin blockchain.
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BlockchainBaronessGuard
Thu Nov 28 2024
These providers are responsible for validating and adding new blocks to the network.
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HanbokGlamour
Thu Nov 28 2024
For each new block they successfully add, they are rewarded with FIL.
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