Filecoin is an open-source, decentralized storage network developed by Protocol Labs. It enables users to rent out unused hard drive space, creating a cooperative digital storage and data retrieval system. By leveraging blockchain technology, Filecoin records transactions using its native cryptocurrency, FIL, ensuring transparency and security. The network employs proof-of-replication and proof-of-space-time to verify data storage, fostering a trustless environment. This decentralized approach offers an alternative to traditional cloud storage providers, aiming to make the web more secure and efficient by storing humanity's most important information.