Folder Protocol (FOL) explained

Folder Protocol (FOL) explained

22 Jun 2022 Off By charles thuo

Folder protocol is a blockchain network designed to work as a second layer solution for decentralized storage networks, which is an incentive layer on top of Filecoin blockchain nodes (IPFS). The IPFS provides storage infrastructure for any data.

So, Folder Protocol functions as an intermediary layer to facilitate the exchange of computing power and FOL token between FOL clients and IPFS/Filecoin nodes accumulating Filecoin

Folder protocol allows for decentralized data, building and running distributed applications as well as the implementation of smart contracts that operate large volumes of data.

Users benefit from faster retrieval and wider distribution of content.

How can you participate in Folder Protocol?

Anyone can participate in contributing to the Folder Protocol ecosystem by operating nodes, mining or offering storage services.

  • IPFS/Filecoin Nodes operator – The IPFS is owned by Folder Protocol and they provide computing power as a part of the Filecoin network to engage in mining activity.
  • Miner or Client – as a miner or client, you will be responsible for providing computing power to Folder Protocol, ultimately contributing to the Filecoin network and receiving FOL tokens as a reward.
  • Data storage services –Folder Protocol provides the secure network and token that clients and miners can use to enter storage contracts in a peer-to-peer manner. Buyers and sellers can trade in storage space directly. As a result, clients and miners are free to negotiate prices and features of the storage space.

Where to buy FOL token?

The maximum supply of FOL tokens is 200,000,000 FOL coins and the token is ranked at position 4102 by CoinMarketCap.

If you want to trade or buy Folder Protocol (FOL), FOL is currently available for trading on the following crypto exchanges:

  1. Bittrex
  2. Flybit