Filecoin is another cryptocurrency with an absolutely decentralized data transmission system that is based on Bitcoin's system of work and in general differs just little from it. The main difference is that unlike Bitcoin, which works exclusively on the Proof of Work method, Filekoyin combines this method with Proof of Retrievability one. This method additionally requires that a particular file is stored in the nodes.
The time of each block, the same for Bitcoin, is 10 minutes. After such block, a PoW follows, to ensure the protection of transactions. In addition, as in most block-based designs, transactions must be performed only after a sequence of some valid blocks, where certain blocks are determined by several limitations on the enemy's power.
The big benefit of the crypto currency is that they managed to save considerably at the expense of scale, thus enabling everyone to participate as storage vendors regardless of where they are located. It also makes the repository look like a product or utility, separating hard disk space from additional services.