Miners update new blocks to the chain every 30 seconds.
Filecoin’s decentralized system allows clients to be their own custodians of their data and make the web more accessible to people worldwide.
Filecoin leverages its decentralized nature to protect the integrity of a data’s location, making it easily retrievable and hard to censor.
Initial Pledge Collateral
Filecoin Miners must upfront collateral to participate in the economy. The protocol uses miners' stake to ensure rational behavior that benefits the network rewarding the creation of value, otherwise, the collateral will be slashed if the miner is found to have divergent behavior. The size of the skate aims to motivate the fulfillment of a sector's promised lifetime and to provide assurance of consent.
Block Reward Collateral
To reduce upfront collateral, block rewards are also used as collateral. Block rewards for miners are subject to slashing in case that a process terminates before its expiration. This way clients have more reliable agreements with storage miners to store their files for the promised duration.