The idea behind BitcoinFIle is to provide a new storage system that is environmentally safe, stable
and effective. BIFI is a peer to peer distributed file system, built with the blockchain technology. It
wants to create a global decentralized platform in combination with the IPFS system and bitcoin‘s
network. The joining of the technologies makes it more eco-friendly, rewarding for the miners and
easy to use for the users. Miners on the network share their own disk space and network bandwidth.
The earnings depend on the shared space. The reward is calculated on the principle of proof of work.
The whole BIFI system is entirely decentralized. There are two types of agents– miners who provide
storage and users who pay for using it. An advantage of BIFI is stability. It uses a reliable protocol for
IPFS file systems thanks to the big rewards for the miners. It is less power consuming than the
traditional coin mining that uses the CPUs and GPUs. And is intelligent thanks to the integrated smart
contracts. Users can exchange BIFI coins in more than 20 different markets and keep it in more than
10 different crypto wallets.

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