Algorand vs Filecoin

General

Description

Algorand Logo
Algorand
 (ALGO)

Algorand is another smart contract platform aiming to solve the blockchain trilemma: achieving scalability, security, and decentralization without compromising any of these factors. It seeks to accomplish this through several technical innovations, including its “Pure Proof of Stake” consensus algorithm. Algorand is therefore seen as a direct competitor to Ethereum.

What is Algorand?
Filecoin Logo
Filecoin
 (FIL)

Filecoin is a decentralized network that enables trading of unused cloud storage space. Participants can offer storage capacity and are compensated with Filecoin (FIL) by users who need storage. The marketplace relies on the Interplanetary File System (IPFS), a peer-to-peer network for storing files, essentially acting as a “decentralized Dropbox.”

What is Filecoin?
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Purpose and goals

Algorand Logo
Algorand
 (ALGO)
  • Smart contract platform
  • Fast transactions
  • High scalability
Filecoin Logo
Filecoin
 (FIL)
  • Decentralized storage network
  • Censorship-resistant cloud storage
  • Marketplace and infrastructure
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Price and market data

Chart

Algorand
 (ALGO)

$0.1275

+10.4%
Filecoin
 (FIL)

$1.0637

-1.0%
1D
1W
1M
1Y
Max
Market data
AlgorandFilecoin
All-time high
$3.5600
Jun 20, 2019
-96.4%
$236.84
Apr 01, 2021
-99.6%
Crypto all-time highs
Market cap
$1.16B
$886.22M
Market share
0.040%
0.031%
Transaction volume (24h)
$90.18M
-28.7%
$128.92M
+6.8%
Exchange rate

1 ALGO = $0.1275

1 FIL = $1.0637

ALGO converterFIL converter
AI prediction 2026
$0.1653
+29.4%
$1.6487
+55.7%
ALGO predictionFIL prediction
Price trend
Positive
(20/30 days)
Positive
(17/30 days)
Momentum
Neutral
NegativePositive
Neutral
Neutral
NegativePositive
Neutral
Relative Strength Index
Sell
BuySell
Sell

62.5

Neutral
BuySell
Neutral

56.7

News sentiment
Positive
NegativePositive
Positive (97/100)

Last 6 months

Positive
NegativePositive
Positive (100/100)

Last 12 months

ALGO newsFIL news
Price performance
--2.2%
++2.7%
Price performance
++10.4%
--1.0%
Price performance
++38.1%
++36.0%
Price performance
--42.9%
--54.3%
Annual return
++10.8%
--21.8%
Annual return
--64.9%
--73.2%
Annual return
++48.6%
--18.1%
ALGO returnsFIL returns
Average annual return
++38.7%
--9.9%
Max supply
10B
–
Circulating supply
9.06B
833.3M
Inflation
3.03%
Year
20.11%
Year
Crypto inflation

On-chain data

AlgorandFilecoin
Total Value Locked (TVL)
$37.79M
$3.21M
What is Total Value Locked?
Market cap/TVL (ratio)
30.59
276.42
Transactions (24h)
577,700
–
Active addresses (24h)
44,054
–

Our rating

What we think

Algorand Logo
Algorand
 (ALGO)
Algorand is taking an interesting technological approach and could evolve into an exciting project in the future. Its founder, MIT professor and computer scientist Silvio Micali, is considered a brilliant mind in the field, having been awarded the Turing Award in 2012—the highest honor in computer science. Several well-known investors have already backed the project through multiple funding rounds to support development and marketing efforts. However, we must always look at the current reality: from our perspective, Algorand is currently one of the weaker competitors to Ethereum, as network usage remains far below where it needs to be. Only a handful of projects are actively building on Algorand at present, which tempers our optimism, especially given the fierce competition in the smart contract platform sector.
What is Algorand?
Filecoin Logo
Filecoin
 (FIL)
Filecoin presents an exciting use case for blockchains. Beyond finance, centralized control can be problematic in many areas. The ability to store certain files (documents, photos, videos) in a fully decentralized manner—thus protected from single points of failure, censorship, or manipulation—is highly valuable for various applications. Filecoin utilizes the IPFS protocol and provides an open marketplace to connect supply and demand. We consider Filecoin a solid, promising, and long-term project that often does not receive the attention it deserves. However, there are risks and challenges: the storage of highly illegal or morally questionable content is the dark side of a censorship-resistant network. It remains to be seen whether this will become an issue in the future and whether the demand for decentralized storage—and thus the price of cryptocurrencies like Filecoin—will continue to rise.
What is Filecoin?
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Key data

Key data
AlgorandFilecoin
Sector
Smart Contracts
Storage
Key feature
Performance
Marketplace
Founder
Silvio Micali
Juan Benet
Developer
Algorand Foundation
Filecoin Foundation, Protocol Labs
Published
2017
2014
Institutional investors
  • Union Square Ventures
  • Polybius Capital
  • Multicoin Capital
  • NEO Global Capital
  • Arrington XRP Capital
  • Foundation Capital
  • etc.
  • Sequoia Capital
  • Digital Currency Group
  • Y Combinator
  • a16z Crpto
  • Galaxy Digital
  • Digital Currency Group
  • etc.
Social media
351,583 followers
648,660 followers
Website
algorand.co
filecoin.io
Whitepaper
Whitepaper
Whitepaper

Technical details

Technical details
AlgorandFilecoin
Blockchain
Algorand Blockchain
Filecoin Blockchain
Consensus mechanism
Pure Proof of Stake
Storage Power Consensus, Expected Consensus
Staking
Yes
No
Open source
Yes
Yes
Energy consumption
Low
Low
Transactions per second
10,000 TPS
–
Algorand vs Filecoin

Algorand or Filecoin

Market data comparison of ALGO versus FIL

The current price of Algorand is $0.1275 and has decreased by 2.2% in the last 24 hours. Filecoin is currently trading at $1.0637, with a gain of 2.7% over the same period. Algorand has a market cap of $1.16B and ranks 74th. Filecoin follows with a market cap of $886.22M, ranking 83rd — meaning it is valued lower.

We automatically update all market data every 15 minutes, so you always have the latest figures for your comparison.

Should I buy Algorand or Filecoin?

You should be aware that investing in cryptocurrencies carries risks, and we are neither allowed nor intending to provide investment advice. Still, we'd like to offer some food for thought: consider the opportunities and risks associated with both Algorand and Filecoin. What target markets and problems are these two projects aiming to address?

If you're still unsure whether to invest in Algorand or Filecoin, you can take a look at some additional market data to help with your decision:

Currently, Algorand is about -96.4% below it's all-time high of $3.5600 reached Jun 20, 2019.
In comparison, Filecoin is down approximately -99.6% from it's all-time high of $236.84 Apr 01, 2021.
Algorand currently has a 30.1% lower 24h transaction volume of $90.18M compared to Filecoin with $128.92M.
Over the past year, Algorand achieved a total return of -42.9%, while Filecoin returned -54.3%. Keep in mind, however, that past performance rarely guarantees future results.

Additional criteria for comparing cryptocurrencies:

  • What problem does the project aim to solve, and is a decentralized network meaningful and necessary for it?
  • How actively is the network being used?
  • Does the project have a large and active community?
  • How strong is the development activity? (e.g., on GitHub)
  • How decentralized is the underlying blockchain and the project itself?

How we evaluate cryptocurrencies

These are just a few indicators you can use to better evaluate and compare cryptocurrencies like Algorand and Filecoin. Cryptocurrencies and their underlying technologies are often difficult to compare — even for professionals. So don’t stress yourself out, and never let emotions or fear of missing out drive your investment decisions.

Where can I buy Algorand or Filecoin?

Today, there are many reputable and secure exchanges that make it easy to invest in Algorand and Filecoin. We're happy to help you choose the right one: simply use our exchange comparison tool to find the platform that best suits your needs. Both Algorand and Filecoin are well-known and in high demand, which means they're available on most major exchanges.

Crypto exchanges comparison

Which crypto wallet is best for Algorand and Filecoin?

If you want to store cryptocurrencies like Algorand or Filecoin yourself, choosing the right wallet is essential. Consider your personal preferences when deciding: Is ease of use important to you? Do you prefer maximum security with a hardware wallet (USB device), or is a software wallet sufficient for your needs? Our crypto wallet comparison helps you find the best wallet for Algorand, Filecoin, and many other cryptocurrencies.

Crypto wallets comparison