FileStar

Purpose and Utility

FileStar is a decentralized storage network built on the Filecoin ecosystem. It aims to provide distributed storage solutions and file sharing capabilities while incentivizing storage providers through its native STAR token.

Business Model Analysis

The project functions as a storage marketplace where users can pay for storage services using STAR tokens. Storage providers earn STAR tokens by offering storage space and maintaining files on the network. This model appears to involve legitimate exchange of value and services.

Development and Platform Activity

The project shows limited recent development activity on their GitHub repositories. While the basic infrastructure exists, adoption appears to be minimal compared to other storage solutions in the space.

Token Distribution and Governance

Information about token distribution and detailed tokenomics is not readily available through official channels, which raises some transparency concerns. However, this lack of transparency alone does not make the project haram.

Technical Infrastructure

FileStar operates as a fork of Filecoin, utilizing similar proof-of-storage mechanisms to validate and reward storage providers. The technical implementation appears sound, though with limited unique features compared to its parent project.