Filecoin is developing a blockchain-based cloud storage solution. Filecoin tokens are used to power a marketplace for file storage that connects users through a bidding system. This pricing model is different from other blockchain storage solutions like Storj and Sia, that have set pricing for uploading files to their networks. Filecoin was created by Protocol Labs, a company with an established reputation for developing other network based storage solutions. They raised $205 million in a token sale. Filecoin has an innovative consensus mechanism that is a type of Proof-of-Storage, and is based on Proof-of-Replication (PoRep) and Proof-of-Spacetime (PoSt). This hybrid consensus system allows users to verify that files have been allocated to their own unique space in storage memory, and are being stored for a specified period of time.

MaidSafe wants to create a decentralized file storage and computing solution. Unlike some of their competitors in the blockchain storage sector, they have a grander vision that is somewhat less focused.
MaidSafe is an acronym for: Massive Array of Internet Disks, Secure Access for Everyone. The company hopes to solve the privacy and redundancy issues of centralized cloud storage providers with the help of blockchain technology. They also want to create a marketplace for computing resources, such as processing power.
The SAFE (Secure Access for Everyone) network hopes to provide a secure and autonomous cloud storage and computing solution. Files are encrypted locally. The data is then broken up an distributed across the network.
MaidSafeCoin is a token for the SafeCoin currency. These tokens were released during MaidSAfe’s crowdsale in 2014 and will be swapped for Safecoin at a 1:1 ratio when SafeCoin is released. MaidSafeCoin is listed on the bitcoin blockchain.