Since this year, FIL has attracted the attention of players in the currency circle, and also set off a mining machine offline upsurge. The frenzied pull up of FIL attracted a number of investors outside the circle of crazy investment. Filecoin is the only IPFS (Interstellar File System) token, and miners are incentivified to provide limited storage space for IPFS by rewarding FIL. FIL was born to promote the development of IPFS, FIL is a supplement to the IPFS network. As the use of the IPFS network increases, so does the demand for FIL, the incentive for FIL users, and as more and more users join the IPFS network, the IPFS network becomes more stable. So it can be said that FIL and IPFS are symbiotic.
Decentralized storage is the main track of FIL. Nowadays, commercial storage is built on centralized servers and storage devices. With the increasing voice of decentralization, decentralized storage is also a trend in the future. FIL has adopted an innovative hybrid Consensus mechanism, including Expected Consensus, Spatiotemporal Proof (POST), and Replicative Proof (POREP). Through these three consensus mechanisms, the contribution of miners can be effectively confirmed, the rights and interests of miners can be balanced, and the whole network ecological environment can be more transparent and fair.
IPFS is not only a storage technology, but also a transport protocol, its main reference is HTTP (Hypertext Transfer Protocol), and its goal is to build distributed Web3.0. Web3.0 is a new stage of Internet development, which will provide users with more secure, more stable and decentralized network services. IPFS provides content retrieval, not by domain name and IP, but by using a HASH key, which is more secure and more secure than traditional HTTP.
The number of investors involved in FIL mining is also increasing. Before joining the ranks of FIL miners, one must have a clear understanding of the four punishment mechanisms:
1. Failed to submit the space-time proof: if the node fails to submit the space-time proof within a period, all pledged coins will be confiscated and the calculation force will be cleared to zero;
2. Punishment for breach of contract: if the node fails to perform the storage service as required by the contract, it will be required to return the customer’s fee and forfeit the corresponding storage pledge;
3. Consensus Punishment: For the cheating behavior of the miner by submitting multiple blocks, all the pledged coins of the miner will be deducted, and the storage computing power will be cleared to zero and cannot be recovered;
4. Penalty for space-time proof error: If the space-time proof submitted by a node does not conform to the corresponding period, an error penalty will be imposed.
Due to the particularity of decentralized storage, the purpose of the penalty mechanism for FIL mining is to ensure the stability of the entire FIL network. This also makes the threshold of FIL mining relatively high, the price of the mining machine and the cost of the pledged currency are relatively high.
Why Filecoin
Open Market: In Filecoin, file storage and retrieval transactions are negotiated on the open market, and anyone can join the Filecoin network without a license. Filecoin miners only need an Internet connection and a consulting mining SLF5576 spare disk space to join the Filecoin network, and by lowering the barriers to entry, Filecoin can build a truly decentralized Internet.
Competitive pricing: The price of storage and retrieval is determined by the supply and demand parties, not the enterprise pricing agency. Filecoin offers reliable storage at a very competitive price, and miners compete on the basis of the reliability and speed of their storage, rather than through marketing or user lock.
Reliable storage: Because storage is paid for, Filecoin provides a viable economic reason to keep files available over time. The files are stored on a reliable computer with a good Internet connection.
Self-healing: The Filecoin network constantly verifies that the file is stored correctly. Filecoin blockchain has a built-in self-healing process in which failed miners can be detected and their files redistributed to reliable miners.
Now the price of FIL coins fluctuates around $60, will it rise again? The rise and fall of the price can not be controlled, but from the gray scale of the continuous move to build a position, we can be sure that the current price of FIL is still at a low level, and there is a lot of room for the future rise.
It’s been seven years since Juan Bennett came up with the concept of IPFS in 2014. As more and more miners participate in IPFS/Filecoin projects, they will be able to mine FIL for high profits, and their circulation and price will be a significant factor in the profitability of FIL. “Filecoin is a long-term game because they focus on value rather than price,” says one. Long-term holders value the calm after the storm more than the huge currency fluctuations when Filecoin’s mainnet went live.
With Filecoin’s rigorous economic model setup (pledging, GAS consumption to add effective computing power), consulting mining SLF5576 is itself designed for long-term value development! Filecoin is not a short-term solution to obtain FIL from storage server mining, and a high price in the short term is not conducive to the long-term development of a project. It is about using time horizons to accumulate and wait, and then selling at a reasonable price at some point in the future.
In the future markets of big data era: artificial intelligence, big data, cloud computing, Internet of Things, etc., Filecoin is pursuing changes in the underlying protocols of the Internet, storing and retrieving global data. Real data storage is the true value of IPFS and the meaning of Filecoin release. In the data market, application landing is certainly an important link. Given the speed of global Internet development and Filecoin’s ecological development, the perfect match between Web 3.0 and application is not only a technological and economic infrastructure improvement, but also an opportunity for user acceptance and market penetration. From the perspective of application implementation, Filecoin’s transformation and development will take some time.
The ups and downs are even more challenging: Filecoin’s official starting point is to create as much data as possible that can be used, retrieved, and stored, creating a huge information industry ecosystem. Based on official logic, miners are required to have a higher payoff cycle and a harsher punishment mechanism. In the application of the whole economic model, there may be conflicts among miners, community users constantly find problems, and the authorities constantly optimize the network through proposals to find effective methods and make changes. As a result, Filecoin is more of a long-term “game” of growing up in conflict in order to find a relative balance in the future and ultimately achieve the desired outcome.
This FIL price callback is a benign market adjustment, there is no only up not down the market, the market must be normal volatility!
To fry money only to earn the difference and profit for investors: before the advent of the bull market, from the foot of the mountain to the top of the mountain, and some have not even reached the top of the mountain, just taste a little sweet, some, on the top of the mountain to eat a meal, found not under the mountain, was trapped, at this time down the mountain will be cut in half, not to sleep. And then there are the miners, who finish one mountain, and then go to another, from top to bottom. Do long-term value investment, use spare money to participate in financial management to do capital allocation, maintain investment mentality, consulting mining SLF5576 correctly understand the risk and income of investment. The market itself is free to rise and fall, the long march is not plain sailing.
Do value investment is a matter of long flow, six years ago fry BTC, ETH people, 98% did not earn the BTC up 400 thousand dividends, only mining to the present people can get the dividend. IPFS/Filecoin as a blockchain 3.0 revolution, the leader of distributed storage, FIL is the best choice for value investment.