Why does Filecoin mining establish a token mortgage mechanism?
Previously, many Filecoin mining service providers issued terms of service, which stated that users who purchased mining machines or computing power before x year x month x day will be mortgaged by the company, and emphasized that the clause is a preferential measure .
Many novice investors do not understand why a mortgage is required for mining, let alone why this is a preferential measure.
Ordinary users know very little about digital currency mining, and they know very little about Bitcoin mining, but there is no token collateral in Bitcoin mining.
When using Bitcoin to mine, users only need to own a mining machine, and then connect it to the Internet, and customers running Bitcoin can start. These are simple and straightforward.
The fundamental reason why Bitcoin mining is so simple lies in the Bitcoin consensus mechanism of POW. Under the POW consensus mechanism, mining behavior is a spelling process. Nodes with strong computing power can pack the blocks first, that is, dig into the mine first and then get paid.
This is a mining method. Although simple, it consumes a lot of power. Therefore, a POS or DPOS consensus mechanism appeared later.
In the two types of consensus mechanisms, the mining of nodes is no longer more important than the ability to collate. Instead, nodes are randomly selected by the system or selected according to specific rules to conduct block-packed mining. Mining does not require strong computing power, only basic computing power and network communication capabilities.
Because packing nodes on POS or DPOS does not require special performance, an ordinary computer or server can be mined. Therefore, if hackers use these computers or servers to mix into the network to cheat or attack the system, the system will face great risks.
In order to avoid such risks, we can consider making nodes with malicious intentions pay the price, and through such prevention, we can reduce the risk of system attacks.
One of the specific payment methods is that the node mortgages a certain amount of tokens. When the system finds that a node has done something bad while the system is running, it will confiscate the tokens pledged by the node and kick it out of the system.
This is the origin of the token mortgage system.
This mining method first appeared in the POS/DPOS system. Later, the Filecoin mining company also adopted this approach and established a token mortgage mechanism. Once it is discovered that the miner has obtained system rewards by deception, the node will be confiscated. Mortgage and kick it out of the network.
In addition to using mortgages to prevent evil, Filecoin also raises the threshold for miners to mine through the potential "punishment" measures of token mortgages, and screens out high-quality miners who serve users.
In the process of Filecoin mining, if miners cannot stably stay in the network to participate in providing storage services, they will often go offline or have poor communication capabilities for these reasons, and they are likely to confiscate mortgage tokens, which forces miners interested in mining Try to choose an environment with good communication conditions and develop a good system to ensure stable and efficient operation of the equipment.
Therefore, the miners of Filecoin mining must mortgage the tokens.