After the Filecoin mainnet was officially launched at the block height of 148888, the cloud storage market finally got a new development. However, in the face of the imperfections of the pre-staking mechanism and the official economic model, some people are optimistic and some are declining. So, is this Filecoin, which was once jointly invested by the eight largest Wall Street venture capital institutions, worth the investment? Can the distributed storage field accelerate the large-scale application of blockchain technology? This article will take you through the Filecoin project and a few things you must know before investing in Filecoin!
Filecoin raises 257 million to break the currency circle financing record
Since 2017 Filecoin released the project white paper, Filecoin has always been the focus of the currency circle, and it is also considered to be the key to opening WEB 3.0 and a new benchmark in the cloud storage market.
As early as the beginning of Filecoin fundraising, Filecoin received US$57 million from eight well-known global investment institutions including Sequoia Capital, Union Square Ventures, Anderson Horowitz Fund; subsequently, Filecoin raised funds on Coinlist, Raised $257 million in funds within one hour, setting a record for the currency circle at the time.
Why is Filecoin so popular? Only because of the gradual saturation of the traditional storage market, and the huge imagination space that exists in distributed storage + blockchain.
Filecoin opens a new era of distributed storage
According to statistics, the output value of cloud storage in 2019 has exceeded 46 billion US dollars, but most of the market share has been controlled by centralized giants, and other companies can hardly get a share of it. With the popularization of smart terminal equipment and the rise of short video traffic platforms, people’s data storage requirements are constantly increasing, and the demand for the entire storage market is increasing. The traditional centralized storage market has become difficult to load, and the cloud storage industry follows Become the next trend of the market. Filecoin is such a project with high expectations.
When it comes to Filecoin, many people will think of IPFS. The full name of IPFS is Interplanetary File System, a network transmission protocol designed to replace HTTP. Filecoin is an incentive project running on IPFS. It builds a peer-to-peer storage market through blockchain technology, allowing users to store data quickly and at low cost, thereby reducing reliance on centralized servers.
Filecoin mining logic and application
Filecoin does not have any barriers to entry, as long as there is available hardware equipment and the Internet, anyone can become a provider or user of data storage services. Filecoin does not rely on third-party institutions to provide services, but uses its own FIL token to incentivize miners to provide storage services for more people. v wxid-940926
Miners can mine in the Filecoin network by staking a certain amount of FIL. Once someone uses your storage resources, the miners will be rewarded with tokens. If the miners fail to perform the service of storing data in accordance with the contract, the pre-staking is Tokens will be confiscated, and effective computing power will also be deducted. The above is the core logic of Filecoin mining.
In Filecoin's token economy system, the value of FIL depends on the size of its storage and retrieval market. When the market's demand for network storage and retrieval increases, the demand for FIL will increase. Therefore, the underlying economy of Filecoin requires the participation of users and miners in order to have more large-scale usage scenarios.