Hengxunyun said that the most crazy incident in the currency circle this year was the announcement of the mainnet on the filecoin official website .
Those who are familiar with the currency circle should not know Filecoin.
In 2017, Filecoin completed a total of 257 million US dollars of 1CO, setting a record in the history of the currency circle-the most in the history of 1CO
Some netizens commented: Another project called Blockchain 3.0 has appeared!
Since Filecoin was exposed, it has been attracting attention in the currency circle, and Filecoin, which can set off a huge wave with a little move, is sacred. Today we will talk about Filecoin.
First of all, this matter should start with IPFS.
IPFS ("Interplanetary File System"): Point-to-point distributed file system
IPFS (Inter Planetary File System), named "Inter Planetary File System" in Chinese, is a peer-to-peer (P2P) distributed file system.
It was initiated by American Juan Benet in May 2014 to subvert the HTTP protocol (Hypertext Media Transfer Protocol).
Although it is a file system and uses a technology for storing data, IPFS is more precisely a transmission protocol.
In more detail, IPFS is a decentralized network underlying protocol, which is essentially a content-addressable, versioned, point-to-point hypermedia distributed storage and transmission protocol; similar to Bitcoin,
IPFS miners are free to join this network, contribute storage space to the IPFS network, and obtain various resources in the network.
Its goal is to supplement or even replace the HTTP used in the past 20 years, aiming to build a faster, safer, and more free Internet era.
Here, by the way, HTTP,
HTTP is a simple request-response protocol, usually running on top of TCP; it specifies what kind of message the client may send to the server and what kind of response it gets
For example, if we want to find the content we want on the Internet, we have to enter the URL, which usually starts with HTTP.
HTTP transfers through domain names, IPs, and multiple central servers, and then uploads and downloads files. HTTP's merits are naturally irreplaceable. After all, we all rely on it to access the Internet.
But HTTP also has some problems, such as performance efficiency is not very high, and excessive reliance on the central server and backbone network.
Compared with IPFS, it is a multi-centralized solution. Content addressing is not through domain name and IP, but through unique HASH key for data search.
IPFS is a distributed file storage system. File data is not stored on a centralized server, but on all qualified computers on the network.
As early as May 2015, in filecoin official website to see IPFS has been running on the line,
But strictly speaking, IPFS does not use blockchain technology and does not have fil coins, so it is not a blockchain project.
But its decentralization concept coincides with blockchain.
The Filecoin we are going to talk about today is the launch of IPFS.
Filecoin: Distributed Storage Network on IPFS
Filecoin is a distributed storage network built on IPFS and also a blockchain encryption currency technology.
It is a next-generation infrastructure, used to carry data in data storage networks anywhere in the world.
Filecoin uses idle hard disk space to provide data storage and retrieval services in the open market, so that anyone can participate as a storage provider and profit from the idle capacity of hard disks.
In addition, the Filecoin blockchain has a built-in self-healing process that detects failed storage nodes and redistributes stored files to reliable nodes.
On the other hand, Filecoin official website shows that filecoin is the incentive layer of IPFS. Players participating in IPFS mining and contributing storage space and computing power to IPFS can obtain FIL of Filecoin tokens. FIL was mainly produced by mining in the early days.
The operation of Filecoin is very similar to the market: the buyer is the person looking for storage space services, and the seller is the storage provider.
In this market, buyers are called customers, and sellers are Filecoin miners.
Therefore, in this blockchain data storage network, as long as sellers provide storage services, they can get corresponding returns.
And Filecoin monetizes unused and excess storage around the world in a distributed network.
Unlike Bitcoin POW (Proof of Work) mining, Filecoin is a valid proof of storage.
Therefore, Filecoin miners are not that the larger the hard disk, the greater the computing power, but the more data they store, the greater the computing power.
Filecoin uses two proofs to ensure that information is stored safely:
1. Proof of Copy (PoRep): to verify that the network node does store the corresponding information according to the requirements;
2. Proof of Time and Space (PoSt): To verify that the network node has the ability to replicate proof within a period of time.
What exactly does Filecoin have?
Certain characteristics of the Filecoin network make it possible to become an incentive storage network market:
1. The third-party escrow can save Filecoin funds, allowing customers and Filecoin miners to negotiate the retrieval and availability of data and spacetime.
2. The customer bidding system is called the storage market and the miner retrieval market. Customers bid for available space by offering Filecoin.
Filecoin miners compete with each other and respond to customer data requests. They get Filecoin rewards by completing the service quickly.
3. Filecoin's native cryptocurrency FIL serves as the network settlement unit. FIL can be exchanged for Bitcoin, Ethereum, Japanese Yen and U.S. dollars on exchanges.
4. Storage prices are freely floating and are determined by storage absenteeism and customer demand.
5. The Filecoin network supports Filecoin miners and customers to build smart contracts for complex operations, such as designing flexible reward strategies and conditions.
6. Interoperability with other blockchain platforms.
7. New storage certificate and copy certificate.
FIL: Miners participate in the collateral in the Filecoin ecosystem
Now let’s talk about Filecoin token FIL:
FIL is used as collateral for miners to participate in the Filecoin ecosystem, and the required collateral will be proportional to the storage space provided by the miners.
Filecoin official website display on filecoin mortgage has three different mechanisms:
1. Initial mortgage: the pre-mortgage for nodes to participate in network activities. If miners are found to be malicious, their token mortgage will be reduced.
2. Block reward mortgage: In order to reduce the pre-collateral demand, block rewards are also used as collateral.
If a hard disk storage interval is terminated before its expiration, the collective rewards of miners will be greatly reduced.
3. Storage transaction mortgage: the storage service provided by the storage provider to mortgage the transaction.
There are a total of 2 billion FIL tokens.
The distribution plan consists of four parts in total:
70% as the return of mining: Like Bitcoin, it is gradually distributed according to the progress of mining.
15% reserved Protocol Labs: as research and development expenses, the ban will be gradually lifted in 6 years.
10% is allocated to 1CO investors: According to the mining progress, the ban will be gradually lifted.
5% is reserved for the Filecoin Foundation: as long-term community construction, network management and other expenses, the ban will be gradually lifted in 6 years.
It should be noted here that the IPFS system is not equal to the FIlecoin system: IPFS is just a protocol, not the mining software itself;
Filecoin is the mining software, but it uses the IPFS protocol to run the system.
Since its inception, Filecoin has been placed high hopes and expectations by the industry. Before the mainnet went live, it had been hyped by gimmicks such as "pre-sale", "pre-mining", and "double-mining".
However, the progress of Filecoin is not smooth, the mainnet launch plan has twists and turns, and was once nicknamed the "king pigeon" by netizens.
On October 15 this year, Filecoin's official website finally announced that the mainnet was launched. Many well-known exchanges stayed up all night to support them immediately .
Nowadays, the demand for storage in the era of big data is increasing. Filecoin is also trying to use the blockchain solution to reform the storage field. IPFS may add more possibilities to the implementation of blockchain applications.
But the mainnet line has just started. What is the future? We are waiting for the answer sheet given by Filecoin