Since the birth of Bitcoin, blockchain projects have been committed to bottom mining. As a public chain, Filecoin also proposed its own decentralized mechanism: a mining mechanism based on storage computing power.
Filecoin miners have performed some complex calculations on the network, and the results of this calculation are proof of their workload. This process includes two very core functions, namely VDF (verifiable random function) and zkSnarks (zero-knowledge proof). The calculation results show that the entire mining process is performed by miners.
To participate in Filecoin mining to obtain FIL coins, the equipment that needs to be prepared for mining is the mining machine with reference to the official benchmark configuration. In short, it is actually a high-standard enterprise server plus a hard drive, not a large mining machine with a high threshold. In addition to hardware, Filecoin mining is more about testing the professional hosting operation and maintenance and technical optimization capabilities of miners. High-speed bandwidth, 24-hour stable power supply, dust-free environment and cluster scheduling are the core elements of Filecoin mining technology.
Filecoin mining is different from Bitcoin: Bitcoin mining is a pure computing power competition, and computing power is determined when the mining machine is manufactured, and there is no room for change; while Filecoin mining obtains Fil coins The size of the reward depends not only on the percentage of storage computing power in the entire network, but also on the success rate of storage transactions and retrieval transactions.
Next, we will introduce the key indicators of Filecoin mining.
The first is packaging speed. Simply speaking, the packaging speed represents the speed of data storage during the proof-of-copy phase.
We can see the importance of packaging speed through the following formulas
1. Daily effective data storage of miners = packaging speed (GB/h)*24h
2. Hard disk package full storage time = hard disk size / daily effective data storage * 1024
3. Daily coin production of FIL tokens = cumulative effective data storage / effective data storage of the entire network * daily production of coins on the entire network
4. Cost-effectiveness of a whole machine = packaging speed, hard disk sales price, software operation and maintenance strength, etc.
The basis of Filecoin miners' computing power is effective data storage. Deciding the probability of block production is related to the packaging speed. The faster the encapsulation, the faster the effective computing power grows, the more coins are naturally mined.
Second, the number of pledges per sector. In view of the long-term stable development of the network, the project party has formulated a Filecoin mining pledge mechanism, and miners participating in storage mining must pledge a certain amount of FIL coins.
According to the official Filecoin economic parameters, the miner pledge formula is as follows
1. Miner pledge amount = miner hashrate pledge + miner storage pledge
2. Miner's hashrate pledge amount = FIL circulation * hashrate pledge ratio * miner's entire network effective hashrate
3. Storage pledge amount of miners = FIL circulation amount * storage pledge ratio / number of miners
The pledge mechanism of Filecoin mining . Storage miners need to mortgage FIL tokens in sectors that have completed the time-space proof to obtain the right to block. The purpose of mining pledge is that the government hopes that miners will not happen to damage the security of the entire network during the mining process.
Investors who want to learn more about IPFS and Filecoin can follow the official website of the IPFS China Community: http://ipfs.cn and the official website of Space Cloud Technology: http://yunos.io