The impact of the Internet on us is obvious. Without the help of the Internet, few activities can be completed, and this will result in thousands of data messages being generated every day. Behind the huge amount of data information, a complete system is inevitably needed. The emergence of IPFS&Filecoin happens to be able to solve this problem.
On October 15, 2020, the Filecoin mainnet was launched , and the waves were surging. As the most anticipated blockchain project in 2020, more and more investors are beginning to pay attention to the field of IPFS&Filecoin.
One month after the mainnet went live, the block explorer statistics: Starting from the evening of November 10, the gas fee of the Filecoin network reached 1.1996nanoFIL on average in 24 hours, with a high premium and a huge increase in fees.
Gas is indispensable for blockchain projects such as BTC and ETH, because the essence of the blockchain is the process of bookkeeping, and network transactions are recorded by miners, and gas fees are paid to miners. Remuneration.
The concept of GAS
Filecoin is a blockchain- based economy where participants conduct transactions on a distributed network. The network status is updated by the miners recording and processing the messages in the blocks they mined. However, due to the limitations of chain performance, scalability, and verification time, the number of messages that can be processed in a block is limited. Therefore, at any given time, only a subset of messages on the network can become a block.
In addition, the execution of messages consumes computing and storage resources on the network. This is where "Gas" comes into play, it can be used to measure the resources consumed by the message. The "Gas" consumed by the message directly affects the cost that the sender pays to submit the message to the blockchain.
Gas translated into Chinese means "gas". It is the fuel of the Ethereum network world. It determines the normal operation of the Ethereum network ecosystem, just like the fuel of a car. Before you start a self-driving tour, you have to pay for the gas, which will be consumed when you drive the distance and drive the engine up and down the mountain. Similarly, message senders on Filecoin need to provide "energy" or "fuel" for message execution on the Filecoin blockchain.
In Ethereum, transactions, execution of smart contracts, or payment of data storage fees all require Gas (fuel). Gas exists inside the Ethereum virtual machine as a count of the computational workload. On the one hand, it serves as a reward for miners to pack blocks, on the other hand, in order to prevent malicious transactions from raising the threshold and maintain the normal operation of Ethereum,
Reasons for the increase in GSA fees
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It is understood that miners need to consume Gas when encapsulating new effective computing power. Even if the new effective computing power is not encapsulated, SubmitWindowedPoSt still needs to consume Gas.
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The rapid growth of computing power and the excessive amount of information lead to congestion: Since there is an upper limit on the number of transactions in a block, at any given time, only a subset of data on the network can become a block.
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TPS cannot meet the status quo: According to the set limit of the Filecoin network, only a few hundred messages can be packaged every 30 seconds (according to the size of the message), and too many messages will cause congestion;
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Miners choose to pack information by themselves: When the network is congested, the gas fee is too high, and miners choose to pack information by themselves, resulting in fewer miners actually packing information on the network.
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