Filecoin ecological construction and future development trend?
IPFS is a peer-to-peer distributed file system. Filecoin is equivalent to providing an incentive layer for IPFS. It was established to promote the application of IPFS in the market, and it will become the basis of all blockchain data storage in the future.
Ethereum deploys its official website to IPFS, which is equivalent to a cloud server in the traditional market, providing services such as space for the website.
IPFS and traditional HTTP are both transmission technologies, but the goal of IPFS is to one day replace HTTP as the new mainstream transmission protocol. Many large network companies are very concerned about this technology. Huawei took the lead in establishing an IPFS computer room in Cangzhou.
(1) Filecoin ecology and development history
The driving force of Filecoin ecological growth mainly comes from the use cases, tools and infrastructure of all Filecoin stakeholders.
Since the Filecoin mainnet was released on October 15, 2020, it has surpassed several important milestones:
1. The storage capacity of more than 700 miners exceeds 1EiB;
2. An ecosystem composed of more than 90 projects-available Build applications, developer tools and infrastructure on the Internet;
3. More than 200 new projects join the ecosystem through hackathons and accelerators;
4. More than 5,400 developers have contributed to the project’s GitHub source code repository;
5. Many application cases have been developed, including consumer storage applications, archive storage, defi, decentralized video, etc.
If you want to know more about the status of the Filecoin ecosystem, you can look back at the beginning of "Liftoff Week" or update the information on the network after October 2020.
(2) Filecoin project advantages
The Filecoin network is mainly composed of independent data storage miners, retrieval miners, and storage services that hire miners. As a distributed data storage network, Filecoin is both the incentive layer of IPFS and the storage of IPFS. IPFS serves as the technical support of the entire Filecoin system. The two protocols share multiple functional modules.
The Filecoin bidding mechanism is conducive to reducing the price of storage services. Filecoin miners participate in network governance and compete for block packaging rights by providing effective storage as computing power. The miners in this network earn retrieval fees by searching for miners, while storage miners earn storage rents and block packaging rewards.
(3) Filecoin as a utility token
The overall primary economic goal of miners, developers, researchers, customers, and token holders is to effectively produce attractive storage-related products and services that can be exported to the outside world.
(4) Filecoin mining is the best way for IPFS to gain revenue
Filecoin has a pledge and punishment mechanism, and the security of the system interacts with the economic mechanism.
There are two types of pledges in the Filecoin network, promise pledges and storage pledges. The double pledge mechanism in the Filecoin network encourages miners to provide better services in order to obtain benefits.
The FIL coins punished in the Filecoin network will be used as rewards for reporters and executors to promote the healthy development of the network.
In the future, the value of Filecoin will gradually increase, and more and more miners and investors will participate. This also shows that it is especially important for investors who are optimistic about the Filecoin project to participate in mining!