How can Filecoin miners increase their coin production? Explore the Filecoin economy in depth together
The Filecoin network is a complex ecosystem with many different participants. These include Filecoin users, miners and developers, as well as FIL token holders and ecological partners.
There are many areas that need improvement in today's storage environment. Reliable storage can be expensive, and it generates more data than actually stored, and data storage is highly centralized. The top five vendors control nearly 77% of the cloud storage market. This creates a situation where it is difficult for new entrants to gain a foothold in the storage market.
Filecoin aims to establish an open storage economy to solve these problems and provide a platform that makes individual providers more feasible and innovative in the existing competition. At present, as the basis of various differentiated services, the network has realized a complete storage and retrieval economy.
Each participant in the Filecoin ecosystem plays a role, gains benefits from mutual achievement, and encourages each role to cooperate and compete in a way that maximizes network utility. These roles sometimes overlap; for example, miners are still key contributors to development, and the investment of token holders in miners and developers is critical to the growth of the ecosystem.
Filecoin's basic protocol encourages network participants to act in favor of the network. The mechanism of rewarding and punishing storage miners (the role that provides storage capacity on the Filecoin network) is a typical case.
Anyone can become a storage miner, but miners are not eligible for rewards until the minimum amount of storage is placed on the network. The operation of storage on the ground is proof of the reliability and capacity of the network. If these storage commitments are easily violated, the network will lose its reputation. Therefore, miners who promise capacity to the network must pledge Filecoin tokens (called FIL) as collateral, which guarantees the possibility of miners not fulfilling their promises.
As a reward for the risks taken, storage miners are eligible to receive block rewards, which are paid to storage miners in proportion to the amount of storage provided to the network. Storage miners can also conduct mortgage transactions with users, and users pay them FIL in exchange for storing specific data.
The network also empowers users through Filecoin Plus (https://www.youtube.com/watch?v=-kxNpRiEd_c). Filecoin Plus is a community-managed notarization project that allows verified users to conduct special storage transactions. These transactions will receive a revenue multiplier, which makes them more valuable to the storage miners who store these data, and gives users a leverage effect.
In addition to storage economy, Filecoin also implements all the components required for retrieval services, providing a foundation for the global content transmission network.
The Filecoin mainnet has been online for 8 weeks. During this period, whether it is new miners or huge growth in platform-based new applications, people are targeting emerging business opportunities in the Web2.0 and Web3 fields.