IPFS vision:
Since mankind entered the Internet age, information technology has subverted the way we communicate and collaborate, and has brought tremendous convenience to human society. However, the Internet technology that we used to be proud of is now facing huge challenges.
Due to the rapid development of the information industry, the entire network is currently facing an explosive growth of data. At the moment, more than 50 billion GB of data is generated every day in the world, and the storage capacity doubles every two years. Data is the sum of all data in 400 years of human history.
Especially with the advent of 5G technology, our world will be overwhelmed by massive amounts of data. First of all, IDC predicts that the total amount of human data will reach 175ZB in 2025.
If stacked with DVD storage, it can circle the earth 222 times, or go back and forth to the moon 23 times!
Faced with such a huge storage demand, how should our Internet respond?
Not only that, the high concurrency and excessive redundancy brought about by centralized storage, data security, and the high cost of privacy leaks also indicate that the traditional Internet has already encountered a bottleneck, and the call for more efficient storage methods is increasing. .
Therefore, the world's outstanding brains quickly reached a consensus in the collision, the center is unreliable, we must find a way out in the revolutionary distribution. Since then, the IPFS interplanetary file system turned out, and this time we will reshape the Internet.
What exactly is IPFS?
InterPlanetary File System (abbreviation: IPFS), the Chinese name is InterPlanetary File System, it is a kind of Internet underlying protocol for hard disk sharing, just like Didi, this kind of taxi software.
IPFS can create a storage network that "allows more people to share their idle storage space and gain revenue." We call this storage method where everyone shares hard drives as distributed storage.
Why do we need distributed storage?
Today's Internet technology has three major foundations, namely computing power, storage and bandwidth. The storage sector can be said to be the foundation of the entire Internet.
At present, the storage methods used in traditional networks are centralized. First, a centralized storage node is established, and then all terminals in the network are connected through the http protocol. With the development of the Internet for more than 20 years, centralized storage has gradually exposed a series of problems.
Mainly reflect:
First, the storage and transmission efficiency is low,
Second, the data security problem is serious.
Third, storage costs are high.
In response to the shortcomings of these centralized storage, in 2014, a doctor of computer science at Stanford University named Juan Bennett, he innovatively proposed a distributed storage concept to optimize Internet centralized storage.
Therefore, in May 2014, Juan Benite launched the IPFS interplanetary file system project, and received a huge investment in the world-renowned YC incubation competition in the second year, and finally established a development team agreement laboratory.
Can IPFS really solve these shortcomings of traditional Internet storage?
Answer: Yes. First, the files stored in the IPFS network are broken up into several 256kb file fragments through a special encryption algorithm, and then these file fragments are scattered and stored on the servers of miners around the world.
When users need data, they need to input instructions, and the nearby nodes that store the same data will transmit data to you at the same time, which can effectively reduce the possibility of high concurrency and greatly improve the efficiency of data transmission.
For example, if all vehicles are driving on the same road, it is very likely to cause traffic congestion or paralysis, but if we have many roads to choose from when we start, the probability of congestion will be much reduced.
Not only that, because the working principle of IPFS is to divide the data into parts and store them in different nodes, so each node does not get all the data, but a 256kb file fragment.
Therefore, this distributed storage method can also effectively avoid security issues such as natural disasters, hacker attacks, and data leakage. At the same time, IPFS can also save a lot of bandwidth resources and reduce data redundancy, which is very cost-effective. This is why IPFS is so popular in the world.
What is Filecoin?
The IPFS official team, in order to encourage everyone to join the distributed storage network and provide high-quality services, the Protocol Lab has added an extremely important incentive layer to the IPFS protocol, which is the much-anticipated blockchain project Filecoin.
Therefore, IPFS is not a blockchain, nor a certain kind of token, but an Internet protocol. Its goal is to supplement or even replace the HTTP protocol, the underlying Internet transmission protocol;
Filecoin is the incentive layer of IPFS, a payment transaction token for distributed storage nodes under the IPFS protocol, token: FIL
Filecoin's value vision:
With the launch of the mainnet, Filecoin's popularity is rising. Many investors are considering whether to invest in Filecoin. How to correctly measure the investment value of Filecion?
The first is the investment risk of Filecoin:
As the only official certificate of IPFS, Filecoin has a very high threshold for fundraising. Investors must be qualified investors recognized by the US Securities Regulatory Commission, and the fundraising procedures comply with the law.
On August 10, 2017, Filecoin raised US$186 million in one hour, and finally raised US$257 million, which is the largest ICO in the history of blockchain.
This just shows that the IPFS official team's very stable style of work and the huge influence of IPFS&Filecoin in the industry have also been recognized by the world's top investment banks.
Top investment banks that invest in Filecoin:
Stanford University: A world-renowned research university, the founder of IPFS, Juan Bennett, is a PhD in computer science from Stanford University. IPFS technology from his alma mater also gives the greatest degree of support.
Sequoia Capital: In the past 50 years of investment career, we have invested in nearly 50 domestic Internet giants such as Alibaba, Ant Financial, JD Meituan, Didi Mobike and so on. They have very unique investment vision and have won A huge success.
In addition, there are the famous YC entrepreneurial incubator in the United States, the financial predator DCG in the field of digital currency investment, etc., and the Brunei Brothers Foundation. It is worth mentioning that the two founders of the Leverth Brothers Foundation are called He is the most successful speculator in the world.
The reason why I chose to invest in IPFS is enough to prove that the future value of this technology and the incentive layer Filecoin is unlimited. Finally, Anderson Horowitz, as one of the top venture capital firms in Silicon Valley, has invested in more than 90 world-renowned Internet companies!
IPFS investors are very good. Judging from the pace of who they invest in and who is posting, Filecoin must not be a small project in the future.
The return on investment of IPFS technology has been evaluated by the top venture capitalists of these large companies, and the investment risk has also undergone a rigorous evaluation and review. These institutions are very cautious and strict when investing in a project.
They have their own professional risk control team and conduct audits in accordance with a very detailed and comprehensive standardized process.
Therefore, these professional teams use professional methods to analyze, and the results obtained are definitely much more reliable than the results obtained by our personal use of limited energy and limited resources.
Obviously, the ability of these top investment institutions to invest in a certain project indicates that the prospect of this project is very huge.
Another angle to measure the investment value of Filecoin is to judge whether the IPFS technology is mature and whether it can be implemented.
Since IPFS was launched in 2015, nearly 30 billion files have been stored on the Internet, and a large number of applications have been developed based on the IPFS protocol worldwide.
For example, the decentralized video platforms D-tube and Bit-tube, the decentralized social platform Akasha, which cooperates with Ethereum, and IPFS is used by the German Space Center to store telemetry data.
Data storage such as EOS, ETH, and imToken wallets also use IPFS technology, the Library of Congress and WikiLeaks also use IPFS network storage data, the Canadian government has also established an Ethereum browser hosted on the IPFS network.
In November last year, Thai political parties also used the blockchain + IPFS electronic voting system for the first time in the election. Google and Firefox already support the IPFS protocol. The Protocol Lab officially announced a research cooperation with the Ethereum Foundation. .
In addition to the above applications, the official team has made some exciting progress recently.
For example: Microsoft and IPFS have joined forces, and the IPFS beta application has been put on the Microsoft Store, indicating that Microsoft intends to promote the development of distributed storage based on blockchain technology. It also shows that IPFS is a major revolution in web3.0.
IPFS will be more promising in the future, and many fields or enterprises will use IPFS distributed storage.
For example, blockchain-related projects are early adopters of new technologies, and sensitive video, pictures, audio and other projects are early beneficiaries of new technologies to solve traditional problems.
These are the most widely used ones that are closely related to our ordinary people. There are also large-scale commercial projects such as videos, such as Yotube and Douyin, which are the beneficiaries of migration during the mature technology period;
There are also conservative large-scale professional projects such as medical and municipal video, which belong to the beneficiaries of migration during the popularization period, and finally, there are super large-scale professional projects such as astronomy, which belong to the beneficiaries of no perfect traditional solutions.
Through the above five areas, all enterprises, businesses and users, if they want to use the IPFS protocol for distributed storage, must pay Filecoin [FIL currency] as a storage fee.
This will bring huge demand to Filecoin, demand determines value, so Fil will increase in price with the application of the IPFS protocol.
Filecoin distribution mechanism:
The total number of Filecoin issuances is 2 billion. 5% Fil is used to establish a foundation to develop the community ecology. It will be released linearly in six years. 10% Fil is a venture capital institution. 10%, public offering is locked for 6 months, and private placement is locked for one year. With the mining volume, gradually release.
The 15% Fil protocol laboratory will keep it for itself as a future technology development and will be released linearly in six years.
The largest piece of 7 billion pieces are rewarded for mining work, encouraging global miners to provide data storage services for all users. It will take 40 years to complete the mining and a 6-year halving mechanism.
The distribution of Filecoin is carefully thought and designed, not a random act.
The protocol laboratory has also done a lot of analysis for this to ensure that the token issuance process is smooth, and there will be no sudden release of a large number of tokens, which will cause violent fluctuations in currency prices.
What's more worth mentioning is that all tokens of Filecoin need to be obtained by mining. This design fully guarantees the income of miners. I believe that after reading this, you have already understood why there is a saying in the currency circle: miss Bitcoin and Ethereum, don't miss Filecoin.
How to participate in Filecoin investment
There are three ways to invest in Filercoin:
The first is to carry out ecological construction in the downstream of the Filecoin industry chain.
Second: It is to trade in the middle of the industry chain, that is, the exchange.
Third: It is mining in the upstream of the industrial chain.
The first method of ecological construction actually belongs to the category of entrepreneurs, who can develop related supporting products and various applications based on the IPFS protocol and the Filecoin network.
The second way is to trade in the trading market.
The third way is to mine in the upstream of the industrial chain. In fact, the so-called Filecoin is just a metaphor for the image. Its essence is a data access service. It is fundamentally different from Bitcoin and other computing power mining. .
We all know that Bitcoin mining consumes huge computing power to make hash collisions. The whole process is very energy intensive. This way of consuming electricity does not provide any meaningful value for human society.
But Filecoin is different. It creates a distributed storage trading market through the IPFS protocol and token incentives.
Filecoin miners obtain income by providing high-quality services, so Filecoin is not a kind of energy-consuming mining, but a kind of contribution mining. The entire service process does not consume much power.
Due to the huge global data storage market, IPFS and Filecoin will definitely win users' recognition and success by virtue of their advantages. This is also the reason why world-renowned venture capital institutions are keenly aware of wealth opportunities.
Filecoin mining revenue
The income of Filecoin miners comes from three aspects: storage income, retrieval income and block rewards
Two things to know:
1. In the early stage of Filecoin development, revenue comes from block rewards. With the continuous development of the Filecoin ecosystem, the distribution of new coins continues to decay. In the later stage, miners mainly focus on storage revenue and retrieval revenue.
2. All income of miners can be traded on the secondary market at any time.
Filecoin mining needs to pay attention to four factors that determine how much miners earn:
1. Competitive quotation. As mentioned earlier, Filecoin is a distributed storage free trading market.
The user chooses who will provide the service through the quotations of the miners. If a miner can give a competitive quotation, it will greatly increase the probability and quantity of his orders, and naturally the benefits will be higher.
The biggest highlight of Filecoin is that miners use free competition to allow users to enjoy the lowest price service.
However, since the market conditions of the storage market are constantly changing, the miners' quotations should also be adjusted in real time according to the market conditions to maintain their competitiveness.
However, the realization of this action depends on the software service provided by the mining farm or the mining machine manufacturer in the later period, and the algorithm is used to calculate and analyze the market quotation, and adjust the miner's quotation in real time to always maintain the miner's competitive advantage.
2. The principle of proximity. Because Filecoin optimizes the transmission efficiency of the entire network, the network distributes orders nearby.
This is very similar to Didi, the taxi-hailing software. Whoever is close to the passenger will give priority to this order. This requires miners to have high-quality bandwidth resources, such as hosting the mining machine in the IDC computer room on the national backbone network. Reduce network latency.
3. Server hardware. According to the current development network Devnets test, the entire network now has very high requirements on the hardware of the mining machine, especially the performance of the CPU.
If the performance of the mining machine is not good, the probability of the miner getting an order will be affected. If the miner cannot submit a retest certificate within a valid time due to the limitation of the performance of the mining machine, the network will treat it as a bad node and impose penalties.
4. Punishment mechanism. Since Filecoin mining is essentially a service, in order to ensure the quality of service for miners and the normal operation of the entire network.
The development team has innovatively added a penalty mechanism, and miners must pre-mortgage a portion of the token before obtaining an order.
This mechanism puts forward a requirement for miners. The server must operate normally within 24 hours without power or network disconnection. It must also have high-quality bandwidth and hardware, otherwise the network will confiscate the tokens pledged by the miners.
Filecoin is currently the only blockchain project that can achieve real applications. This is a major advancement in blockchain technology. Moreover, the incentives of the Filecoin mainnet are very clear, and the distribution of the certificate Filecoin is set by the mainnet. The mainnet is launched, Filecoin's token potential is further stimulated, and more people will realize the value of the token.
No matter what you think of [Filecoin], distributed storage is an inevitable trend! Under the new business model, greater value will be stimulated and billions of wealth will be created!
The star project Filecion is rushing to the sci-fi virtual era at an incredible speed, turning dreams into real life.
The crypto market will usher in a big bull market in 2021! "Web3: Digital Resource Economy" has opened a new door to the digital world, and Filecoin is heavily blessed!
Filecoin's vision and goal is to become a cornerstone network that carries human civilization, that is, all human civilization data can exist, flow and trade in this network.
[Filecoin] The investment value of Filecoin is being recognized and supported by the capital market! Web3.0 ushered in an inflection point, Filecoin shakes the centralization hegemony!
As the application of IPFS technology continues to mature and the value of the Filecoin industry continues to expand, the demand market for distributed storage will be fully opened, and its global server vendors and the capital behind it will further increase the value of the entire industry.
Filecoin's mainnet has been online for three months, showing strong explosive power! With the blessing of Polkadot, Gemini, Cloudflare, Ethereum and other giants, the future is infinitely vast and brilliant!
Filecoin will grow into a unicorn without competitors! IPFS and Filecoin complement each other, leading the development of blockchain, and the future appreciation space is unlimited!
IPFS and Filecoin complement each other, not only leading the development of blockchain, but also building a freer and more open network with unlimited room for appreciation in the future!