With the continuous development of computer technology, more and more data are produced. According to statistics, the number of newly generated data is increasing geometrically every year. And with the continuous popularization of Internet of Things technology and 5G technology in the future, the speed of data production will also accelerate. Therefore, the storage and transmission of data is likely to become a bottleneck restricting the development of technology. The Filecoin technical solution is to solve the problem of data storage and transmission. V czdn222
In 2017, the Filecoin project raised US$186 million in one hour, and finally raised a total of US$257 million, which is one of the largest financings in the history of blockchain. It is worth mentioning that Filecoin has received investment from many well-known institutions such as Sequoia Capital and Winklevos Capital.
Filecoin aims to provide two trading markets based on the P2P network-data storage market and data retrieval market, to match the needs of different users for data storage and retrieval. To put it bluntly, in the storage market, users with storage resources can contribute their own storage resources and provide storage services to users with storage needs. Both parties use Filecoin tokens for transaction settlement; while in the retrieval market, users with bandwidth resources It can provide data retrieval and download services for the Filecoin market. Similarly, both parties to the transaction use Filecoin tokens for transaction settlement.
It can be seen that Filecoin encourages more people to take out their idle machine resources through the token economy, and provides efficient data storage and retrieval services through a fully peer-to-peer network architecture, reducing the cost of data storage and use. And this is a decentralized architecture, which means that data will not be controlled by a centralized organization, and the privacy of data can be better protected accordingly.
In addition, Filecoin's token distribution strategy is also worthy of attention. Of all tokens, 70% of the mining work allocated to Filecoin will be mining rewards to maintain the operation and stability of the system; 15% will be allocated to Protocol Labs, the development team of Filecoin, but there is a 6-year lock-up period. Mainly used for project research and development, marketing, etc.; 10% will be allocated to investors, and there will be a lock-up period ranging from 6 months to 3 years to maintain partnerships and business development; the last 5% will be allocated to Filecoin Fund Yes, and there is a 6-year lock-in period like the development team to ensure long-term network management, public work, community building, etc.
To sum up, the number of tokens allocated to miners accounted for the vast majority, and the tokens given to the team and the foundation have a 6-year lock-up period. The distribution of tokens fully considers the incentives for miners and token holders. These designs will greatly Improve the user’s confidence in the system. V czdn222