The hottest star project this year is Filecoin. Undoubtedly, some people say that its market value will be N times that of Bitcoin in the future. Others say that they have missed Bitcoin mining. This time they must never miss IPFS mining. V | czdn222
So people look forward to, what features and advantages does it have, can it really be comparable to Bitcoin?
After in-depth comparison, it is found that Filecoin has advantages in at least the following three aspects.
First, as can be seen from the white paper, Filecoin has the following characteristics:
1. The total amount is limited: 2 billion
2. Decentralization: expected to far exceed 10,000 + full nodes
3. Stability and reliability: to be determined
4. Belief and consensus: IPFS The /Filecoin team is a team with faith, similar to the Bitcoin core development team
5. Consensus mechanism: POST
6. Other features: only recognize the private key, and the private key cannot be cracked
It can be seen that Filecoin, like Bitcoin, also has the characteristics of fixed total amount and decentralization. Obviously, similar to Bitcoin, Filecoin can be used as an option for asset storage.
Second, the consensus mechanism adopted by Filecoin is POST (Proof of Space and Time). Compared with POW, Filecoin mining based on POST does not consume energy, nor does it calculate "meaningless" hashes, but stores files and solves the problem of bits. Two issues criticized by currency. Obviously, Filecoin's POST algorithm is better than POW to some extent.
Third, friends who have carefully read the Filecoin white paper must know that Filecoin supports smart contracts.
In section 7.1 of the white paper, smart contracts based on Filecoin are as follows:
Due to the particularity of Filecoin mining, Filecoin's smart contracts will not consume too much GAS like Ethereum (Gas is used to measure how much "work" is required to perform certain actions), and the cost of running smart contracts will be very low. Will be a strong competitor of Ethereum.
Many people regard Filecoin as a "file" coin, thinking that its final price is determined by the supply and demand of file storage, and the target is cloud service providers such as Amazon. Ma Yu believes that this view is extremely wrong. The value of Filecoin as an asset storage and smart contract will exceed its value as a file storage. In this respect, it will squeeze the market of Bitcoin, Ethereum and EOS.
So the question is, when the market value of Filecoin, which integrates file storage, asset storage, and smart contract functions, exceeds that of Bitcoin, what price will a Filecoin be at that time?
According to preliminary estimates, at that time, the price of Filecoin reached at least several hundred dollars. Witnesses are indispensable on the road to success, so are you a witness or a participant? V | czdn222