Several important points to know to enter IPFS:
What is IPFS?
The Chinese name of IPFS is the Interplanetary File System, which is the underlying Internet protocol. There are three types of underlying Internet technologies: computing (computing power), transmission (bandwidth), and storage. IPFS is a decentralized distributed storage that fills or replaces the traditional centralized storage that has been used for more than 20 years: the Http underlying protocol.
Compared with traditional Http, IPFS has the following advantages: low cost, high efficiency, safer, longer lasting and high privacy.
What is filecoin?
Filecoin is a decentralized storage network that transforms cloud storage into an algorithm market. Miners obtain tokens (also known as "filecoin") by providing data storage space and obtaining data. Instead, customers pay buyers to store or distribute data and obtain data.
What is Filcoin mining on IPFS?
First, in the BT era, everyone has used Xunlei or Kuaibo. On this network, many people just want to download data and don't want to upload data. In fact, they don't get much. Download a file that is 99% undownloadable, I believe many people have experienced it.
In fact, the file has been downloaded, and the reason why you are not allowed to leave is that you need to use other users as a data source. Filecoin is popular, which is equivalent to establishing a bidding market in the IPFS protocol network. Every user who provides storage and retrieval services (usually called miners) can benefit from it, and the miners who initially participated in the mining can benefit from it. beneficial. The income obtained from Filecoin mining is mainly block rewards, storage income and gains. This is actually the same as an early excavation by bitB. Take bitB as an example, bitB is the first blockchain project to successfully implement applications. Its application scenario is to use currency as a medium of value exchange.
In order to realize this application scenario, there must be a "non-tamperable accounting mechanism", that is, a distributed ledger is written in a block. Because the bookkeeping method is very important, objective rewards are given to those who succeed in bookkeeping. Therefore, many people will compete for the right to keep accounts. They will invest in equipment to improve the computing power of the entire network and strengthen the entire accounting network. Without considering market factors, according to the above logic, a cycle of miners joining will be formed, the accounting network will be strengthened, the currency value will rise, and the mining revenue will increase, which will encourage more miners to join until the final mining revenue and expenditure are basically balanced.
Therefore, mining has high incentives and high returns because it guarantees the value of the project.