Filecoin (FIL) has attracted the attention of players in the currency circle with an increase of more than 7 times this year, and it has also set off an upsurge of offline mining machines. The crazy rise of FIL has attracted a wave of investors from outside the circle to join in, but these newcomers in the currency circle do not have a deep understanding of FIL. Today I want to use this article to help these people fully analyze FIL.
What is FIL
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FILs track advantage
The main track of FIL is decentralized storage. Todays commercial storage is built on centralized servers and storage devices. With the increasing calls for decentralization, decentralized storage is also a trend in the future . FIL adopts an innovative hybrid consensus mechanism, including Proof of Replication (PoRep), Proof of Time and Space (PoSt) and Expected Consensus. Through these three consensus mechanisms, the contributions of miners can be effectively verified and the rights and interests of miners can be balanced, making the entire network ecology more transparent and fair.
FIL provides storage and retrieval services for IPFS, and IPFS is not only a storage technology, but also a transmission protocol. Its benchmark is HTTP (Hypertext Transfer Protocol), and it is determined to build a distributed web 3.0 . Web 3.0 is a new stage of the Internet, which will provide customers with more secure, stable and decentralized network services.
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The penalty mechanism that miners must know
As the price of FIL continues to rise, more and more investors are participating in FIL mining. Before joining the mining army, FIL miners must understand the four punishment mechanisms in advance to avoid unnecessary losses.
1. Consensus mechanism punishment: For a miner who cheats by submitting multiple blocks, all the mortgage coins of the miner will be deducted, and the storage computing power will be cleared and cannot be recovered;
2. Space-time proof error penalty: If the space-time proof submitted by the node does not conform to the corresponding cycle, an error penalty will be imposed;
3. Failure to submit the space-time proof: If the node fails to submit the space-time proof within the certification period, all pledges will be fined and the computing power will be cleared.
4. Punishment for violation of the contract: Nodes that fail to perform storage services in accordance with the contract requirements will be required to return the customers fees and confiscate the corresponding storage pledge.
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Ideal and Reality of FIL
Due to the high threshold of FIL mining, many small investors are turned away, which forms a centralized storage system in disguise. These storage computing power are in the hands of a small number of people, which runs counter to the decentralized purpose of IPFS itself.
FILs strict miner punishment mechanism makes FILs network unstable. Although FIL has a high mining threshold, it is easily replaced. If a new decentralized storage model emerges and the bonus period of FIL mining has passed, many miners may choose to abandon FIL and choose new projects. At present, there are already many competing FIL models on the market, which is also a challenge that FIL needs to face.
Regardless of the future development of FIL, the innovative concept of FIL is also exciting. On the track of decentralized storage and web 3.0, great companies will definitely be born. We hope that FIL can go further.
