What is the value of Filecoin? Many people have heard of IPFS technology, but may not know what the use of FIL currency is? FIL is a token for its client to store data. Filecoin aims to inspire people participating in IPFS networks through its blockchain and token reward storage and retrieval data and files. Let's take a closer look at the value and use of File currency.

What is Filecoin?

Filecoin is a decentralized storage network based on the Star File storage (IPFS) protocol. It aims to use unused storage space to enter an efficient storage market and pay low -cost storage for users. The goal is to ensure that file storage is permanent and distributed on the Internet. Dropbox, Google or Amazon network service, is stored in the servers owned by these private companies in these solutions.

Filecoin (Fil or ⨎) is also a currency for decentralized storage networks. Customers who want to access storage must be Filecoin storage. On the other hand, the nodes that provide storage for the network will pay for it at Filecoin.

Filecoin's history

IPFS's 2014 technical theory had the prototype, and it has been quite mature so far. Filecoin, as an IPFS technology storage layer is closely related to the real economy, is unique in the field of blockchain, and is still leading in the field of distributed storage. It is not only a blockchain project, but also a distributed storage project.

What is IPFS?

IPFS represents InterplaneTaryFilestorage, a development of the point storage and file system protocol by Protocollabs. When the file is uploaded to the IPFS on the Internet, the file is specified as the only signature, and multiple nodes can host the entire or part of the file. Any user who can access the address through the only signature can ask the file. Because the copy of the file can be stored in any node, it is distributed, so the existence of the file on the Internet is flexible. Many people think that IPFS is equally important to the BitTorrent protocol created by Bramcohen.

Filecoin distributed storage and distributed retrieval has two core values.

Distributed storage

Distributed storage is the main task of all storage miners. The process of incorporating the storage space into the main network is called "mining". At present, the storage space of the Filecoin main network has exceeded 15EB. In the Internet era, data is the most critical factor for establishing network value. This logic is not only suitable for traditional Internet, but also for popular "Yuanjie".

Distributed retrieval

If we simply store data, its value cannot be realized, and storage is just the beginning. In Web2.0, servers that exchange networks through CDN are all over the world. No matter how fast the data flow in the network is, it is still limited by physical distance and will affect information exchange. Filecoin has been greatly improved by constructing a global distributed storage network. In the data retrieval market, Filecoin has made great progress.

Filecoin's economics purposes

Token economics is a "economic model" (business model) term used to describe new digital assets. Blockchain theorist and strategist Williammougaya defines tokens as to token

The value units created by the organization are used for independent business models, authorized users to interact with products, and promote the distribution and sharing of rewards and interests.

Fil is the blockchain of the Filecoin blockchain. Fil is used as Filecoin economic incentive. The agreement itself rewards those who provide storage capacity for the network.

Like many digital assets, FIL is fundamentally valuable due to supply and demand, which makes it similar to goods.

Filecoin's demand side

The needs of the three major participants in Filecoin:

1. Storage miners

Storage miners-store data for customers to earn file currency Filecoin ecosystems with infrastructure. To ensure that incentives are consistent for a long time, Filecoin's mandatory storage miner Fil provides collateral.

Use the current mortgage requirements and make some assumptions on the growth of the network. We can estimate that the storage miners will be locked in the number of FIL.

2. Customer

Logically, the FIL demand should come from customers. Filecoin and later storage FileCoinReTrieval) customers will need to get Fil to pay their "storage contract".

Filecoin provides users with unique value propositions (concentrated from existing enterprises). Moreover, due to a large number of subsidy contracts, the cost is much cheaper. This makes it a great choice for cheap long -term storage (file storage). The cost of the FileCoin contract is about 3%of AMAZONWEBSERVIES (AWS) GlacierDeep archive costs. If the customer wants to store data for a long time, the cost savings start to become very eye -catching, especially the large data set.

It is difficult to predict the needs of customers to work overtime, but there are some key factors. The first is the scale of data storage requirements. We are quickly entering the demand for data that supports artificial fields (AI) and the Internet of Things (IoT) worlds. We need to be cheaper than today's data storage solution: it may be 100 times cheaper than today. The demand for US dollars will be transformed into FIL demand.

3. Investor

Investors will also play a key role in FIL in demand. In the initial stage of network development, investors will hold more potential returns. The timeout FIL should transition to the Filecoin platform users, and the price is determined by the supply and demand of the FIL. FIL should reflect the long -term value of the price Filecoin network to make it more stable, thereby reducing the attractiveness to investors.

Nevertheless, investors always hold some FIL, and FIL borrows (may be given to miners) when investors earn income.

common problem

What is the price of filecoinico?

Filecoin issued the initial coin (ICO) price from $ 1, an increase of $ 1 per 40 million, and the upper limit of each token was $ 6. On August 10, 2017, Filecoin's team has successfully raised more than $ 200 million.

Filecoin Who is the founder?

Protocollabs is the company behind Filecoin, founded by Juanbenet.

Is Filecoin on Ethereum?

No, Filecoin has its own blockchain network and is specially used for network storage.

Is filecoin online?

Yes, Filecoin's main network has run in real time on October 15, 2020

What are the competitors of Filecoin?

Other storage networks also provide distributed file storage storage Storj, Siacoin, BitTorrent, Arweave incentive cryptocurrency, such as other storage departments, such as coins.