FileCoin is really a god-level project in terms of technology - if you dial it down or dial it down, the bull market will definitely return a hundred times.

        Today we are going to talk about filecoin, a star player on the storage track. The previous highest market value reached 50 billion US dollars. When a fil was worth more than 200 US dollars, now it has a market value of almost 3 billion US dollars. We also heard during the bull market that many people bought mining machines to mine fil. Of course, we also heard that some people were calling it a blockchain scam. So, is it justice or a scam? Let’s take a look today.
        To talk about filecoin, first we have to understand what IPFS is, the interstellar file storage system. It is a network transmission protocol for distributed storage and file sharing. It was designed and developed by juan benet in 2014. The benchmark is our traditional HTTP Internet protocol. When we go online now, when we enter the URL, is there something https in front of it? This thing has accelerated the development of our Internet, and it can be said that it has contributed a lot, but its shortcomings are also being exposed.
1. Servers are centralized and costly;
2. Web files are often deleted, which means that our favorite pages may no longer be found when we open them next time, resulting in a 404 page;
3. Highly dependent on the Internet backbone network that is easily affected by external factors, leading to downtime and so on.
With the emergence of IPFS, these problems will be fundamentally solved.
        Compared with the traditional HTTP protocol, IPFS has the following advantages:
1. IPFS no longer relies on the backbone network and centralized servers. It connects all devices in the network through a file system, allowing files stored on the system to be quickly accessed anywhere in the world.
2. IPFS has historical version backtracking, data can be permanently saved, and all operations are reversible, just like our commonly used git.
3. IPFS can change the distribution mechanism of Web content and make it decentralized. It relies on CDN (content distribution acceleration technology).
4. In the IPFS system, files and data have unique existence. When a file joins the IPFS network, a unique encrypted hash value will be assigned to the content based on calculation.
5.IPFS has a file duplication detection mechanism, so there will be no problem of resource redundancy.
 
       Therefore, the design idea of ​​IPFS is very similar to the design idea of ​​Bitcoin, which is "one for everyone and everyone for one". It is also a decentralized network sharing method. If everyone can use part of their computer storage Contribute to the entire network, then others can download data scattered in the hard drive of the entire network around the world, but if these files are scattered and broken and distributed in different hard drives, it can effectively prevent the loss of website data, and users can When looking for something, it is not an address, but a specific content resource. Now we are looking for addresses, right? Then we can open the web page to find the downloaded content, which is very convenient. This is very similar to BT downloading. IPFS is actually a BitTorrent protocol, but it has some improvements based on it.
 
       Filecoin is based on the IPFS protocol and builds a decentralized storage trading market, including two markets: "storage" and "retrieval". This market runs on a blockchain with a native protocol token (FIL). Miners can obtain FIL by providing storage to customers; similarly, customers can spend FIL to hire miners to store or distribute data.
        To put it simply, it provides an incentive layer for ipfs, because if there is no incentive, it will be difficult to implement the "I for everyone, everyone for me", because without incentives, who is willing to put their own What if the computer storage is always open for others to use?
 
Filecoin is composed of 4 components:
1. Decentralized Network (DSN, Decentralized Storage Network)
2. New storage proof, two proof schemes are proposed. One is Proof-of-Replication, which allows the storage provider to prove that the data has been copied to his only dedicated physical storage device. Ensure that the only physical Copy, allowing the verifier to check whether the prover has deduplicated the copy of the data before saving it to the storage space. (2) "Proof-of-Spacetime" allows the storage provider to prove that the data is stored within a specified time some data.
3. Verifiable market, storage market and retrieval market
4. Effective proof of work (pow)
 
        Let’s talk about his DSN first. The DSN system gathers storage provided by multiple independent storage providers and can self-coordinately provide storage data and retrieval data services to customers. This coordination is decentralized and trustless: through the coordination of protocols and the verification operations of individual participants, the system can operate securely. DSN systems can use different coordination strategies, including Byzantine agreements, gossip protocols or CRDTs.
 
Let’s take a look at his two storage certificates:
Proof of Replication (PoRep): Proof of Replication is a new type of storage proof. Storage miners need to prove to the verifier that they store the corresponding data on a specific device, rather than storing multiple copies of data on one device. Filecoin uses replication proof to effectively prevent witch attacks, outsourcing attacks, and generation attacks.
 
Proof of Space and Time (PoSt): Proof of Space and Time is based on the proof of replication, plus timestamp and other technologies, to obtain a proof that miners have stored data over a period of time. Even if the user is not online, they can use the space-time proof at some time in the future to verify the data stored by the miners during that period of time. PoSt is generated when Filecoin verifies miners storing user data. Filecoin converts the miner's current storage ratio in the network relative to the storage ratio of the entire network into voting power of the miner, and reuses PoSt to generate consensus.
 
        Looking at his third point, Filecoin has two markets: the storage market and the retrieval market. The two markets have the same data structure, but use different design principles. The storage marketplace allows customers to pay storage miners to store their data. The retrieval market allows clients to pay retrieval miners to deliver data to them from the network. In both cases, clients and miners can set their request and demand prices, or accept current requests. Transactions between them all run through the network, which is a network of full nodes on the Filecoin chain. This network ensures that miners receive compensation from customers when they provide services.
        Finally, let’s talk about his consensus, Expected Consensus (EC): Filecoin’s consensus protocol is built based on Proof-of-Stake, and replaces the stake in the Proof-of-Stake consensus with storage. In each cycle Inside, it is expected that one leader miner will be elected, but in some cases multiple leader miners will be elected. The elected miners create new blocks and broadcast the new blocks to the network to obtain block rewards. The goal is to make the miners' rights to produce blocks proportional to their contribution to storage.
        Then take a look at its applications, such as decentralized content platforms. You must know that the current content platforms are in the centralized servers of each company. For example, if you post a video, it can be placed on Utube or TikTok. Music can be placed on Bilibili, etc. This results in a waste of resources. It can be stored using IPFS. Because the content is unique, this saves a lot of costs, and there is no middleman to make you any profit. All the profit is yours. , and you don’t need to upload to every platform, saving yourself time.
        There are also photos or storage backups of your own. I know that many current parents store photos of their children in the cloud, such as QQ space. You have to know that once Tencent goes bankrupt, these photos will disappear.
       Of course, there are also decentralized music software, social software, etc.
 
        After reading the white paper, let’s take a look at his website. The page is very simple. It only talks about the vision of Filecoin, which is the solgan of the website. Filecoin is a distributed network that stores important information about human society.
        Then I took a look at his github and saw that it was always being submitted, which shows that the team has been working on things.
        In conclusion, Filecoin is also doing a big thing. If it can be done, it will be really great. Moreover, their team also worked on IPFS at the beginning. IPFS does not have anything related to blockchain, but it has encountered bottlenecks. , because without incentives, there would be no path for everyone to work for me, so the combination of blockchain technology is actually an improvement. Judging from the overall social resource situation, it has indeed improved productivity and saved global resources, but it is still in the application stage. We know that there is a technology with a trend chart. First, it is the enlightenment period of the technology, and then it rises. In the period of inflated expectations, it drops to the trough, then to the recovery period, and then to the period of large-scale application, so at least it is already in the trough period now, and it is crawling on the Internet. The rest is a matter of time. So from a fundamental point of view, there is no problem with fil. Moreover, fil is an important component of web3, and FVM (the virtual machine of filecoin) was launched some time ago, and then the currency price also skyrocketed. So overall, there is no problem with fil's long-term fundamentals, just wait and see.
 
 