What is the profitability of Filecoin mining? Relatively speaking, it is definitely not as difficult as Bitcoin and Litecoin mining. Filecoin mining is still very favorable. Let ’s take a look at the knowledge related to Filecoin mining. At the same time, how much Filecoin tokens are currently made with data storage?

Interpretation of Filecoin mining

Similar to Bitcoin, Filecoin competes with each other in order to excavate and create blocks. Compared with Bitcoin, Filecoin's mining capacity is directly related to active storage. The system aims to create an incentive structure that allows miners to accumulate storage space as much as possible, so as to rent the storage space to customers in turn. Data storage and retrieval in the Filecoin protocol are directly related to the excavation mechanism of the entire system. Filecoin construction is to adapt to a decentralized, verifiable market structure. It has two main components: retrieval the market and store the market. The retrieval market exists under the chain, and the storage market is based on the chain.

Filecoin This protocol is a neural center for operating order books, allocation tables and trading radio systems. The center provides services to the upper and lower parts of the system by sending and receiving order matching and settlement information. Miners and customers can set their own prices for their services and submit orders to the market. Throughout the whole process, the Filecoin network benefits the three major user bases:

Store miners by providing storage and receiving tokens

Search to receive the tokens by providing data

Customers who pay and retrieve data

Filecoin distribution and storage

Filecoin builds a highly complex cloud -based data storage and retrieval solution. The balance between the Filecoin protocol in the data storage market (through data retrieval and storage) is very important for ensuring transparency and peaceful access. At the same time, the agreement provides users with receiving, and the supplier -based computing power and the active storage space of the miner FIL tokens.

Filecoin's 5 great benefits

In this section, you will better understand the use of Filecoin in order to provide a better understanding and introduce every benefit in detail.

1. Create storage space

Filecoin provides one of the characteristics of storage space. Filecoin is unlimited. Anyone can join Filecoin. Filecoin remittance to the Internet to save their information. This information is retained on the computer that saves files and has evidence of storage time. This is done by adding timestamps during the file storage.

Filecoin allows users to store and get compensation to preserve people's information. This means that the number of storage and pricing is not controlled by a single entity. Filecoin supports users to seek cooperation in the open market to retrieve and save data. Filecoin uses the storage space to save Filecoin transactions. It also has an authentication record from the storage miners responsible for data.

Filecoin offers ultra -low cost blockchain. Filecoin allows users to choose their balance in redundancy, cost and other aspects. In addition, it allows verification to verify the data of each storage and builds more negotiating space with any miners on the blockchain. Creating a storage space is a necessary FileCoin's characteristics that is different from other coins.

2. Storage durability and safety

Filecoin has provided acceptable reasons for accessibility over time. Filecoin data storage is usually paid; therefore, there is no omissions. Therefore, users save files on the computer to ensure good Internet bandwidth, security and reliability.

3. Open source code

Filecoin provides collaboration and storage among customers on open source code. This means that storage suppliers do not need to establish their infrastructure applications. Instead, it provides this function and corresponding enhancement function.

4. Storage verification

Filecoin verification storage. It has a good way to browse the historical records and cross -checking the storage structure of the file. It will cross -check and store over time to ensure that everything is ready. This specification stipulates that all storage providers provide the latest documents 24 hours a day.

After knowing this, users can view historical records and see if suppliers have stored their data correctly.

5. NFT storage provider

The Filecoin command can retain irreplaceable digital assets. Evidence of irreplaceable digital assets is the evidence of ownership. The storage capacity of digital art and videos is limited. Therefore, as a better choice, Filecoin's actual asset storage network.

It saves tangible assets, while art buyers accept and exchange ownership certificates. NFT's most important exchange OPENSEA.IO uses the Filecoin network to prove its storage capacity and durability. Filecoin handles the network and reliable file storage of storage transactions.

Value model

Filecoin provides a highly adaptive data storage solution for individuals and organizations, and the price is much lower than the services of mature industry competitors. Filecoin, users can access and choose a more flexible service plan so that they can pay exact storage space to reflect their demand FIL costs. In addition, through the Filecoin network, users can access and use data more easily.

Token economics

Filecoin raised amazing funds during this period from August 1, 2017 to September 7, 2017, and raised $ 257 million in 2017. Its initial financing target is $ 40 million, and the initial token price is $ 5. This tokens performed well and turned over to reach $ 10.67. If you buy in 5 places, the return on investment is 113%. In the next section, we will discuss pricing.

Filecoin token circulation was about US $ 212.7 billion, with a market value of 1.7 billion US dollars.

FIL economics

Future data storage

Filecoin (FIL) provides motivation for the core data storage and data retrieval market of the project as a Filecoin's native asset of the blockchain. In order to produce the best storage and retrieval of miners and provide customers with honest services, the blockchain contains economic incentives and inhibitory factors. The upper limit of the FIL supply is 2 billion, and it will be distributed through block rewards in the next few decades.

Filecoin token distribution mechanism

70% are rewarded to Filecoin miners and mining blocks to provide data storage services, maintain blockchain, distribute data, and operate contracts.

15% of the agreement laboratory, creation distribution, 6 years of linear belonging, used for research, engineering, deployment, business development, marketing, distribution, etc.

10% are distributed to investors, and linear ownership of 6 months to 3 years is used to fund network development, business development, partnerships, support, etc.

5% of the Filecoin Foundation, created by the creation, 6 years of linear belonging, for long -term network governance, partner support, academic funding, public engineering, community construction, etc.

How much can I make data from Filecoin?

Filecoin's 24 -hour rolling reward currently stored on the Internet is about 0.25fil/TB, or $ 16.25/TB.

The above content explains the profit space of Filecoin mining and providing storage hardware, how much money can bring us. The profit of Filecoin mining is more impressive than other cryptocurrencies. Of course, the price of Filecoin has fluctuated as the market environment changes.