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What this article shares with you is about what the principle of Filecoin mining is. The editor thinks it is very practical, so I share it with you to learn. I hope you can get something after reading this article.

For now, many friends have a general understanding of filecoin, but they are all unilateral introductions. The following editor makes an overview of two issues that friends are more concerned about. One is what is the principle of Filecoin mining? The other is, what are the prospects for Filecoin mining?

Filecoin mining principle:

What is Filecoin? in fact, Filecoin is a distributed storage network based on blockchain mechanism.

Filecoin miners can choose to provide network storage and obtain Filecoin cryptocurrency (FIL) by periodically generating encryption proof that they are providing a specified capacity. Cryptocurrency FIL is an intermediary bridge between resource users (users) and resource providers (miners). The filecoin agreement has two trading markets, data retrieval and data storage, in which both parties submit their own needs and conclude transactions.

For Filecoin mining, you need to know the following:

Mining needs pledge ratio and Gas cost

Linear release-Filecoin's release mechanism can be used to encourage long-term cooperation and encourage all stakeholders to work together to make the Filecoin network more valuable in the future, simply to maintain the stability of the market, all mining incentives are released in this form to encourage long-term network adjustment. Of the same-day mining incentives received by miners, 75% will be released linearly within 180 days, while 25% will be released directly, which can greatly improve the miners' cash flow.

Redundancy-used to repeatedly configure some system data, when the system failure, the redundant configuration data will be accessed and assume the work of the failed components. This can avoid the number of system failures.

Prospect of Filecoin mining

There is no doubt that Filecoin is a leading project in the field of distributed storage. With the continuous development of computer technology, more and more data are produced. According to statistics, the newly generated data is growing geometrically every year. And with the continuous popularization of Internet of things technology and 5G technology in the future, the speed of data production will be accelerated. In 2017, the Filecoin project raised $186 million in an hour, eventually raising a total of $257 million, one of the largest financing in the history of blockchain.

To sum up, Filecoin is in the development stage of the blockchain industry, is an industry that can start with oligarchs, there are a lot of opportunities here. The prospect of Filecoin mining is very promising. So this is a huge opportunity for many friends who are still waiting. The above is an analysis of the principle of Filecoin mining and the prospect of Filecoin mining. If you want to know more, you can contact the editor.

The above is what the Filecoin mining principle is, and the editor believes that there are some knowledge points that we may see or use in our daily work. I hope you can learn more from this article. For more details, please follow the industry information channel.

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