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The first anniversary of Filecion's launch！

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What is the value of Filecoin?

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On August 10, 2017, a project raised US$186 million in one hour, and finally raised US$257 million, which is the largest financing in the history of blockchain. In addition, this project has also been favored by many well-known institutions such as Stanford University, Sequoia Capital, YC Venture Incubator, Winklevoss Brothers Foundation, and recognized by the world's top investment banks. Its charm is evident. Yes, this project is IPFS/Filecoin.

What is the value of Filecoin?

Someone once compared it like this: data is life on the blockchain, storage is land and house, code is law, scoring is morality, and computing power is power. If you follow this analogy, then the field in which Filecoin is located is the "blockchain land house", that is to say, Filecoin is the infrastructure of the block chain, the carrier of the "data life" of the block chain, and is designed to solve The issue of privatization of human privacy and property has changed the way the world accesses Internet data. Filecoin technology was born to solve the problem of data storage and transmission. With the help of the Filecoin system, the cost of data storage and transmission is greatly reduced, while the security of data storage is improved. The essence of Filecoin is the sharing economy, which makes more effective use of storage devices and networks for the world, and reduces the cost of data storage and transmission.

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Why is Filecoin worth investing in?

More than 30 years have passed since the development of HTTP. It is technically very mature, but it also has many shortcomings: high data storage costs, increased risk of information leakage, and inefficient centralized storage. In this highly centralized network, with the rise of large network operators, its data storage has become gradually centralized and centralized. At present, several large-scale server vendors operating around the world store most of the network. Data, once these network data suffer from accidents or uncontrollable events, the network operation will be interrupted. Filecoin provides a brand-new solution for the existing storage industry from the underlying architecture, which can play a role in improving data storage security, protecting user privacy, efficient transmission and confirming rights.

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As a leader in the distributed storage track, Filecoin is also the underlying infrastructure of the blockchain industry. It forms a complementary relationship with public chains such as Ethereum and EOS, rather than a competitive relationship. Blockchain is essentially to ensure the security and transparency of data, non-tampering, confirmation of rights, etc., but due to the limitation of block size, it cannot carry huge commercial data, and Filecoin is undoubtedly a big help to promote the commercial implementation of the blockchain industry. .

Therefore, in addition to the traditional cloud storage market in the future, many blockchain ecological applications may be migrated to the Filecoin storage network.

Nothing can be accomplished overnight, all it takes is time. Filecoin is the pioneer who is about to start new development and development, and it is worth looking forward to. If you like this article, remember to like and follow, to learn more about IPFS/Filecion and contact me. My contact information is below .

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The relationship between IPFS and Filecoin

IPFS is a network protocol, and Filecoin is a decentralized storage project based on IPFS. Filecoin is an application under the IPFS protocol, but Filecoin is not the only project that uses the IPFS protocol.

After the computer installs this protocol software, it becomes a node in the IPFS network and contributes its own storage and bandwidth resources for network use, but the contributors cannot get financial returns. Therefore, since the birth of the protocol in 2015, the global development of IPFS has been restricted. 2017 In 2016, the team initiated the Filecoin protocol project, planning to use blockchain technology to build an incentive layer on top of IPFS, and reward node contributors with tokens to attract more people to join and expand the IPFS network .

Team and project background:

Filecoin is headquartered in San Francisco, USA. The founder Juan Benet graduated from Stanford University. In 2015, he participated in the famous YCombinator project and successfully founded the Protocol Lab. Filecoin's private placement in 2017 also received the support of many big players in the investment field, including Sequoia Capital and the well-known Silicon Valley venture capital Union Square Ventures, and other investors include Winklevoss Capital, Digital Currency Groupm, and startup incubator Y Combinator President Sam Altman.

What does Filecoin contain?

1.blockchain, blockchain Like other blockchain projects, this is the foundation of filecoin, and everything is carried out around block (block) and chain (chain).

2. Trading market Filecoin has two trading markets, a retrieval market and a storage market. Miners and users make transactions in these two markets to achieve value exchange. (The miners who bought our mining machines belong to the storage market)

3. Consensus mechanism There is a problem of who must keep accounts for transactions and blockchains. The same is true for filecoin. One problem that must be solved is the consensus mechanism. Filecoin abandons the consensus mechanism formed by the previous blockchain that is highly dependent on computing resources and energy consumption. Filecoin reuses meaningful work to form a consensus mechanism. This is PFT (power fault tolerance), an evolutionary version of Byzantine fault tolerance. The amount of storage currently used in the network and the generated space-time proofs are transformed into voting weights, and then nodes use this weight to elect one or more leader nodes, and the leader nodes create new blocks and spread them to the network. The block data structure of filecoin adopts the DAG structure.

4. Smart contract Filecoin uses two basic APIs for users to use, data storage put and data acquisition get. On the basis of these two operations, filecoin supports File Contracts, allowing users to have more refined control. Filecoin integrates the contract system and the bridge system, provides the filecoin storage system to other blockchain systems, and allows filecoin to use the functions of other blockchains. Filecoin has developed a bridge tool, which can link different blockchains. This is why so many white papers mention linking with ipfs and blockchains, because filecoin is born with such capabilities.

The application value of Filecoin

Make data storage safer and more convenient. Without centralized data management, data is more secure and difficult to be spied on or copied. The distributed data storage of the whole network reduces the loss and damage of data caused by wars, natural disasters, man-made and other reasons, which is conducive to the permanent preservation of valuable data.

Perfect support for applications in the blockchain field. The essence of blockchain is distributed and decentralized. One of the development bottlenecks is distributed storage capacity. Especially for most of the current basic public chains, how to store a large amount of data on their main chain is Urgent problems. The future distributed application (DAPP) wants to become a super application widely used by the public, and it must also solve the storage problem. Therefore, the distributed storage of IPFS is likely to become the infrastructure of the blockchain industry in the future, which brings us huge room for imagination.

Filecoin may become the infrastructure of all blockchain projects, and EOS has clearly stated that it wants to access IPFS. The last chapter of the Filecoin white paper mentions the "bridging" function, which allows Filecoin to run smart contracts for other blockchain projects, and also allows other blockchains to run Filecoin smart contracts.

3. Reduce storage costs and bandwidth costs. Traditional centralized data storage relies on a large number of IDC computer rooms, and storage resources and bandwidth resources are very expensive. IPFS distributed storage makes full use of the public's storage resources and bandwidth resources, which is similar to the concept of sharing economy, which increases the utilization rate of resources and reduces the cost of use.

The investment value of Filecion digital currency The Filecion project has its own token FIL. Users need to pay FIL to store data. The FIL can be issued to storage resource contributors (miners) to encourage the public to participate in contributing their own storage resources. This greatly increases the number of nodes in the network globally, turning the entire distributed storage network into a huge storage space. With the cooperation of the whole set of mechanisms, IPFS has a stronger development advantage in the competition with HTTP.

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What Is IPFS? What Does It Mean for the Internet?

In 1991, Tim Berners-Lee invented HTTP (Hypertext Transfer Protocol). After 24 years, Juan Bennett led the protocol laboratory to invent IPFS (Hypermedia Transfer Protocol). The original intention of the invention was to solve HTTP/ The existing shortcomings of HTTPS can achieve better and stronger functions. There is no doubt that IPFS, as an underlying technology, is now applicable to all aspects of life in the Internet era. It will serve as the base layer of our new infrastructure, Web3.0 Technology has become a part of the tide of the times, and it can even become the starting point for changing the future.

ipfs is a decentralized distributed storage system. First, you need to understand what decentralized and distributed storage means. Next, I will introduce to you what a decentralized distributed storage system is.

The first is decentralization. What is centralization? I personally understand that centralization is a third party, and decentralization means that this third party is not needed. Let me give you an example. For example, in our lives, if you want to send money to the other party, you need an intermediary such as a bank to send the money. On the other party's account, and decentralization does not require a third-party platform. You can directly transfer money to someone else's account without using third-party software. Simply put, it means skipping the platform and transferring money from peer to peer. For another example, if you deposit your money in the bank, the bank will keep it for you. You need to take it out of the bank card when you want to spend it. If you lose the card, you can only ask the bank to reissue it. That means the bank controls everything about you. This is the center. Decentralization means that everything is under your control. Your money is stored in your own wallet. You only need to remember the password.

The full name of IPFS is Inter Planetary File System. IPFS is a distributed file system used to store and access files, websites, applications and data. The one-sentence description on the official website is: "a point-to-point hypermedia transmission protocol". IPFS supports the creation of fully distributed applications, allowing file data stored on IPFS to be quickly obtained anywhere in the world for us to access Data is faster, safer, and more open at the same time.

When it comes to IPFS, you have to talk about HTTP.

HTTP was a great invention of the Internet 20 years ago. It is no exaggeration to say that without HTTP, there would be no Internet today. At present, almost all Internet information transmission uses the HTTP protocol.

The progress of Internet technology has never stopped, and even has been accelerating. As the Internet becomes larger and larger, the existing HTTP protocol has exposed more and more drawbacks. For example: Because all under the HTTP protocol are centralized storage, once the central server is attacked, the data may be stolen, leaked, or even deleted; news of various servers being hacked is not uncommon, and service providers have to use various expensive Security solutions, the cost of preventing attacks is getting higher and higher; in addition, once the centralized server is accessed centrally, it will cause congestion and cause the access speed to be very slow.

The birth of IPFS perfectly solves the problems of HTTP. IPFS stores data in a distributed manner, which makes hackers lose their attack targets and makes data more secure. IPFS adopts distributed multi-point transmission, which greatly improves the transmission speed of IPFS and saves about 60% of network bandwidth.

In addition to making data safer and faster, IPFS also has a very important point that is that IPFS uses hash deduplication to store data, which will greatly reduce the cost of data storage. This will help IPFS truly defeat the underlying commercial power of HTTP. Safer and faster may not be able to replace the old technology, but if it can reduce the cost at the same time, it will subvert the traditional model more quickly. This is the same as the replacement of traditional mail by e-mail. This is an unstoppable technological development process.

At present, the Opera browser has begun to support the IPFS protocol, which indicates that IPFS has officially entered the application landing stage. This is an important milestone in the development of IPFS. It is undeniable that in the future there will be more and more applications supporting the IPFS protocol until it is completely replaced. Traditional HTTP is just a small step in the beginning.

If you want to know more about the latest information about IPFS, you can comment or exchange private messages.