Filecoin is a decentralized storage network, just like the Google Drive, DropBox, and Amazon AWS cloud drives we commonly use.
Users can store data on the Internet, but the difference is that companies such as Google and Amazon store user data on their own servers. When users upload data to the cloud, the company owns the user data.
Filecoin uses the Interplanetary File System (IPFS) and the open, transparent and permissionless nature of blockchain to allow anyone to rent and purchase storage space. Data can be split and stored by different Filecoin miners, thus avoiding the risk of data damage or loss caused by relying on a single company.
If the NFT project party stores the files in a centralized cloud service, it means that they have the right to modify and delete the files, and decentralized services can prevent this from happening.
NFT project parties can use the storage system of the Filecoin network. Whether it is image or audio NFT, the information can be decentralized and permanently stored in the blockchain rather than in the cloud space of a single centralized organization, making holders more secure about the ownership of digital assets.
Binance will support Filecoin (FIL) network upgrade and hard fork
On December 12, according to the official announcement, Binance will support the Filecoin (FIL) network upgrade and hard fork. The specific arrangements are as follows: the project party will perform network upgrades and hard forks at Epoch 3,469,380 (estimated at 21:30, December 12, 2023, Eastern Time Zone 8); Binance is expected to suspend the token recharge and withdrawal services of the above network at 20:30, December 12, 2023, Eastern Time Zone 8.
First, let’s talk about what a fork is. Forks can be divided into soft forks and hard forks.
In fact, there have been many explanations about forks and soft/hard forks on the Internet. I will explain them in plain language here.
The bifurcation is like a family split in our lives. This family has an old man who leads the family to glory. However, as time goes by, the old man will get old. After the old man is old, who will continue to lead the family to glory? This is the choice facing this family.
Then the whole family's plan is to elect a new head of the family to lead the family to continue to be glorious. After the new head of the family takes over, he will continue to follow the policy originally formulated by the old man, but will only adjust and modify some minor details, which will not affect the overall policy strategy. It can be said that the policy of the new head of the family is compatible with the policy of the old man and some of his own ideas. Such an operation is called a soft fork in the blockchain fork.
However, not everything goes as one wishes. Maybe there is a stubborn descendant in the family who is dissatisfied with the old man's policy. He thinks that the old man's policy can no longer lead the family to glory. He wants to implement another set of policies, which will inevitably overrule the old man's policy. Then there may not be so many people in the family who follow this stubborn descendant. However, this stubborn descendant insists on doing so and even establishes a family of his own. Such an operation is called a hard fork in the blockchain fork.
I think everyone can understand this example.
Now that we have talked about forks, let’s move on to filecoin forks.
At the World Mining Conference (Xiamen Station), Han Shiping, chairman of MIX Group, also listed the "seven sins" of filecoin.
1. File hash value calculation is not friendly to Intel storage instruction set;
2. The sealing process is complicated and consumes too much computing resources;
3. Low TPS limits the number of network nodes;
4. The pre-mortgage is too high, which is beneficial to investors but not to miners;
5. The official data set restricts the use of storage networks, and data security is not high;
6. Frequent major technical changes;
7. The blockchain economic model is unreasonable.
The "seven sins" listed here can be seen as the seven reasons why he announced the fork of filecoin.
From these seven reasons, it is not difficult to see that these reasons seem to be for the benefit of K workers. Especially the fourth point: the pre-mortgage is too high, which is beneficial to investors but not to K workers. This is definitely a "benefit" for the majority of hard-working K workers!
However, after thinking about it carefully, I feel something is wrong. Since filecoin is not good for K workers, why did they brainwash these K workers to buy K machines in the first place? Now that the filecoin K mining economic model has come out, it is said to be not good for K workers? To be honest, if I were a newbie who just entered the industry, I would really be moved to tears by this reason. It turns out that there are people who consider our interests. However, after all, we are not the naive people we were at the beginning.
Let me ask: since filecoin is not friendly to K workers and is not conducive to K workers, why were there so many advertisements for selling K machines in the first place?
Moreover, according to reliable sources, filecoin promoter Du Jun also supports filecoin fork.
Since it is for the benefit of K workers, why do so many teams want to fork filecoin?
I believe that if you understand this point, you will know whether these people are thinking about you, the hard-working K-workers who bought the K-machines, or about themselves.
In the previous article about the economic model, I said that according to the current economic model, how many K machines on the market can participate in filecoin mining? Less than 10%.
So, this is the fundamental reason why they forked filecoin.
Also, please note that their forks are all hard forks, that is, after the fork, what you mine is not the FIL coin of filecoin, but may be FILl coin, FILLL coin, etc. There will be countless such coins on the market.
Although you cannot mine the authentic filecoin, the forked filecoin is still filecoin! Every K merchant can fork filecoin to their K machine model.
So, think about it carefully, is it scary?
It turns out that smart brains are used to find loopholes like this. That’s all I have to say. Please take care, hard-working filecoin miners.
