As a three-year-old block chain masterpiece, Filecoin officially completed the mainnet launch on October 15th this year, and it also ushered in the highlight moment of the first stage. Of course, the official launch of the Filecoin mainnet is only a fragment of his great journey, and it is still a long way from its ultimate goal of “a distributed network that stores important information for all human society”. So, what exactly is the “cheating” economic model that all IPFS mining machine manufacturers are scrambling to complain about? How will this economic model help Filecoin’s future value?
Filecoin economic model
Compared with the economic models of well-known public chains such as Bitcoin and Ethereum, the economic model of the Filecoin network is most special in that it introduces two mechanisms, “pre-mortgage” and “180-antenna release”. In other words, if miners in the Filecoin network want to obtain FIL tokens through mining, they need to deposit a certain amount of FIL tokens to the official wallet address before the official mining, and then they can mine; The mining income obtained will not be released until 180 days.
The specific amount of pre-mortgage is like this. According to Filecoin’s official regulations, every miner node encapsulates 1 sector (32GB), it needs 0.19 FIL tokens as pre-stake (the current FIL pledge amount is rising slightly every day); and every package 1T of storage space (1024GB) ), it requires 6.08 FIL pre-mortgage and the period is 540 days, which can be regarded as very long compared with the life cycle of various blockchain projects on the market.
In addition to pre-mortgage, the payback period of FIL mining is relatively long. According to the current data of major browsers, the average output of FIL tokens on the entire network is 0.21/T/day, of which only 25% are released immediately, and the remaining 75% are divided into 180 antennas. . That is to say, the average value of the current mining single T daily coin production after deducting the custody fees and various fees is below 0.02 FIL tokens (1475 single T daily coin production is higher than 0.02, which is already very good ) .
This input-output ratio is obviously not a satisfactory result for speculators in the blockchain industry. It is no wonder that the major mining machine manufacturers complain.
Filecoin’s future value
So for the majority of investors, does the Filecoin project under this economic model have no investment value? Will it go the way of EOS? This is not the case. On the contrary, the official setting of this economic model is based on the long-term value of the Filecoin network .
The future value of Filecoin comes from official rigor and ingenuity. Filecoin conducted the only round of private placement in 2017. Three years have passed so far. The nearly harsh pledge strategy and release mechanism are also designed to shut out short-term speculators. After all, if the current market price is too high or fluctuates Too big, which is definitely not a good thing for Filecoin, a new project. Moreover, if the transaction restrictions are completely released, it will also cause the erosion of capital to profit, which will seriously affect the forward speed and future value of the Filecoin network, and ultimately cause the expected time node to be delayed or impossible to achieve.
The true value of the Filecoin network, at its core is “reliable, efficient, and affordable data storage”, which is the real reason why it is so popular in the market. Therefore, if the mining threshold is removed in the early stage of the network, it will only overdraft the project’s own expected value and future potential, and the development path will become extremely rugged. Taking Bitcoin as an example, the market price of BTC has gone from no one to hundreds of thousands per coin, and it has been nearly ten years; in the first few years, its price was also extremely low, “50 BTC for one “Pizza” is the most authentic portrayal of this period.
Therefore, the value consensus of all mainstream projects is continuously revealed in the constant subtleties.
Conclusion
For the current Filecoin economic model, we should understand it with a more forgiving mind . After all, the official really wants to store data in a real way. This is a continuous and great undertaking, and it is also a low-risk long-termist. game.
This kind of economic model setting must have a strong pain for those speculators who are concerned about short-term prices; for long-term investors who are optimistic about the project, the impact will not be great, especially mining itself is a long-term As time accumulates, investors of mining machines will be less affected .
For all mining machine investors, when the future value of the Filecoin project is verified in three to five years, we should sincerely thank the official team. Because Filecoin has built a large enough wealth market for us, so that we can obtain a very valuable wealth return!
