Filecoin- a blockchain storage network

shyyee (34)in #cyrptocurrency • 5 years ago

What is filecoin? What is IPFS (InterPlanetary File System) ?

Lets talk about this from investment point of view.

I was in an IPFS / Filecoin introduction session yesterday. Together with me was my partner- an certified Blockchain and Cryptocurrency Expert (by Blockchain Council). My experience in blockchain and cryptocurrency is almost 3 years, and still i am in an infant stage. Reason being blockchain development has been growing so drastically and so fast.

In Malaysia, a circular has been announced by the government - a guideline and enforcement on ICO (Initial Coin Offering). However, now worldwide we no longer talking about ICO, now we have already progressed to STO (Security Token Offering) .

Different Token has its uniqueness. Some so called "MINING" is based on different technology or supporting. For example:-

Bitcoin- Proof of Work
WCG- Proof of Stake (Gold)
Steemit- Proof of Work (Blogging)

any many more in different PROOFS.... and as for Filecoin is based on

Proof-of-Replication (PoR) and Proof-of-Spacetime (PoSt).

InterPlanetary File System is a protocol and network designed to create a content-addressable, peer-to-peer method of storing and sharing hypermedia in a distributed file system. IPFS is a peer-to-peer distributed file system that seeks to connect all computing devices with the same system of files. Wikipedia

Yes, everyone would agree that blockchain will overtook the status of centralized operations. Any with BIG DATA, you need a bigger, a more secure space to store the said data. And by far, the largest storage space ive learned is 192TB.

Now, in filecoin, the storage space for each mining node is up to 192TB. how does it work in term of return on investment then? Im talking this in Malaysia context.

Should one invest in a storage space (general term- mining machine) at probably Rm50,000, per day can mine average 6-10 filecoin. Two option when the tenure mature : to decide to continue mining or let the agent buy back the mining machine. Should you choose a 6 months tenure and decided to let agent buy back your machine, the agent shall then buy back your machine with an interest earning 20-22%; however you decided to keep the machine for long term mining, then your yield in long term definitely is higher. Now it is your risk APPETITE. should you bigger appetite, then you can opt for the "keeping option", should your appetite is lower, you can opt for the 6 months tenure. win-win.

Should anyone interested can email me: - [email protected]

Here some info from official website:
A MASSIVE AMOUNT OF STORAGE SITS UNUSED IN DATA CENTERS AND HARD DRIVES AROUND THE WORLD.

EARN FILECOIN FOR HOSTING FILES
Put your unused storage to work by becoming a Filecoin miner. Use the Filecoin mining software to get paid for fulfilling storage requests on the Filecoin market.

EXCHANGE FILECOIN FOR USD, BTC, ETH AND MORE
The Filecoin currency will be traded on a number of exchanges and supported by multiple cryptocurrency wallets, allowing you to easily exchange Filecoin for other currencies like US Dollars, Bitcoin, and Ether.

RELIABLY STORE FILES AT HYPERCOMPETITIVE PRICES
Clients can tune their storage strategy to suit their needs, creating a custom balance between redundancy, speed of retrieval, and cost. The worldwide Filecoin storage and retrieval markets make vendors compete to give you flexible options at the best prices.

THE NEW WHITEPAPER https://filecoin.io/filecoin.pdf

THE NEW FILECOIN WHITEPAPER
We are thrilled to share with you the new Filecoin Whitepaper. This new Whitepaper introduces two new Research breakthroughs in the Distributed Storage Networks (DSN) landscape: Proof-of-Replication (PoR) and Proof-of-Spacetime (PoSt).

View the new Whitepaper

Filecoin- a blockchain storage network

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