What is Filecoin coin? What is the difference between Ethereum and Bitcoin?
IPFS:
IPFS is a distributed file storage protocol. It can make stored files more secure, download faster, and lower storage costs. What's more powerful is that it uses blockchain technology, which can be traced back to the source and stored forever.
Because Fileocin's data is stored by miners. The departure of any miner will cause loss of data, so the development team proposed a "pledge" mechanism, which requires absenteeism to "pledge part of the money in advance" as a security deposit. The so-called incentive mechanism of the ipfs project gave birth to the "filecoin" coin, which is the collective name of the ipfs project token.
As a new star in the currency circle, the Filecoin mainnet has also entered the mainstream stage, and the price of Filecoin after its launch has also become the most concerned issue of people at present. Compared with Bitcoin and Ethereum, can Filecoin break the deadlock of technological innovation, lead the blockchain to the 3.0 era, and become the next miracle in the currency circle? Today, we will make a comparison between Filecoin and Bitcoin and Ethereum. Through the comparison of the three, we can take a look at the potential of Filecoin coin.
1.The three mechanisms are different
The consensus mechanism of BTC is the PoW (Proof of Work) mechanism. The PoW mechanism generates blocks through a computing power competition. The advantage of PoW is that it is reliable and widely used. It is a public chain consensus algorithm that has undergone sufficient practical testing. But its shortcomings are also more obvious: it consumes too much extra computing power, consumes a lot of energy, and is not environmentally friendly.
ETH currently uses the "PoW+PoS" consensus mechanism, and is currently developing towards pure PoS, but the progress is relatively slow.
Filecoin's consensus mechanism is expected consensus, and the main proof mechanism inside is the proof of time (PoSt) mechanism, which is called Proof-of-Spacetime, which is (storage) proof of space and time. On the basis of Proof-of-Stake (Proof-of-Stake), Filecoin's improved consensus mechanism has become PoSt, which replaces the proof-of-work PoW.
2.The working principle of the mining machine is different
The essence of BTC/ETH mining machine is a data computing device. Regardless of the initial CPU mining, GPU mining, or later FPGA mining, ASIC mining, large-scale cluster mining, the essence is to concentrate on improving the data computing power of mining equipment mining.
The essence of IPFS mining machine is a data storage device, and its main purpose is storage.
Neither high computing power nor high performance of the CPU is required, as long as the memory capacity is suitable. Only need large-capacity storage space and data storage I/O performance and bandwidth channels need to be as high as possible.
3.The issuance mechanism is different
There are no restrictions on Ethereum issuance. And Filecoin is a total of 2 billion issued. And in the future use process, there will be part of the destruction. That is to say, Filecoin will only be less in the future. So when you participate in Filecoin mining, you must seize the opportunity.
The above is the difference between Filecoin and Bitcoin and Ethereum. Just look at the above comparison. Whether it is the underlying mechanism, technical support, national policy, market environment, and timing, Filecoin's price or market value can crush Ethereum.
Nowadays, more and more people accept cryptocurrency, which also indicates that the future prospect of cryptocurrency is huge.
IPFS have been successfully applied in fields such as data storage, file transfer, online video, social media, and decentralized transactions.
