FILH Standard Computing Token: Advantages Compared with Traditional Filecoin Mining

The development trend of the information age has led to the importance of data, and information data has gradually become a very important and valuable resource. As a result, the location and method of data storage have become particularly important, and data transmission and storage have become a huge market. According to an IDC report: 90% of global information data was generated in recent years, which means that the total amount of data on the entire network has grown exponentially.

However, the traditional storage methods under this development pattern still have many shortcomings, such as data security, data over-centralization, etc. Therefore, a new way is needed to improve the market, and the emergence of IPFS creatively addresses the challenges faced by the current industry from two dimensions: technical level and economic system, hoping to build a more secure, convenient, low-cost, and easy-to-expand decentralized storage network.

Recently, CoinW launched the Filecoin Hash snap-up event, so we invited Mr. Fang Shi, co-founder of FILH and partner of CoinW shared mining pool, to come to the online AMA event of Interstellar Vision Web3 Carnival Lab to unveil the carnival charm of FILH for us.

Interstellar Vision I P FSNEWS : Hello, Mr. Fang Shi, please briefly introduce yourself.

Teacher Fang Shi: Hello everyone, I am Fang Shi, a partner of CoinW shared mining pool. I am mainly responsible for the branding of CoinW shared mining pool and I also participated deeply in the early creation of FILH. I entered the blockchain industry in 2017, starting from the mining industry, and have been engaged in mining-related work since then. I have paid close attention to Filecoin since its birth, and it has performed well until now.

Interstellar Vision IPFSNEWS: Please ask Mr. Fang Shi to introduce to the community partners what the CoinW shared mining pool is doing. What do you think of the current status of Filecoin mining and what are the pain points?

Mr. Fang Shi: First, let me introduce the CoinW shared mining pool. What the CoinW shared mining pool does is to allow miners to pledge their computing power to generate standard computing power tokens. The standard computing power tokens represent the output income behind the real computing power. The tokens can be traded on the exchange. Holding the tokens can obtain real mining income. CoinW will distribute income airdrops based on the length of time the user holds the tokens.

Secondly, regarding the current status of Filecoin mining, I think: the mining industry once had a period of wild growth. In the early days, people with a little technical skills could use their own computers to study and mine; even college students could mine altcoins such as LTC, ETH, and HSR every day with their own computers as long as they were willing to study, and it was possible to mine dozens or hundreds of dollars a day.

But now, the entire mining industry is very competitive because of its high profits, especially Fil. Since its birth, it has not given ordinary users the opportunity to enter the mining market, because the threshold for entering Filecoin is a bit high. In order to obtain high returns, the mining machine must be professional. This includes the selection and assembly of hardware, software optimization, network configuration, and professional operation and maintenance; mining also includes: packaging sector Fil mortgage, Gas consumption (floating); professional mining machines need packaging machines and storage machines; and packaging machines require very high-end CPUs and GPUs. The cost of the whole set is at least more than 300,000. So I personally think that Filecoin mining is not very friendly to non-professional users.

Finally, for the current Filecoin mining, it is actually not difficult at present, and it is also very convenient to buy cloud computing power on the market. There may be more partners in the community participating in cloud computing power mining, but because the price ranges from a few hundred 1T to more than 3,000 1T and the filling time is also different, it will affect the order of cloud computing power mining and even cause chaos in the cloud computing power market.

Interstellar Vision IPFSNEWS: Is there still a chance for Filecoin mining now?

Teacher Fang Shi: Of course, there are still opportunities to invest in Filecoin mining. Every new thing has huge opportunities behind it. IPFS & Filecoin have been supported by various huge capitals since their birth. According to relevant data, the transaction volume of Filecoin mining machines has exceeded 100M US dollars. This huge amount of funds means a variety of investment opportunities. Of course, we also need to consider that mining is a heavy asset investment with a long payback period. If you want to sell temporarily or switch to mining, it will take a certain amount of delivery time.

Interstellar Vision IPFSNEWS: What kind of product is FILH? What are its advantages and characteristics compared to Filecoin cloud computing power?

Teacher Fang Shi: FILH is a standard certificate representing 1T of effective mining power. FILH distributes mining income to FILH holders strictly according to the mining efficiency of miner nodes disclosed on the Filcoin blockchain browser, and FILH is obliged to ensure that the mining efficiency is not lower than the market average.

We believe that compared with Filecoin cloud computing power, FILH's advantages are mainly reflected in the following aspects:

1. FILH represents the standard full storage computing power token. When we mine Fil, there are many things to consider, including: hardware selection and assembly, software optimization, network configuration, professional operation and maintenance; mining also includes packaging sector Fil mortgage, Gas consumption (floating); professional mining machines need packaging machines and storage machines; and packaging machines require very high-end CPUs and GPUs. The whole set has a relatively high investment cost.

2. Buy cloud computing power. Compared with FILH, standard full storage computing power is currently the best solution. You don’t need to consider filling time, pledge and other issues, and directly get the highest return.

3. The biggest advantage of FILH is that it is tradable. In the past, when we bought computing power and invested in mining, we could only wait for the return of investment, which was a long period of time. FILH is much better than computing power in terms of return of investment.

Interstellar Vision IPFSNEWS: What are the issuance rules of FILH products, how are the profits settled, and how long is the product validity period?

Teacher Fang Shi: FILH is issued in full accordance with the number of Filecoin standard full storage computing power owned by FILH, and is strictly implemented in a 1:1 ratio. In other words, each FILH means 1T standard full storage computing power; in terms of income settlement: holding FILH, CoinW will take a snapshot of the user's holdings every hour throughout the day, and distribute Fil income according to the time of the user's snapshot holdings; the sustainability of the product time limit: the mortgage period is currently 540 days, but the new regulations after 540 days need to refer to the official settings of Filecoin in the future.

Interstellar Vision IPFSNEWS: How will FILH ensure investors' stable returns?

Teacher Fang Shi: FILH guarantees investors stable returns mainly in the following aspects:

1. The issuance of FILH is entirely based on the amount of Filecoin standard full storage computing power owned by FILH.

2. FILH has no private placement at all. No one will hold FILH at a low price, and there is no phenomenon of anyone dumping the market.

3. The income of FILH is the same as the income generated by 1T of Filecoin computing power.

4. The price of FILH is closely related to Fil. If the price of Fil increases, the price of FILH will inevitably increase as well .

Interstellar Vision IPFSNEWS: What about the future development plan of FILH?

Teacher Fang Shi: FILH's future development plan is mainly divided into three steps:

The first step is to go online on CoinW and open trading, so that high-quality investment targets can enter the trading market as soon as possible for everyone to invest and trade. Before that, we will also release a small amount of low-priced FILH to CoinW's Fansup for everyone to buy

In the second step, FILH will cooperate with more mining pools, mining farms, and miners to bring a highly liquid computing power trading market to the entire Filecoin ecosystem and the Filecoin mining industry. Here, we also welcome Filecoin mining pools, mining farms, and miners to cooperate with us.

In the third step, FILH will reach cooperation with more exchanges and be listed on more exchanges to allow more investors to invest and trade. In addition, FILH will work more rigorously and meticulously with the exchanges to accurately distribute the income of Filecoin standard full storage computing power to each user holding FILH.

【Interstellar Science】

FILH standard computing power is a token pledged by real Filecoin standard full-storage computing power. One FILH computing power coin corresponds to 1T of standard full-storage Filecoin computing power. Holding FILH is equivalent to owning Filecoin's underlying computing power, and you can obtain the corresponding daily income generated by 1T computing power.

(1) One FILH represents a real and effective 1T standard full storage computing power, which can be mined immediately after being sold, and there is no problem of packaging cycle;

(2) FILH standard computing power is perpetual mining, and the mining will end when the output income reaches 0 for 10 consecutive days;

(3) Holding FILH standard computing power coins can earn income based on the holding period.