As the effective computing power of the Filecoin network has successfully exceeded 2EiB, discussions about the "Filecoin network baseline" have become more frequent. Some say that the Filecoin network baseline is 2.5EB, some say it is 2.88888888EB, and some say it is 2.5EiB. So, what is the baseline of the Filecoin network, and why do we care so much about the Filecoin network baseline?Filecoin Network Baseline
There are currently two main views on what Filecoin's network baseline is. One is 2.5EiB, and the other is 2.88888888EB. 1EiB=1.024EB, so 2.5EiB is actually 2.56EB. Therefore, if converted into the same unit, the baseline of the Filecoin network is 2.56EB or 2.88888888EB; 2.5EiB or 2.82EiB.
As the Filecoin network breaks through 2EB, there are more and more discussions about the Filecoin network baseline. So, what is the Filecoin network baseline? We saw detailed information about Filecoin’s initial parameters and design principles from the Filecoin official website on a website called “Filecoin Spec”. In the column of network baseline, it is clearly stated that the network baseline is 2.88888888EB . Filecoin toke n Allocation Mechanism We can think of Filecoin as an island economy where participants come together to produce valuable storage goods and services and export them to the world. On the network, people expect to see distinctive storage providers, smart contract systems, lending services, diverse usage scenarios, etc., each of which may become a distinctive business. The overall utility of the network is reflected in the attractiveness of participants to produce goods and services in the network. Therefore, from a certain perspective, Filecoin is more like a functional token that allows token holders to have the right to use the network . Several major roles in the Filecoin network
Not only does Filecoin have an incentive for the IPFS network, but FIL also has a certain incentive for Filecoin. In order to better play the incentive role of the token economy for the Filecoin network, the minting curve of Filecoin is consistent with the overall utility of the network. This means that most of the Filecoin supply will be minted only when the network achieves substantial growth and reaches its utility goals . Therefore, Filecoin also innovatively adopted a hybrid coin minting model. Specifically in terms of token distribution, FIL is mainly divided into mining rewards, FIL_BASE, Filecoin Foundation, and Protocol Labs. Mining rewards 55% . All mining rewards are subject to different forms of unlocking to encourage long-term network adjustments. For example, 75% of the block rewards earned by miners are unlocked linearly within 180 days, while 25% of the rewards are immediately provided to miners to improve miner cash flow and profitability.
Mining reserve 15% . 300 million FIL tokens are reserved to incentivize different types of mining in the future, and it will be up to the community to decide how to unlock these tokens.
Protocol Labs 10.5% . Protocol Labs' 300 million FILs are unlocked linearly over 6 years from the launch of the network. When Protocol Labs encourages ecosystem development through funding with important partners, these grants are usually unlocked within 6 years.
10% of FIL_BASE . Allocated to financing, 7.5% of which were sold in 2017, i.e. SAFT holders, most of the purchased SAFT tokens are unlocked linearly within 3 years, and all FIL received by SAFT holders are subject to 6-month, 1-year, 2-year and 3-year linear lock-up terms, and the remaining 2.5% will be used for ecological development, subsequent financing, and other purposes described in 2017.
- 58% of SAFT tokens unlock linearly over 3 years. - 5% of SAFT tokens unlock linearly over 2 years. - 15% of SAFT tokens unlock linearly over 1 year. - 22% of SAFT tokens unlocked linearly over 6 months Filecoin Foundation 5% . The Filecoin Foundation's 100 million FIL will be unlocked linearly over 6 years from the launch of the network.
PL team & contributors 4.5% . This part is mainly used to allocate to laboratory teams and contributors.
Today, the effective computing power of the Filecoin network has reached 2.278EiB, equivalent to 2.33EB, which is getting closer and closer to the network baseline of 2.88888888EB. More and more FIL is released every day on the entire network. As mentioned earlier, FIL itself is incentive-based. The increase in FIL mining output on the entire network every day is also conducive to incentivizing more miners to join the Filecoin network and jointly prosper the Filecoin ecosystem. |
