Giving miners a “credit score”? Exploring the quality indicators and reputation of Filecoin miners

The mission of the Filecoin network is to build a powerful and active distributed cloud storage network to lay a solid foundation for the information of human society. Today, it has been nearly three months since the launch of the Filecoin mainnet, and the effective computing power of the Filecoin network has reached 1.86EB. The security performance, storage capacity, and service quality of the Filecoin network have been verified. The next focus of the Filecoin network is to move towards effective data storage and commercial use.

In order to promote the Filecoin network to store effective data faster and attract customers with real storage needs to enter the network, Filecoin officials have also launched the Filecoin Discover project and the Fil-plus project.

We are in an era of big data, and the commercialization of the Filecoin network is inevitable. As miners, we need to think about a question, that is, when a customer with real storage needs enters the Filecoin network, which miner will this customer choose to store his valuable data? Does the Filecoin network have a "rating mechanism" for miners? Next, let's talk about the quality indicators and reputation of the Filecoin network.

We can see the picture below, which was created by Danilo, one of the blockchain science researchers. This picture shows the various indicators in the Filecoin network. On the left are Filecoin users, on the right are miner attributes, and the blue icon in the middle is the indicator used for measurement.

The Filecoin network already has certain financial attributes, so the roles of the Filecoin network are beginning to increase, such as:

• Miners: Miners develop strategies to increase return on investment through transaction capacity growth

• Storage Clients: Storage clients decide which miners to trade with conditional on uptime

• Borrower: Insurance companies decide which miners to insure based on storage capacity volatility

• Lender: Lenders in the Filecoin network determine the loan amount based on the transaction verification status.

• Underwriters: Decide which loans to underwrite based on distribution

The Filecoin network has a growing base of miners (suppliers, computing power providers). For miners, it is important to have a "high reputation score", which determines whether customers will choose you when they have needs and choose miners. For miners and for the Filecoin network, the main criterion is which miners storage customers are willing to cooperate with and how much they are willing to pay for these miners?

The credit score of the Filecoin network will change over time. The importance of credit scores varies in different scenarios. For example, Alice is a miner and Bob is a customer. If Bob stores a large amount of data, then Bob may be concerned about storage. If Bob stores a small amount of data but uses it frequently, then Bob may be more concerned about retrieval time, the possibility of transaction termination (the customer wants to terminate the transaction himself), and running time.

If customers weight the indicators they care about, then we can see a set of mixed reputation indicators that are not unified; so, in the minds of customers, how many points this miner has is more like a subjective interaction.

The credit score of miners is multifaceted. After all, the Filecoin network not only stores a large amount of data, but also generates a large amount of data. There are more and more roles in the Filecoin network. Miners, customers, algorithm resource optimization, reputation service providers, etc. jointly build the Filecoin network.