Easily understand the huge benefits of Filecoin mining

IPFS is a network transfer protocol designed to create persistent and distributed storage and sharing of files.

Compared with HTTP network protocol, IPFS storage is more secure, faster and cheaper. Therefore, it is considered to subvert the existence of traditional Internet and will also be one of the key factors for the future success of the Internet of Things.

Filecoin is the incentive layer of the IPFS protocol. Due to the extraordinary charm of IPFS, many people believe that Filecoin may become a blockchain 3.0 application project with a market value that surpasses Bitcoin in the future.

1) Follow the giants to invest

If you don’t know how to make a choice, just follow the advice of smart people. It’s not necessarily right, but it’s hard to be wrong.

Filecoin raised 257 million U.S. dollars in 30 minutes, breaking the ICO record at the time and becoming No. 1 at the time.

Filecoin has attracted the attention of many established investment institutions.

2) Solid technology

The IPFS team is Protocol Labs, which was founded in May 2014. The core team of Protocol Labs consists of hundreds of talents from world-renowned universities such as Stanford University, MIT, and Harvard, as well as talents from large companies such as Google, IBM, and Oracle.

The project was delayed several times, which angered the speculators. But for a team that is down-to-earth in technology, the key is to constantly debug the underlying technical framework and application logic so that it can be smooth and seamless when finally put into the ecosystem. This is completely different from those noisy marketing projects in China.

3) Reliable applications

A project without any application, or claiming to be the next Taobao or WeChat, prefers to brag to others that the price of its currency will increase many times, but the final result is nothing more than bragging. IPFS is different. So far, more than 30 billion files have been stored in the IPFS distributed file system, and no leak has occurred.

This includes:

• The Canadian government built an Ethereum browser hosted on IPFS;

• The World Wide Web (Historical Archives Museum) uses the IPFS protocol for data storage;

• The Library of Congress uses IPFS distributed storage to permanently preserve historical data;

• IPFS has been used by the German Aerospace Center for telemetry data storage;

• The world's second largest Firefox browser supports the IPFS distributed protocol;

• All files taken from the moon during the U.S. Apollo moon landing program were uploaded and saved using IPFS;

• Other famous ones include the decentralized store OpenBazaar, the Brave browser, the decentralized real-time collaborative editor PeerPad, the decentralized video platform DTube, the decentralized social network Akasha, etc.

Currently, many DAPP development teams based on Ethereum and EOS use IPFS as the storage solution for their projects by default.

4) Huge currency price appreciation imagination

In 2018, the global storage market was 100 billion US dollars, so if divided by the 110 million coins to be issued next year, it will reach 1,000 US dollars per coin; of course, it is impossible to overthrow the traditional Internet's HTTP as soon as it goes online. If calculated based on a 10% market share, it is 100 US dollars per coin; if further considered, not all issued FILs will circulate on the market. After all, good currencies will be hoarded by knowledgeable people, so if 50% of them circulate on the market, then it will be 200 US dollars per coin, equivalent to 1,400 RMB.

According to the optimistic estimate of Oxford Economics, by 2025, the global storage market value will reach 23 trillion US dollars. By then, if HTTP will have entered the history museum, and if the market value of IPFS is 20 trillion US dollars, then the 660 million coins issued by then will be worth nearly 30,000 US dollars each!