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About Filecoin(FIL)
Filecoin mining is not GPU mining as POW workloads prove. Filecoin mining is based on storage consensus, the more data Filecoin miners store, the more storage capacity the miners have. This peer-to-peer network has built-in economic incentives to ensure files are stored reliably over time.
In Filecoin, users pay to store their files on storage miners. Storage miners are the computers responsible for storing files and proving that they are storing them correctly over time. Anyone who wants to store files or get paid for storing other users' files can join Filecoin. Available storage and the price of that storage are not controlled by any single company. Instead, Filecoin facilitates an open market for storing and retrieving files that anyone can participate in.
Filecoin includes blockchain and native cryptocurrency (FIL). Storage miners earn FIL units by storing files. Filecoin's blockchain records transactions that send and receive FIL, as well as proofs from storage miners that they are properly storing files.
Filecoin FAQ
1. What are the main applications of Filecoin?
Filecoin is a protocol that provides the core primitives that enable a decentralized storage network without trust. These primitives and functions include publicly verifiable cryptographic proofs of storage, crypto-economic mechanisms (opens in new window) and a public blockchain. Filecoin provides these primitives to solve the challenge of creating a decentralized storage network without trust.
2. If retrieving data from the Filecoin network costs money, how can we visit a website or app for free?
Most websites and apps make money by displaying ads. This type of revenue model can be replaced by a Filecoin incentivized retrieval setup where users can pay a small amount of FIL for any file they want to download. Several large datasets are hosted via Amazon's pay-per-download S3 bucket, and Filecoin retrieval can also replace them and be easily improved.
3. How does Filecoin attract developers to use Filecoin for storage?
This will make a huge shift in how we view the internet, at the same time, it's also an exciting shift, showing that things are slowly developing in that direction. Browser vendors like Brave, Opera, and Firefox are investing in decentralized infrastructure. We believe that the Internet must return to its decentralized roots to be resilient, robust and efficient enough to meet the challenges of the coming decades. The early developers in the Filecoin ecosystem are those who believe in the same vision and potential of the internet, and we are excited to partner with them to build it. Want to learn more about Filecoin? The latest Filecoin news are collected for you on Fil Miner.
4. Why does Filecoin mining work best on AMD?
Currently, Filecoin's Proof of Replication (PoRep) prefers to run on AMD processors. You can look through Filecoin Seal Instructions for more information. To be more precise, it runs much slower on Intel CPUs. It runs very fast on some ARM processors, such as those found in newer Samsung phones, but they lack the RAM to seal the larger sector. The main benefit on AMD processors is that they can implement SHA hardware instructions.
5. General hardware requirements
(1) Processors with more than 8 cores.
(2) Use a CPU model that supports Intel's SHA extensions: AMD with Zen microarchitecture, or Intel with IceLake. The lack of SHA extensions can cause significant slowdowns.
(3) At least 128GiB of RAM is required. To complement by 256GiB of swap on NVMeSSD storage media.
(4) Using a powerful GPU can significantly accelerate SNARK calculation.
(5) A slow disk can seriously affect the performance of Miner operations. A minimum amount of 1TiBNVMe-based disk space is recommended for cache storage. This disk should be used to store data during the sealing process, cache Filecoin parameters and serve as a general temporary storage.
(6) Additional hard drives are also required for eventual storage of sealed sectors, Lotus chains, etc.
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