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https://www.filminer.co/

Do you already know a platform that enables users with computers to store files and get paid? If you've read our post on what is Filecoin, you know what we're talking about. If you haven't already, we'll briefly summarize what Filecoin is, how its platform works, and how to mine FIL tokens.

Ⅰ. What is Filecoin?

Created by Protocol Labs, Filecoin is a decentralized storage network that aims to transform cloud storage into an algorithmic marketplace. This is a very novel and useful platform because it allows users to store files, turn their computer into a kind of database, and let them earn tokens as a reward. If you want to buy filecoin token, FILMINER would be a great platform for you.

The FIlecoin network is inspired by Web3, an advanced software development architecture that eliminates centralization. Filecoin can also provide file storage services for other decentralized platforms, and realize transaction interaction with other blockchain platforms to promote interoperability.

Filecoin is complemented by IPFS, IPFS Filecoin mining is a protocol for storing and sharing data on a distributed network. That is, all Filecoin nodes are IPFS nodes and can use libp2p to connect to other IPFS nodes and get data in IPLD format from other IPFS nodes.

Both systems are free, open source and share many components.

Ⅱ. How does Filecoin work

The Filecoin ecosystem consists of 3 types of entities:

1. Customers: Users who pay to store files through storage miners. Users can negotiate storage with any miner on the network, choosing cost, redundancy, and speed by choosing the miner whose storage product best suits their needs.

2. Storage miners: Storage miners are computers responsible for storing files, and in return, they are rewarded with Filecoin's native token FIL. Miners receive their payments only when the network can verify that their services are being provided correctly.

3. Recovery miners: Recovery miners ensure data is restored to the network. In other words, they are responsible for providing the data requested by the user. Unlike storage miners, they are not obligated to commit to storing data or provide proof of storage.
The Filecoin network runs the protocol between clients and storage "contract" miners.

When a client chooses a specific miner to store its files based on its capacity, duration, and price, it freezes enough funds in the associated wallet to cover the total cost of the contract. After miners accept the transaction, the storage protocol is released.

The client then prepares the data for storage and transmits it to the miner. In turn, miners pack the data into a sector, seal it and start sending proofs to the chain. Once the first confirmation is received, the client is confident that the data has been stored correctly and the transaction has officially started. During a transaction, miners send successive proofs to the chain. Miners are penalized if proofs are lost or delayed.

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