How to mine Filecoin?

ipfsfanatic
2 min readOct 18, 2021

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Filecoin mining principle 1. Storage market users contribute their idle hard disk space to become storage miners and get rewards for filecoin. The process of storing files is approximately as follows: a. The user sends a storage demand order, and the system matches the miners and the order. Once the match is successful, the second step is entered. b. The user sends the file to the miner. After receiving the file, the miner puts the file in the database, encrypts it, and puts it on the chain after verification. c. The miner continues to prove that they are working by copying the proof. The amount paid by the client is in installments. In progress, as the blocks are produced, the miners are paid linearly forward. Copy proof is a new type of storage proof that can ensure that the storage of each piece of data is independent, while preventing sybil attacks, generating totals, and external attacks. Provide your storage resources 2. After the retrieval market user requests the file and pays filecoin to the retrieval market, the corresponding fastest miner gets the distribution right of the file. Simply put, miners provide network bandwidth to help users extract what they need. From the perspective of Filecoin’s mining mechanism, this type of mining that requires disk space is very different from Bitcoin mining. btc mining is a reduced market, and one is mined, while Ipfs mining is an incremental market. With the increase in project applications, the project party will upload a large amount of data, and the price of the data market will also rise. IPFS will benefit even more, and the miners will also benefit more. FIL mining does not need to compete with computing power. Filecoin mining competes with storage and bandwidth resources. Unlike storage miners, retrieval miners do not need to provide mortgage tokens, do not need to submit storage data, and do not need to provide storage proofs.

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