Session 1: INTRO Questions
Q1: can you explain a little bit about Filecash and what makes it different from another Project?
Alright. Filecash is the first pre-fork project of Filecoin. It is an incentivization layer of the IPFS protocol, setting the goal of building the Web 3.0 basic storage engine, to make it the world’s leading distributed cloud storage platform.
The core logic behind Filecash is to reduce the threshold of ecosystem participation through a series of technical optimization schemes and economic model improvements, to make the global idle storage resources participate in Filecash consensus, to reduce computing resource consumption, and to reduce sealing and storage costs, and form a close relationship between developers, miners, and communities.
The meaning of “pre-fork”: Filecash was forking from Filecoin before Filecoin’s mainnet launched, so we call this fork a “pre-fork”.
If we say Filecoin is a more corporate-like operated cloud storage service, Filecash is a decentralized, algorithm managed blockchain project. Filecash doesn’t have human interfered KYC, and completely proceeds with verifications via algorithm. Filecash also doesn’t have officially defined “verified data”. As long as the customers have paid money to try to save data on the Filecash network, the data is valid data.
Currently, Filecash’s core changes to Filecoin technology and governance are as follows:
1. The Sha256 algorithm of the Precommit 1 part is changed to sha512. This change made both AMD chip miner machines and Intel chip miner machines can mine Filecash, while Filecoin only supports AMD chip miner machines.
2. Change the sealing layers from 11 layers to 5~8 layers. To mine Filecoin, the 11 layers sealing procedure takes a lot of miner machine’s resources and network bandwidth resources, so Filecoin’s TPS is very low and this also caused the recent super-high Gas fee crisis. Filecash reduced the sealing layers to less than 8 layers to enhance the TPS and release more resources for the storage task.
3. 32G sector is changed to 16G sector. Filecoin’s sector size is 32G, which means to seal a sector in the Filecoin project, the machine needs higher memory storage and system resources, while Filecash’s sector size is only 16G, so Filecash miners need less system resources to finish one sector’s sealing. When the client only needs to store a small size file, Filecash’s cost will be lower than Filecoin’s.
4. Filecash removed human interfered KYC and the “verified data”. Filecoin’s KYC and its “verified data” caused many arguments and disagreements in the Community, and Filecash removed both of them, to make sure that in the Filecash network, all the data paid by clients to store in the network is valid data.
Q2: Can you please provide some information about your Roadmap and how is Filecash progressing so far?
Filecash’s current key goal is to expand the mining nodes to more countries, and also expand the miners’ coverage to more countries. The more global nodes appear, and the more worldwide miners come and mine Filecash, the more total network power we can see, then the new features development would be accelerated.
In the other hand, we’ve been observing Filecash’s original chain — Filecoin’s development in the whole 2021. Filecoin has achieved a big amount of total network power already, but their arrangement to expand and boost the ecosystem with various applications and related development, are moving very slowly. While Filecoin had declared the collaboration with NFT projects to store the NFT data on Filecoin network we hardly see Filecoin’s decentralized storage network is used for any massive data-transaction related applications yet.
That’s why when we plan Filecash’s Roadmap 2022, we make the realistic plan — expand the global nodes, and the total network power firstly. The world is still not familiar and ready to massively use IPFS protocol’s decentralized storage network system yet.
Q3: Can you tell us about your token metrics and what incentives are available to investors when buying $FIC tokens?
Filecash’s FIC token distribution: the total amount of FIC distribution is 2 billion: Miners mining part 55% (Linearly halved in 6 years), Layer2 incentive related part 30%, investors 10%, foundation 2.5% (6 years of linear release), development team 2.5%.
To initiate the Filecash mining, the miner should deposit certain amount of FIC token as collateral, during the mining period, if the miner fails to upload messages in time, or if the miner lost the customer’s data by mistake, the system will deduct the certain FIC token from the collateral FIC as punishment. When the miner does everything greatly, the miner will get FIC token as reward for the mining.
Filecash’s token is FIC, and it is listed on these exchanges already: Hotbit.io, Gate.io, MEXC and some other exchange apps. We will see FIC in more exchanges in the future. You can buy and sell FIC in those exchanges, and also keep your FIC in these exchanges’ wallets.
Q4: A lot of projects are always talking about their strengths, while their token or coin prices are always going down. As one of the leaders of Filecash, would you dare say the difficulties that Filecash is facing and how long it will take to overcome it?
The biggest difficulty and challenge that Filecash had ever confronted, was the new regulation on September 24th 2021 in The People’s Republic of China, it caused a dramatic price drop and had many investors got confused about our project.
On September 24th, 2021, Chinese government announced the strongest and total ban on Crypto to completely ban Chinese citizens to handle Crypto currencies. Filecash project has officially ended the marketing and promotions in China since September 24th 2021 as well. In this situation, many Chinese crypto investors are busy to sell their crypto currencies and empty their wallet on the exchange apps, so FIC price has been affected by Chinese market’s this trend and now we are seeing the price experiences turbulence.
To overcome this unexpected, vicious risks, we’ve set up the new plan:
There will be non-China Filecash nodes appearing more and more in the short future, so more miners from different countries will join and mine Filecash, this will also attract more countries’ crypto investors to come and buy FIC tokens. We expect to see FIC token price’s strong bounce-back when Filecash global community expands to more countries. In one word, Filecash is getting out of China-shock, and looking forward to a strong bounce-back.
Recently, we noticed that there is some mining company that sells FIC cloud mining product in South Korea, and also introduce Filecash project to more South Koreans. We expect to see Filecash’s first-ever new mining node from South Korea will appear on our worldwide node map soon. In the other hand, we are on the way to seek the opportunity to list FIC token to South Korea’s top-tier exchanges.
Q5: Can you tell us if $FIC has been audited? as we know, smart contacts are very vulnerable to attack and to do check cost a lot of money. So, can you tell us a little bit about that, because investors need to know?
Filecash project has been audited for the technical security by the 3rd party. This is the essential step to plan a FIC token’s listing on the bigger exchanges.
Filecash itself is an independent public chain, it rewards the miners effort by the project’s token — FIC, and the miners and coin traders can trade and keep their FIC assets in various exchanges apps.
Currently we don’t have plan to launch the DeFi smart contract related application’s launching in the short future, so you don’t have the dangers that you would confront when you handle the DeFi smart contracts.
Session 2: Twitter Questions
Q1: @WilliamKante44: Partnerships are very important for any platform to build up from zero level to success. So, does “Filecashglobal” have strong partners to support for withstanding against huge competition in crypto market?
We do. We have a mining company in South Korea to help our project to introduce Filecash to South Koreans, and also make more and more miners to get to know this project. We expect to see two or more new mining nodes are coming from South Korea, and this will be Filecash’s huge milestone of its global expansion. We plan to do the powerful global marketing when our South Korean mining node comes.
Q2: @anikaakter11221: How do you plan to spread awareness about your project in different countries where English is not good? Do you have local communities like Vietnam, Indonesia, Thailand, Korea, so they can better understand your project?
Until now, we’ve had the dual lingual AMAs in Arabic, Vietnamese languages, and we see more and more Middle East and Vietnamese new fans come join our community and start to trade FIC token on MEXC and Hotbit exchanges.
We will continue to hold AMAs in Korean, Japanese, Arabic, Vietnamese, and also Turkish, Spanish. Please stay tuned on our official Twitter for the upcoming new AMAs.
Q3: @shamimahmed127: Do you have a telegram channel, Twitter or YouTube channel to promote your project and know the details of your project? Can we learn anything there? can you share this link?
We have 3 telegram channels in English, Korean and Mandarin. Our English channel is the global main channel, you can come join us: https://t.me/FilecashGlobal
Our Twitter is the best way to keep you updated with Filecash： https://twitter.com/filecashglobal
If you are interested in mining, you can also come join our Discord channel: https://discord.gg/Mgb6zkHPKe
Q4: @jlalahm38664776: Explain your plans on global expansion, is it only market you are focusing All the time,And you focus on building or developing and getting customers and users, or partnerships?
Our key targets of global expansion, are the countries that Filecoin has built success, including South Korea, Japan, Singapore, Germany, UK, Canada, USA. In the other hand, Middle East and Southeastern Asian countries like Vietnam, Philippines, Malaysia are the hot place for the crypto traders, so they are also our key targets.
Q5: @AlMomin13556412: Almost 3/4 of investors are focused purely on the price of token in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term?
Filecash’s FIC token price is changing from time to time. You can simply and easily trade FIC tokens on MEXC.com, Hotbit.io exchanges. Our South Korean mining nodes are coming, and we see more and more crypto traders are buying and keeping FIC tokens in their wallets in the recent weeks. So you can keep checking our Twitter for the project’s upcoming news, to estimate FIC token’s price trend, and make your own decision for the trade and investment.