What is Filecoin coin? How is it different from Ethereum and Bitcoin?
IPFS is a built-in file storage protocol. It can make stored files more secure, download faster, and store film festivals. What's more powerful is that it uses blockchain technology, which can trace the origin and save it forever.
Because Fileocin's data is stored by miners. The departure of any miner will cause loss of data, so the development team proposed a "pledge" mechanism, which requires absenteeism to "pledge part of the money in advance" as a security deposit. The so-called incentive mechanism of the ipfs project gave birth to the "filecoin" coin, which is the collective name of the ipfs project token.
Compared with Bitcoin and Ethereum, can Filecoin break the deadlock of technological innovation, lead the blockchain to the 3.0 era, and become the next miracle in the currency circle? Today, we compare Filecoin with Bitcoin and Ethereum. Through the comparison of the three, we can see the potential of Filecoin coins.
1. The three mechanisms are different
The consensus mechanism of BTC is the PoW (Proof of Work) mechanism. The PoW mechanism generates blocks through competing computing power. The advantage of PoW is that it is reliable and widely used. It is a public chain consensus algorithm that has been tested in practice. But its shortcomings are also obvious: too much calculation, high power consumption, and not environmentally friendly.
ETH currently adopts the "PoW+PoS" consensus mechanism and is currently developing towards pure PoS, but the progress is relatively slow.
Filecoin's consensus mechanism is expected consensus, and the main proof mechanism is the proof of time (PoSt) mechanism.On the basis of the equity consensus PoS, Filecoin has improved the consensus mechanism to become PoSt, replacing the PoW of PoW.
2. The working principle of the mining machine is different
The essence of BTC/ETH mining machine is a data computing device. Whether it is the initial CPU mining, GPU mining, or later FPGA mining, ASIC mining, large-scale cluster mining, the essence is to concentrate on improving the data computing power of mining equipment.
IPFS miner is essentially a data storage device, and its main purpose is storage.
There is no need for high computing power or high performance of the CPU, as long as the memory capacity is appropriate. Only need large-capacity storage space and data storage I/O performance and bandwidth channels need to be as high as possible. Due to the special requirements of data storage, the mining machine must be placed in a stable, safe, and not easily damaged place.
3. Different issuance mechanism
There are no restrictions on Ethereum issuance. And Filecoin issued a total of 2 billion. And in the future use process, there will be part of the destruction. In other words, Filecoin will only become less and less in the future. So when participating in Filecoin mining, we must seize the opportunity.
The above is the difference between Filecoin, Bitcoin and Ethereum. Just look at the comparison above. Regardless of the underlying mechanism, technical support, national policies, market environment, and timing, the price or market value of Filecoin can crush Ethereum.
Nowadays, more and more people accept cryptocurrency, which also indicates that the future prospect of cryptocurrency is huge.
IPFs have been successfully applied in fields such as data storage, file transfer, online video, social media, and decentralized transactions. At present, including Microsoft, Google, Firefox, Netflix and other traditional Internet giants, as well as Ethernet, Boca, Ontology and other mainstream public chain projects have announced support for IPF or will connect with Filecoin. This also indicates that the potential of filecoin is huge.
