Editor's Note: This article comes fromHoneycomb Finance News (ID: fengchao-caijing), Author: JX kin, reproduced by Odaily with authorization.
Editor's Note: This article comes from
Honeycomb Finance News (ID: fengchao-caijing)
Honeycomb Finance News (ID: fengchao-caijing)
, Author: JX kin, reproduced by Odaily with authorization.
The Filecoin mainnet, which has been "bounced" many times, will finally be launched. It is estimated that at about 10:45 p.m. on October 15th, Beijing time, this decentralized distributed storage network will officially cut into the mainnet at block height 148888.
Boosted by the positive news, the futures price of the main network asset FIL rose. According to Coingecko data, FIL rose from $25.8 at 15:00 today, and rose to a maximum of $28.96 within 2 hours, an increase of 12%.
The market has released its optimism for the launch of the Filecoin mainnet, but for some miners who maintain the mainnet, they are currently facing the situation of insufficient pledge coins and mining machines may not be able to mine. This is related to the special mining access mechanism of the Filecoin network.
On October 15th, the Fielcoin block browser showed that the effective computing power of the entire network was 566.9PIB, and the amount was 0.17FIL/32GIB. If the computing power of the entire network is normally packaged, 101 million FIL needs to be pledged. Currently, the predictable circulation of FIL in the market is far less than 100 million.
The release of early investors, officials and miners also needs to wait for the mainnet to go live. According to the release rules of FIL, these assets will be unlocked 30 days after Filcoin is launched on the mainnet, with a total of 16.474 million FIL. Due to cycle restrictions, distant water cannot quench near thirst.
On October 14, the Filecoin community initiated the FIP 0004 proposal, proposing that after the mainnet goes live, 25% of the storage miner rewards will be released directly to increase the circulation of FIL and solve the problem of insufficient pledge caused by the scarcity of FIL in the early stage.
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FIL rose 12% in two hours
There are still 10 hours before the mainnet launch, and the fans of Filecoin on Twitter can no longer hold back, "I just want to know the price of FIL, and I want to buy it." Some people inquired about the price expectation of FIL on social networks.
Fans' support for Filecoin's main network was reflected in the market, and Filecoin's main network currency FIL rose by 12% within 2 hours. From 15:00 on October 15th, FIL started to rise at 25.8 US dollars, and as of 17:00, the highest reached 28.96 US dollars, an increase of 12% in two hours, but the intraday decline reached 12.1%, with obvious fluctuations.
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The price trend of FIL on October 15
The optimism of the secondary market is not only reflected in the price trend, some exchanges that have not paid attention to Filecoin before have also announced the listing of FIL. After the launch of the mainnet on October 15, the two exchanges Gemini (Gemini) and Kraken (Knet) registered in the United States will open deposits and withdrawals for FIL and support transactions.
Jeremy Welch, vice president of Kraken products, said in an interview that the reason why Kraken supports FIL transactions after Filecoin confirms that the mainnet is online is because the platform is doing compliance and security reviews for risk reasons. The go-to-market strategy has not diverged, and we have a robust review framework in place to ensure projects can pass in terms of compliance and security.”
Five days ago, two exchanges, OKEx and Huobi, announced that after the Filecoin mainnet goes live, the platform will open the recharge and withdrawal services of FIL. It is worth noting that there are currently many exchanges in the market that have opened FIL futures trading a few months ago. Different exchanges have different redemption periods. The market includes 1 month, 3 months, and 6 months. The FIL redemption contract with a monthly or even 12-month cycle requires the attention of relevant users.
In addition to the secondary market, Filecoin is also promoting the ecological landing of the main storage scene while brewing the main network. On October 9th, Filecoin officially announced that in the Slingshot competition, the Filecoin community stored 170 TiB of data through 200,000 storage transactions on the network within two weeks. Slingshot is a competition for storage clients and developers to encapsulate valuable data to the mainnet, which is contributed by participants in the Slingshot competition.
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Pledge FIL scarce mining machine can not be fully opened
Filecoin's token market and application ecology are showing vitality, but for the main network that is about to be "born", miners are an important force for network operation in the future. However, on the eve of the mainnet launch, some miners reported that there were insufficient pledged coins and it was difficult to start mining. This is related to the special mechanism of Filecoin mining.
According to the design of Filecoin, for every 1T of effective computing power added to the network, 32 FILs need to be pledged initially. On October 15th, the Fielcoin block browser showed that the effective computing power of the entire network was 566.9PIB, and the amount was 0.17FIL/32GIB. If the computing power of the entire network is normally packaged, 101 million FIL needs to be mortgaged, and the current circulation of FIL in the market is far less than 100 million.
According to the current average FIL futures price of $30, this means that miners have to obtain FIL tokens for pledge before starting up and going online for the main network to do their job of sealing data. Purchasing is one of the channels, but it also increases the cost of miners . "The main thing is that there is no detailed release rule yet. I am at a loss as to what the output will be after the mainnet goes live," said a miner.
On October 14, the Filecoin community initiated the FIP 0004 proposal, which involves token release rules. The content includes that 25% of the storage miner rewards will be released directly after the mainnet goes online, and the remaining 75% of the block rewards will be released linearly within 180 days according to the original rules. The purpose is to enhance the circulation of FIL and solve the problems of pledge caused by the scarcity of FIL in the early stage.
The latest proposal from the Filecoin community focuses on adjusting the economic model to meet the needs of miners. This also reflects the bad situation of the miners from the side.
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The cloud computing power platform increases the price for customers, causing controversy
Companies that deployed Filecoin cloud computing power early in the market have also attracted controversy due to the issue of pledged coins.
On October 13, Li Haotian, CEO of Diancun Technology, a cloud computing power service provider, said in a live broadcast that customers need to solve the problem of pledged coins by themselves, and the miners they serve must purchase 350 FIL themselves and submit them to the platform as pledged coins to maintain normal startup.
At present, other cloud computing power service providers have not made such a request, and the practice of this service provider has caused dissatisfaction among some users.
The next day, Diancun Technology’s official WeChat account pointed out that the reason for the “problem of pledged coins” lies in the setting of Filecoin’s economic parameters and insufficient release. Without staking, mining cannot be started normally.
Diancun Technology also explained in its response that Filecoin stores the real data of users and has high requirements for stability. The pledge economic mechanism is designed to prevent miners from shutting down after receiving block rewards, which will affect the security of user data. Based on the data on October 14th, the pledge amount of each sector of the Filecoin network is 0.23FIL/32G. Taking the M9 mining machine of Diancun Technology as an example, the actual committed space that can be submitted is 60TB, and it can be sealed for 90 days at full speed. 60TB, about 682GB needs to be sealed every day, which is equivalent to 21.3 sectors are sealed every day. A total of 4.9 FILs need to be pledged, and a total of 440 FILs need to be pledged within 90 days.
According to Mars Cloud Mining calculations, miners package 331,250 sectors per day at a rate of 10.6PiB/day. According to the current mortgage demand of about 0.4FIL/sector, the entire network needs to mortgage 133,000 FIL every day.
According to the current policy, during the 180-day unlocking period, miners unlock 21,000 FIL on the first day, 30,000 FIL on the 10th day, and 50,000 FIL on the 30th day. The FIP 0004 proposal, which has not yet been passed, will unlock 25% first, which is 1/4 of 173,000 FIL, about 43,250 FIL.
However, the FIL released by the two economic policies cannot meet the demand for pledged coins.
The sector life cycle defined by Filecoin economic parameters is as short as 180 days and as long as 540 days. The pledged currency can be redeemed within 180 days. As of October 15th, Filecoin's entire network computing power is 565.74PIB, and every 32GIB needs to be mortgaged 0.17FIL, which is a decrease compared to 0.23FIL/32GIB calculated by Diancun Technology.
