IPFS and Filecoin
According to the latest data from Filecoin’s block explorer, Filecoin’s network storage capacity has exceeded 8EiB. Its effective computing power has increased significantly and the price of Fil is basically stable at around $49.
As the official process continues to update, applications developed based on the bottom technology of IPFS are also expanding. People have reached a consensus that IPFS is the most important infrastructure leading to the Web3.0 era. So, is IPFS the same thing as the Filecoin we often say?
在概念上，IPFS（InterPlanetary File System星际文件系统）是一个基于内容寻址的、分布式的、新型超媒体传输协议。它的优势在于其强大的技术积淀、精巧的架构设计及强大的开发者生态。通过整合现有的技术（BitTorrent、DHT、Git、SFS），创建一种点对点的超媒体协议，旨在打造一个更加快速、安全、开放的下一代互联网，实现互联网中永久可用、数据可以永久保存的全球文件储存系统。
Conceptually, IPFS (InterPlanetary File System) is a distributed, new hypermedia transmission protocol based on content addressing. Its advantage lies in its strong technical accumulation, sophisticated architecture design and powerful developer ecology. By integrating existing technologies (BitTorrent, DHT, Git, SFS), a peer-to-peer hypermedia protocol is created. It aims to create a faster, safer, and open next-generation Internet to realize a global file storage system that is permanently available and data can be stored in the Internet.
However, to ensure the availability, integrity and validity of the files in the IPFS network has become a tricky issue. Hence, Filecoin was born under this background.
Filecoin is a blockchain project developed based on IPFS technology. The goal is to create a decentralized storage market. Filecoin innovatively adopts an effective consensus mechanism: Proof of Replication (PoRep) + Proof of Time and Space (PoSt), with the help of the bottom technology based on IPFS decentralized storage to help IPFS effectively store and distribute data.
For an IPFS network to operate stably, users need to contribute a large amount of storage space and network bandwidth. Filecoin serves as the only incentive layer of IPFS to solve the huge resource overhead problem that arises.
In the Filecoin network, miners can obtain token rewards by providing effective storage space. In theory, the more effective data storage space contributed, the more Fil rewards will be obtained. Fil is the token incentive of Filecoin.
There are two types of storage miners provided by the Filecoin network: retrieval miners and storage miners. Their income composition is completely different. There are 4 kinds of income for miners in the Filecoin economic system:
(1) Reward distribution income: storage miners (partition of retrieving miners) obtain the distribution of Filecoin system rewards by investing in storage equipment and bandwidth. This part is consistent with the Bitcoin system economic model.
(2) Storage market revenue: Storage miners obtain transaction tokens by selling their storage space.
(3) Blockchain transaction fees: Storage miners create new blocks through competition to obtain transaction fees included in transactions in the block. This part of the cost is also consistent with the Bitcoin system.
(4) Retrieval market revenue: Retrieval miners obtain transaction tokens by providing data retrieval services. Simply put, it is to retrieve the traffic of miners selling their own.
IPFS and Filecoin complement each other and solve the problem of data storage and data distribution on the Internet, especially for countless blockchain projects. IPFS and Filcoin will continue to provide support for new applications as an infrastructure, and will play an important role in the creation of Web3.