Seeing that the recent upward momentum of Filecoin has driven the FOMO sentiment of many users, some retail investors even feel like they are breaking their thighs. Before the publication of this article, the highest FIL of 216 US dollars has increased by 608% in this month, which has increased retail investors’ interest in Filecoin. Confidence.

Those who are familiar with me know that I am opposed to the Filecoin project. The reason is very simple. Filecoin must choose IPFS, and IPFS does not necessarily choose Filecoin. Although both come from Protocol Labs, one of them is a concept. , one is a project, not comparable.

The vision of IPFS is good. It proposes a new solution for the existing storage system. The use of distributed storage can solve the problem of large-scale downtime when a server is abnormal. Even large factories cannot avoid this problem. , I will list several large-scale downtime events for you:

1. On June 2, 2019, Google Cloud Platform experienced a severe network outage, affecting hosting services in the US West, US East, and US Central regions.

2. On July 4, 2019, users connecting to the Apple website and some of its services (such as Apple Pay) experienced severe packet loss for more than 90 minutes. This issue prevents many users from successfully connecting to Apple.

3. On May 13, 2020, the Tesla mobile APP went down, resulting in the inability to connect the mobile phone and the car, and the account could not be logged in.

There are still many incidents like this, which deeply let us realize the necessity of multi-party coordination. Now that centralized and complete control, if we can control from multiple points, we can resist many attacks and effectively solve the current problem of waste of storage space.

IPFS technology is absolutely innovative to the world, but Filecoin is not. It is just a Token. If an enterprise uses IPFS technology and also considers the price of FIL, it is too ridiculous.

The Brave browser that I often use is one of the IPFS application scenarios. When you enter IPFS in the address bar, Brave will issue a prompt asking if you are willing to use the public IPFS gateway for resolution, who to trust, and whether to choose whether to run peer-to-peer software on your computer. Authentication is delegated to a trusted gateway.

This is the real benefit brought by IPFS. It is not just buying a mining machine to mine every day. This is called IPFS. The token is just an incentive tool, which does not mean that it is inseparable from technology.

Let's look at the economic model of Filecoin. Everyone knows that Filecoin mining requires pre-staking, but the amount released in the early stage is very small. How to get more FIL tokens to pledge? The answer is to buy mining machines for mining and continue to buy FIL in the secondary market. This is actually very interesting. After spending money on mining machines and buying FIL, the final output is still FIL, and it is released linearly. What are the benefits?

The answer is that the price of FIL tokens has risen. As it is now, some retail investors are very happy to make money due to the price rise, but for those who participated in FIL early, their mood will definitely not be like this.

The economic model is divided into two parts:

1. Miners. 75% of the block rewards earned by miners are unlocked linearly over 180 days, while 25% of the rewards are given to miners immediately.

2. Early investors (SAFT). All SAFT holders receive FIL subject to linear lock-up terms of 6 months, 1 year, 2 years and 3 years, starting from network launch. Most purchased SAFT tokens unlock linearly over 3 years.

April 15th is the first wave of unlocking, and the blocks are halved at the same time. This is definitely not good for miners. It is necessary to know that any digital currency that needs to buy mining machines is a long-term behavior, and when the interests of miners are damaged, the short-term What's the use of raising the currency price?

How will these so-called "long-term believers" feel now when the price of the currency falls or the market sells heavily? And it is just a game hyped by Chinese people. Enterprises that really use IPFS technology will not consider the incentive layer.

Therefore, IPFS is the development trend of the times, and Filecoin is just one of the many incentive layers, and it is not necessary.