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Filecoin fighting AWS

The most important question to the market is how to avoid an exit of f. e. AWS services.

This means you will finally lose your DLT in the cloud. Is there a solution if you mine storage coins? Does this makes sense. If the computers where the participants of dealing with storage of course Filecoin will incenvtive them. But on the other hand, we know about the InerPlanetaryFileSystem (IPFS) this allows storing data on the computer of dlt systems and blockchain systems with a wide range of security.

What is about Filecoin?

Mining on Filecoin is largely about providing storage space using traditional storage systems. This is commodity hardware. Almost anyone with an internet connection can participate. A quality one-terabyte hard drive can be purchased for around $50, though most entities participating will put up vastly more than that.

The point being that Filecoin does not enjoy the expensiveness of specialized hardware (such as Bitcoin or Ethereum ASICs) as a way to discourage unserious participants, so it needs to require a slashable stake in order to prevent malicious actors from accepting deals for terms they don’t honor.

The Filecoin system requires upfront collateral. Block rewards are also subject to vesting, in order to help ensure participants stick around long enough to honor commitments.

One of the features that might seem strange about Filecoin at the outset is that participants can earn rewards for storing nothing.

This is referred to as committed capacity. It’s effectively empty space that has nevertheless received the Filecoin cryptographic treatment and is getting logged and rewarded on the system.

At first blush, this might not make any sense, but it’s a matter of having some room in the system.

“What you don’t want is a network where there’s no extra capacity available or you don’t know extra capacity is available,” Darrow said. Further, because all nodes are also participating in securing the Filecoin blockchain, they are contributing to consensus.

At least storage sold for a mining and fee scheme is centralizing the idea itself. There is no need to raise fees on usage like rent. A company must be independent. DLT is a software all in one package instead for example SAP. To avoid brilliant DLT technology never will come alive we have to say goodbye to the fees and token structure. Otherwise DLT will only an entry in a dictionary of the past.

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