Hong Kong, China -- (ReleaseWire) -- 12/06/2020 --On November 8, the ZB.com platform officially launched the Zillion mining pool Filecoin full computing power leasing product, and launched the first phase of computing power subscription activity. The event was welcomed by many users, and the subscription of 3000T hashrate was completed on November 11. Yesterday was the first day that the computing power product issued revenue. As some users did not understand Filecoin's economic model, they found that the amount did not match expectations after the revenue was received. So today, the editor will take you to understand Filecoin's economic model and the advantages of Zillion mining pool Filecoin's computing power leasing product.
First, let's talk about the threshold of Filecoin mining. Filecoin miners are completely different from IPFS miners. IPFS mining machines rely on high-quality storage services to mine. Whoever can store more data will be able to mine more. The key to competition lies in storage capacity. Filecoin mining machines rely on computing power competition. Whoever has strong computing power will dig more. The key to competition is computing power. Therefore, the difficulty of Filecoin mining has increased a lot, and the requirements for software, operation and maintenance, and computer room are very high. The mining machine is an expensive high-performance server, and the cost is much higher than that of the IPFS mining machine.
The price of a 96T mining machine is about 100,000 yuan. According to the current Filecoin price (about 30 US dollars), the net payback period is 7 to 8 months.
If you want to achieve the highest mining speed, a 96T mining machine needs about 90 days to complete the packaging (under the prerequisite of sufficient pledged coins). Before the full deposit, the computing power will continue to increase until it reaches the highest computing power. Moreover, miners also need to pay 20% of operation and maintenance costs to miners. Therefore, if an ordinary user chooses to buy a mining machine for mining, the cost to be borne includes: a 100,000 yuan 96T mining machine + 75-day packaging period + pledged cryptocurrency.
The full deposit Filecoin computing power leasing product provided by Zillion mining pool allows users to avoid the cost of mining machines, without mortgage, and without waiting for the 90-day packaging period. Apart from the technical requirements, these are the costs of keeping ordinary users out of Filecoin mining. After subscribing to Zillion mining pool Filecoin with full computing power, users only need to wait for the income. Zillion mining pool will remove the necessary 20% operation and maintenance costs and will not deduct any income from users.
Filecoin economic model
Next, let's talk about the Filecoin economic model that everyone cares about most and the rules of income distribution. In the previous newsletter released by ZB.com, "According to the current Filecoin mining income is about 0.21FIL/T per day, the estimated static income of 1T in one year is 0.21*365*80%=61FIL. The currency will be distributed daily according to Filecoin's official release rules. " The user understands that the revenue per T per day is 0.21T*80%=0.168FIL. In fact, this is not right, because the receipt of the coins needs to follow the official release rules of Filecoin, and even the Zillion mining pool must follow the official rules.
Compared with the economic models of well-known public chains such as Bitcoin and Ethereum, Filecoin's economic model is most special in that it introduces two mechanisms, "pre-mortgage" and "180-antenna release". In other words, if Filecoin miners want to obtain FIL tokens through mining, they need to deposit a certain amount of FIL tokens to the officially designated wallet address in advance before they can mine; The mining income obtained also needs to be released after 180 days.
According to Filecoin official regulations, every miner node encapsulates a sector (32GB, 1T=1000GB), it needs 0.19 FIL tokens as pre-staking (the current number of FIL pledges shows a slight upward trend every day). And every package of 1T of storage space (1024GB) requires 6.08 FIL pre-mortgage and the period is 540 days. Due to the large number of coins that need to be pledged and the long mortgage period, the Filecoin network was officially launched, and the miners soon challenged the official due to the pledge issue.
According to the current data of major browsers, the average output of FIL tokens on the entire network is 0.21 /T/day, of which only 25% are released immediately, and the remaining 75% are divided into 180 antennas. This release rule is the result of the official concession to the miners. Originally, 100% of the revenue should be divided into 180 antennas.
So, if a user purchases 1T of Filecoin provided by the Zillion mining pool, what is the actual income of the user?
Assuming that the current mining speed is 0.21FIL/T, the daily static income of 1T is 0.21FIL, and after deducting 20% of the service fee, it is 0.21FIL*80%=0.168FIL. Among them, only 25% is the income received on the day, that is, the actual income received is 0.168FIL*25%=0.042FIL. The remaining 75% shall be divided into 180 linear releases.
On the second day, the actual income received by the user is: 0.042FIL+0.042FIL*75%*1/180=0.042175FIL. As time increases, the daily actual receipt income will also increase, because there is a 180 antenna release of the previous 75% of the income. Therefore, after purchasing 1T of computing power for one year, the actual cycle of receiving all the benefits is 1 year + 180 days. I believe this addition is easy to understand for users.
Some users may be wondering, the actual income I received yesterday is not the above figure? I need to remind here that the daily mining speed fluctuates. You can go to the major Filecoin block explorers to check. The editor here provides a browser address: https://filfox.info/zh/address/f018780, this is the earnings display page of the miner number f018780, f018780 is the miner number of the Zillion mining pool.
Filecoin's future value
This proportion of investment income obviously makes some speculators and major mining machine manufacturers unsatisfied. For investors, does this mean that Filecoin has no investment value? Will it be the same as EOS? In fact, this is not the case. On the contrary, the official formally considers the long-term value of Filecoin and set up such a complicated economic model. If a simple mining mechanism is set up from the early stage, even without a threshold, it will only overdraft the project's own expected value and future potential. The price of BTC was extremely low ten years ago, and "3000 for a pizza" is a true portrayal. Really valuable projects are worth waiting for.
For the current Filecoin economic model, we should understand it with a more tolerant mind. After all, the government really wants to make data storage practical. This is a continuous and great undertaking, and it is also a low-risk game for long-termists.
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