For all people who are new to Filecoin, they are probably a little confused when they hear about the pledge mechanism. Why does mining require a mortgage? Why does the previous digital currency mining do not require a mortgage? This is the uniqueness of Filecoin, so today we will talk about Filecoin's mortgage mechanism and punishment mechanism.
In Filecoin's official blog, it was stated that some economic parameters may need to be modified before the mainnet goes live, and the Filecoin network has no final economic parameters, because Filecoin will always be a growing network, and some functions will also It was added after the mainnet went live and brought about changes in economic parameters. V| jasonbody
The main purpose of Filecoin's birth is to serve as an incentive layer for ipfs, to establish a new data storage and content distribution network, and to create a distributed and efficient storage network for all mankind. And by setting the economic structure of the Filecoin network, the participants and the network goal incentives are compatible. Effective and reliable storage of the network is achieved through a few rules.
In the entire development process of the network, let miners spontaneously provide data storage space, and the entire process is decentralized, so it is necessary to ensure that the data stored by users will not be lost?
I believe everyone will have this experience in the process of using the network disk. When you store a file that is more precious to you in a certain network disk, after a certain period of time, you find that the file is lost due to unknown reasons. And when you have no other backups, I believe you will be confused, because it means you can no longer find the file.
So can we find the network disk to recover the loss? In theory, the XX network disk is responsible, but according to the relevant clauses in their "User Agreement", even if your files are lost, in theory you can only get back the money to recharge the VIP. If you are a free user, then sorry, you don't have to accompany a penny.
From the above example, we can see the shortcomings of current centralization. Users cannot really call the shots of their own data and have to bear various unfair overlord clauses. You can only choose to use it or not, but you still have the same experience if you change one.
The launch of Filecoin is expected to change this dilemma for users. Traditional centralized storage cannot guarantee the security of users' data. The root cause of frequent loss of all data in traditional centralized storage is that the cost of default is too low and there is no alternative solution. The birth of Filecoin will have a new alternative but Filecoin can. How exactly does Filecoin do it? This is the charm of Filecoin's pre-collateralization and punishment mechanism.
Filecoin achieves the purpose of restraining miners through profit and pre-mortgage. The pre-mortgage mechanism increases the cost of default for miners, and the benefits after the completion of the contract are high, allowing the miners to complete the established contract honestly. If the miner breaches the contract, the miner's corresponding mortgage will be deducted through the penalty mechanism, so that the miner dare not breach the contract.
There are three penalty fees on Filecoin, sector failure fee: if the sector is in failure, the miner must pay a block reward with an initial value of 2.14 days, and the sector failure detection fee. If the miner does not report the failure truthfully, it will be checked on the chain. When it comes to unreported faults, miners need to pay a fault detection fee.
Taking into account the probability of PoSt inspection, the fee is the 5-day block reward that a specific sector can get. If the sector fails for more than a certain period of time, the system will consider that the sector has failed, and the miner is incompetent or no longer maintains the sector. During termination, if a sector is in a faulty state for too long (14 days), the chain will terminate the transaction and refund the user's remaining order fee and punish the miner to pay the sector termination fee. Knowing why the penalty mechanism exists, you can understand Filecoin's mining mortgage mechanism logically.
All penalties are paid through pre-mortgage, and the final mortgage and punishment economic model need to wait for the mainnet to go online.
Filecoin mining as a whole has a higher technical content than Bitcoin and Ethereum. After the mainnet goes online, the network will run automatically. By then, as long as the miners’ technology does not meet the standards, they will be punished by the system. All miners with insufficient technology Will be punished. Therefore, it is also the reason why the original interstellar community has always emphasized safety, stability and efficiency.
The alliance node T02770 of the original interstellar community interprets safety and stability in the space race. Only in this way can subsequent output be guaranteed and stable output income.
At the moment when the mainnet is about to go live, related scams are rampant, so I hope everyone keeps their eyes open and guards against being deceived.