Recently, FILCOIN has risen all the way, from hovering around US$40 in early March to the current sideways range of US$120. While the currency value has risen, the cost of mining has also been rising. In theory, this will result in a decrease in the number of miners entering the site, which will directly lead to a decline in the growth rate of the entire network’s computing power.
Compared with Bitcoin, FIL mining machines have stricter environmental requirements. Average FIL miners must be placed in the IDC computer room to operate normally. IDC computer rooms generally belong to constant temperature and humidity. They need at least a dual mains power supply, large UPS systems, large diesel generators, large oil depots to ensure power supply, and at least dual gigabit networks.
On the contrary, the home circuit has the risk of disconnection and power failure. NAT internal and external network penetration problems, public network IP problems, and home bandwidth cannot satisfy mining. It is not practical for users to mine on their own. The pledge cost of FIL mining is also very high. Therefore, to ensure the safety and stability of FIL mining, almost all FIL mining machines are hosted in a national computer room. When an error occurs in the mining process, whether the technology can be solved quickly is also a significant consideration. After all, there are already many large clusters that have lost all due to this type of problem! This shows that choosing the right mining company is very important.
In addition, miners need to provide pledged coins when mining, and they must also pay a handling fee. The pledge currency is equivalent to the deposit, and the handling fee is the cost consumed in the mining process, which is equivalent to the gasoline cost to be consumed when driving. Miners have to pledge coins and pay handling fees before mining, and these can only be done by purchasing FIL coins in advance on the exchange. With the increase in the price of FIL currency, the cost of purchasing the currency has also increased. So far, FIL’s borrowing costs are still high, and miners’ demand for FIL tokens continues to grow.
Therefore, when the price of FIL stabilizes below $30, it reduces the investment pressure on miners. In the early stages of the development of the Filecoin network, it promoted the development of the primary network to a certain extent. When the price of FIL coin has exploded, it is suitable for speculation in the secondary market, but it also means that the cost of mining has also increased. For the actual landing of the storage application of the entire Filecoin ecosystem, the skyrocketing price of FIL may not be a good thing.
Due to the high cost of FIL’s pledge and other mechanisms, it is not suitable for large-scale promotion. The market needs a better platform and system that is more suitable for individual users. The newly launched Mars miner mCloud application does not require high pledge fees. It is convenient for users to start mining immediately, creating a new era of innovative data storage. The currency used by the mCloud system, Mars Coin, is committed to building a more complete decentralized distributed storage solution to support large-scale data storage. Mars Coin focuses on four areas of project development:
- Reducing storage costs
- Improving data security and user privacy
- Ensuring efficient data storage
- Creating a solid ecosystem
It has also made significant progress in these four directions.
The Mars Coin main chain adopts the hybrid consensus algorithm of PBFT+VRF, Proof of Replication (PoRep), Proof of Time and Space (PoST), and Improved Proof of Transmission (PoT). Through the above technical design, the globalization of storage nodes has been widely distributed. This ensures that the primary network can utilize many unused bandwidth and storage resources on the Internet and provide reliable storage services at a lower cost. Mars Coin meets the storage requirements of today’s Internet businesses, services, and emerging decentralized applications.
To meet the requirements of reducing storage costs, Mars Coin adopts global miner nodes. Several miner nodes have copies of the same data and provide users with data storage and transmission services through competition. Therefore, miner nodes will spontaneously reduce storage costs and increase transmission speeds to attract users. Blockchain technology will be the future of data storage and the key to the era of decentralized data storage 2.0. The Mars Coin team has become an indispensable part of the existing Internet protocol, building a more open and transparent future.