What is a FIL coin

Filecoin is an incentive mechanism in IPFS, the underlying transmission protocol of the Internet. In IPFS network, there are many data nodes which are composed of storage hard disks. These nodes link together to form a distributed network file storage and transmission system. Each time a node’s hard drive stores data, it is rewarded with a filecoin, or FIL coin.

How to mine FIL coins

It is insufficient to have only the ore machine for FIL coin mining, and the original ore machine does not have calculation power. Only after the pledge currency and gas fee are encapsulated will there be calculation power.

In addition, FIL coin mining is completely different from Bitcoin before. The conditions of FIL coin mining are very high. In order to ensure the highest efficiency of mining, the mining machines are often arranged in the national IDC room with constant temperature and humidity.

Because FIL coin mining is a process of storing data to the network, it must continuously respond to the network nodes. So to ensure that the mining machine has a stable network IP and 24 hours of stable power supply.

In ordinary domestic environment, people’s network ID is randomly changed by the operator. Only professional IDC room can ensure that the mining machine has a fixed network environment, and stable power supply. In case that the response network node is out of time during mining, the pledged currency will be deducted by the system, causing unnecessary losses for the miners.

Generally, the input of FIL coin mining has the following aspects:

1, the mill

(1) At present, there are mainly three standards for mining machines given by mainstream mining machine manufacturers: 8T.96T and 192T

(2) 8T is generally hard disk single, that is, in a 96T mining machine with a single 8T hard disk mining;

(3) 96T mining machine is composed of 12 8T hard disks, which is an independent mining machine of the whole equipment;

(4) 192T mining machine is also composed of 24 8T hard disks, which is an independent mining machine of the whole equipment.

2. Pledge coins and GAS charges

An initial FIL miner must have a corresponding number of FIL coins for pledge and gas acceleration before it can mine. Example: The computing cost is about 7.3FIL/ TIB, and the coin price is about $50, then the computing cost of packaging 1T is about:

7.3 (piece) ×50 (USD) ×6.5 (exchange rate) ≈2372 (Yuan)

In this case, the pledged money would be returned to the miner after the corresponding period, and the gas fee would be destroyed by the system. The pledge currency and the gas fee are a variable value. The cost of pledging coins and gas charges has dropped along with the price of the currency, compared with the previous high of $200.

3. Hosting fee of mining machine

Miner hosting costs are usually very low, which is a fixed cost.

4, machine room operation and maintenance costs

FIL coin mining machines are usually hosted in professional IDC room, and the internal hosting operation and maintenance fee of the industry is basically 20% of the number of coins produced.

3. Income from FIL coin mining

Example: the average 24-hour mining efficiency of the whole network is about 0.05FIL/ TIB, and the currency price is about 50 US dollars. That is to say, the effective calculation force of 1T can probably dig out 0.05FIL, deducting 20% operation and maintenance. The income of the effective calculation force of 1T can be about:

0.8×0.05 (piece) ×50 (USD) ×6.5 (exchange rate) ≈13 (yuan)

One mining machine with full encapsulation computing power of 96T throws out the redundant space, and the effective computing power is about 64T. According to the current trend, it can generate profits for the miners about

64 (T) ×13 (yuan) =832 yuan

One fully encapsulated 192T mining machine throws out the redundant space, and the effective computing force is about 128T. According to the current trend, it can generate profits for the miners about 1 day

128 (T) ×13 (yuan) =1664 yuan