Why Sichuan bans BTC mining while Filecoin, Swarm can! At midnight on the 19th, perhaps a historic moment for China’s Bitcoin mining industry, the shutdown load of about 8 million kilowatts was shut down in Sichuan, which accounted for 10% of the computing power of the whole network. At this point, the average computing power of the whole Bitcoin network has fallen by about 43% from the high of 181E, marking the end of nearly a decade in which China has led the global Bitcoin mining industry

Miner Bitcoin has been controversial since its birth:

1. A peer-to-peer electronic currency system. Going beyond the application of blockchain platform to replace fiat currency payment is also a major controversy.

2. High energy consumption. Bitcoin mining consumes about 121.38 billion kilowatt-hours of electricity per year, which is used in more than 160 countries.

Bitcoin has nothing to do with the real economy.

4. Bitcoin trading, as a huge international capital access channel, is difficult to control. Under the high pressure of the policy, the era of Bitcoin mining has come to an end in China. The miners who stirred the storm in the past have already transformed the transformation of the transition and the migration of the migration of the mine. The vast majority of current mines rely on hydroelectric power, but Filecoin shows that subsequent blockchain projects are becoming less and less energy-intensive, and will gradually become less and less energy-intensive.

First, it is an inevitable trend for the traditional computer room to move towards IDC

IPFS is a revolutionary and practical technology, and the national policy supports IPFS distributed storage. To truly bring IPFS technology to the world, Filecoin must be a blockchain project, because Filecoin:

First, low energy consumption. Compared with the high energy consumption of POW mining such as Bitcoin, it is almost negligible.

Second, the risk is low. Value coin is different from air coin, return to zero risk.

Third, it serves the real economy. It is one of the few blockchain projects that are closely combined with the real economy and can be applied on the ground, which is in line with the “new infrastructure” policy.

The fourth; China has established IPFS special committee, Chinese Academy of Sciences, Fudan University and many other IPFS research institutions. Fifth, it is widely used. Such as the documents of the National Radio and Television Administration

FIL, as the IPFS excitation layer, is indivisible; it is not a real currency and is only an asset that is applied in the Filecoin network. With the huge demand for data storage, Filecon will also continue to increase the value, plus IPFS is China’s “new infrastructure” construction, is the new era of the tuyere project, so the prospect of FIL is very broad. Filecoin’s excellent economic mechanism, high node requirements, establishes a reward and punishment mechanism, like a complete group company statute and legal system of management. Everyone can participate, with a high degree of autonomy, and rewards and punishments depending on their compliance with the rules. From the perspective of the underlying structure, IPFS provides a new solution for the existing storage industry, which can solve the problem of data storage security, efficient transmission to protect user privacy, and reduce the cost of data storage and transmission.

The birth of IPFS, the perfect solution to the problem of HTTP, is distributed storage of data, so that hackers lose the target of attack, data security is higher. IPFS adopts distributed multi-point transmission, which greatly improves the transmission speed of IPFS and saves about 60% of the network bandwidth. IPFS uses hashing deduplication to store data, which will greatly reduce the cost of data storage. These help IPFS truly defeat the underlying business dynamics of HTTP. The unstoppable process of technological development is to make it safer, faster, and cheaper, to subvert the traditional model, just as E-mail replaces the traditional letter. BZZ miner docking with HBLAN413

Recently, our country’s largest engineering strategy is to calculate number of east west, will across the country set up eight hub node, as our country is the backbone of the power network connection point, cluster development data center, cloud computing data center and network cooperative construction between big data, and an engineering as the national number of east west strategic fulcrum, promote orderly work force resources transfer to the west, We will work to resolve the imbalance between the supply and demand of computing power in the eastern and western regions. Both Filecoin and Swarm will be able to build local data centers, which is called new infrastructure, to support the development of a national computing project. From the fundamental perspective of blockchain, we can see distributed storage becoming the new direction this year.

As an industry leader in global distributed storage, IPFS is gaining popularity among local governments. Faced with the choice of times and opportunities, some local governments and leading enterprises are willing to personally participate in this technological change. Government support and integration into the IPFS distributed storage field is of great significance for all domestic industries. On April 24, 2021, the Chinese Academy of Sciences (IPFS) Joint Laboratory of Distributed Storage was established in Dongguan, Guangdong, which is another national IPFS research institution after the establishment of the Distributed Storage Research Center of China Institute of Industrial Development (IPFS), which is in charge of the National Development and Reform Commission. IPFS distributed storage technology has been recognized and participated by more heavyweight scientific research institutions. People’s Daily Online announced the use of IPFS technology on January 27, 2021. “People’s Cloud Network is a blockchain distributed storage data center network under People’s Data (National Big Data Disaster Recovery Center), a joint venture between People’s Daily Online and the Ministry of Industry and Information Technology.

Chinese Academy of Social Sciences

On January 11, 2021, Zhejiang Provincial Development and Reform Commission, Zhejiang Academy of Sciences, Zhejiang Academy of Social Sciences, Zhejiang University and other leading groups formally established the 2021-5G new infrastructure IPFS innovation research team.

Ministry of Science and Technology

On April 3, 2020, the Ministry of Science and Technology said that it will increase cutting-edge technology research and development of IPFS distributed storage, focusing on blockchain, advanced computing, core software, broadband communications, artificial intelligence and other support for the country’s new infrastructure construction.

National Radio, Film and Television Administration

On November 6, 2020, the State Administration of Radio, Film and Television specifically mentioned IPFS distributed storage technology (Section 4· 4.2, Page 34) in the chapter of the white paper on technology application — the basic layer of content review. IPFS distributed storage is mentioned in the White Paper of the State Administration of Radio, Film and Television, and the application value and technical advantages of IPFS are affirmed by the State Administration of Radio, Film and Television, which shows that this technology has been attached great importance to. BZZ miner docking with HBLAN413

Ministry of industry

As early as April 2019, the state set up a professional committee on IPFS and appointed Xin Bingqian as the secretary general to rectify the industry disorder and to introduce relevant policies to clean up the industry in the future to ensure the healthy development of IPFS in China! On the most positive front, some Bitcoin miners will be making the transition to the Web 3.0 era. For example, some miners are already actively involved in new projects like Filecoin mining. At present, the whole blockchain market is still in the blue ocean stage, and may have decades or centuries of development in the future. This chain can bring you long-term or greater benefits.