Many cryptocurrencies, including Bitcoin, have “mining” that can be rewarded by joining the network.
Filecoin, which is the core technology of “IPFS” that builds the next-generation internet infrastructure, also has this mining, but Filecoin mining is different from other cryptocurrencies mining structure.
What is the difference between filecoin mining and other blockchain mining?
Mining requirements differ depending on each cryptocurrency, but especially Filecoin mining is different from Bitcoin and Ethereum mining in terms of what to do and how to think about it.
Bitcoin and Ethereum mining consumes the computing power and power of the machine to approve transactions and receive rewards.
Filecoin mining, on the other hand, is a mechanism that presents storage (server capacity) to provide to the IPFS ecosystem and receives rewards in return for providing an environment in which data can be stored and managed appropriately.
Unlike Bitcoin and Ethereum, Filecoin mining does not require high computing power or the huge amount of power that makes it possible, but as a member of IPFS, it is important to manage and maintains an environment that allows data to be read and written.
What is the advantage of Filecoin mining?
Filecoin mining is a business where you can expect capital gains at the time of sale due to the rise in Filecoin prices, in addition to the income gains that FIL accumulates daily as mining rewards.
This is a reliable project because it is a cryptocurrency linked to the technology that has already started and put into practical use, unlike the cryptocurrency mining whose actual condition and concept are not well understood.
Filecoin’s mining business also means playing a part in managing IPFS servers.
In other words, you can now participate in building the next generation of Internet infrastructure.
Infrastructure businesses are usually difficult for the general investor to participate in.
That is reason why many investors think that IPFS / Filecoin is a one-off opportunity, so we are still receiving many inquiries about this business today.