Filecoin mining needs not only a lot of funds but also requires very professional knowledge. For a beginner who doesn’t know about Filecoin mining, buying a mining machine is very risky. For most users, a professional platform is needed to help them check the authenticity and lower the investment entrance barrier in Filecoin mining.
What is Filecoin Mining?
Filecoin is a decentralized storage network that uses a proof-of-replication (PoRep) and proof-of-spacetime (PoSt) consensus mechanism to secure the network and incentivize users to provide storage. This consensus mechanism, known as “mining” in the Filecoin network, is different from the proof-of-work (PoW) consensus mechanism used by Bitcoin and other cryptocurrencies.
In a PoW system, miners compete to solve complex mathematical puzzles in order to earn the right to add new transactions to the blockchain and earn rewards. This process requires a significant amount of computational power and energy, and has led to concerns about the environmental impact of Bitcoin mining.
In contrast, the PoRep and PoSt consensus mechanism used by Filecoin focuses on incentivizing users to provide high-quality storage on the network. Miners earn rewards by providing proof that they are storing data correctly and consistently, and by participating in the consensus process to secure the network. This allows Filecoin to offer a more efficient and sustainable solution for decentralized storage.
In the Filecoin network, miners are nodes that are responsible for storing data on the network and providing proof that the data is being stored correctly and consistently. Miners are rewarded with Filecoin tokens for their contributions to the network. This incentivizes miners to provide high-quality storage and helps to ensure the integrity and availability of the data on the network. In order to mine on the Filecoin network, a user must have the necessary hardware and software to store data, and must be willing to commit a certain amount of storage to the network.
What is Filet?
Filet is a decentralized platform for storage power services. Filet connects all high-quality mining service providers and miners around the world using Defi scenarios. At the same time, tokenize Filecoin’s storage power to be freely traded in the market. Filet users do not need to compare the pros and cons of various mining machines or spend a large amount of money to buy one. They only need to stake FIL token in Filet to mine.
Filet breaks through the current barrier of high investment in Filecoin mining, allowing all investors to get rich returns by investing in Filecoin mining through Filet.
Token buyers know that trading token is not as good as stockpiling tokens. Buying tokens and keeping them in hands is almost the most stable way to get high returns. Before the existence of Filet, FIL holders could only put FIL in exchanges or wallets and wait patiently for the token price to rise. However, if they choose to stake their FILs in Filet, they can not only gain the benefits from token price rising but also gain additional mining benefits. In other words, when the price of FIL is getting higher, the amount of FIL they own will also increase.
At present, Filet has launched products with various staking periods, and the annualized income can reach up to 33%, which is far higher than other DeFi products. Recently, Filet even launched a current product that you can stake and withdraw at any time to meet the needs of various users to the greatest extent.
Especially when the FIL price is at a lower level, it is the best choice for Filecoin users to stockpile tokens in Filet. In the future, once the FIL price rises, there will be no limitation to the profit potential. No matter from which perspective, for Filecoin investors, Filet is a powerful tool for Filecoin mining and an income amplifier for Filecoin investment.