At present, the global cloud service market is growing rapidly. It is predicted that by 2024, the global cloud service market will reach 284 billion US dollars. With the advent of the digital economy, people have more data to be recorded and stored. After the vigorous development of 5G, big data, cloud computing, and AI, the demand for data storage has also exploded.
As a leading project in distributed storage, Filecoin mining has always been attracting lots of attention. However, it may be difficult and expensive for ordinary investors to mine Filecoin. Let’s take a look at how to mine Filecoin at a low cost.
What is Filecoin?
With the advantages of low cost, security, and durability, IPFS has become the most powerful competitor in the storage market and is expected to create a new Internet technology framework for web3.0. Currently, more than 5 billion files have been submitted to IPFS, and more than 100 blockchain projects have chosen IPF to store their data. The value of the IPFS network will be repaid to the contributors participating in the construction of IPFS.
As the incentive layer of IPFS, Filecoin has also become a potential project in the blockchain. Filecoin is a decentralized data storage network and public cryptocurrency that anyone store, retrieve, and host digital information, and sell the excess storage space on their computers. On the Filecoin network, users can earn rewards by storing and retrieving data for clients.
How to Mine Filecoin at a Low Cost?
Filecoin mining is favored by many investors. However, Filecoin mining is different from other mining projects, the entry barrier of Filecoin mining is very high, and it is not something that ordinary investors can quickly try.
For ordinary investors, it is a more suitable way to participate in Filecoin mining via Filet. First of all, to participate in Filet’s staking and mining, users don’t need to buy mining machines that are worth millions. And secondly, users don’t need to provide staked tokens, and you don’t need to care about complicated parameters like the cost of mining power, gas fee, packaging period, mining period, or mining efficiency.
More than that, Filet’s staking and mining incomes far outperform most of the other DeFi projects, of which the APY of the 360-day staking is around 30%. At the same time, there are other fixed staking periods and flexible periods available, which can meet the needs of most ordinary investors. That’s why Filet’s staking and mining is the most convenient and risk-free way for ordinary users to participate in Filecoin mining.
According to IBM, the amount of enterprise data storage is increasing every year. By the end of 2022, the cost of cloud services will reach $100 billion. As long as IPFS distributed cloud storage has a 10% market share, that’ll be $10 billion! The current circulation of FILs is less than 200 million, and the value of each FIL will be at least $50! With the further expansion of the market in the future, it is only a matter of time before FIL price continues to rise.