Using external hard disks to mine filecoin? How many filecoins are there in total?

Oct 19,2022
Using external hard disks to mine filecoin? How many filecoins are there in total?

How to use external hard disks to dig file currency? What is the total amount of FIL currency issuance?

Filecoin mining is different from Bitcoin and other cryptocurrencies. Filecoin miners do not provide computing power, but contribute to storage space to meet the needs of users who want to store data. In other words, Filecoin miners play a "database" role in the ecosystem, that is, using computer hard disks can be used for mines. So, how to use external hard disks to dig file currency?


What is Filecoin?

Filecoin is a decentralized storage network made by Protocollabs to transform distributed storage into algorithm business centers. This is a very novel and useful stage, because it allows its customers to store documents and use them PC to convert it into a data set and allow tokens as prizes.

Filecoin network is active from Web3, which is a high -level programming promotion project that eliminates centralized. Filecoin can also provide record capacity management for other decentralized stages, and strengthen the exchange connection with other blockchain stages, thereby improving interoperability.

Filecoin is supplemented by IPFS, and IPFS stores and shared information in decentralized networks is an agreement. In other words, all Filecoin hubs are IPFS and can use hub libp2p and other related IPFS and other related hub IPFS hubs to get IPLD arrangements.

These two frameworks are free, open source, and provide a lot of resources.


FIL currency reward mechanism

Miners have received different forms of compensation for their contribution to the network. There are two types of deposits and block rewards for Filecoin mining rewards.

Each user stores data on the Internet, and will pay the miners with storage fees. The stored cost of miners depends on how much storage they provide for the network.

When the miners successfully mined a piece, they will get a reward. Block is a set of blockchain transactions that have been verified and added to. The number of blocks depends on the size of the block.


How to use a hard disk to tap the Filecoin tokens?

Filecoin mining principle:

1. Storage market users contribute their idle hard disk space, become storage miners, and get Filecoin rewards. The process of storage files is roughly as follows:

The first step, the user sends the storage demand order, the system matches the miner and orders, and once the match is successful, enter the second step. The user sends the file to the miner. After receiving the file, the miner put the file in the database, encrypted, and verified on the chain. Finally, the miners continued to prove that they were working by replication. The amount paid by the customer is paid in installments. In the process, the salary of the miners is linear. Copy certificate is a new storage certificate that can ensure that the storage of each data is independent, and at the same time prevent hackers from hacking. Provide you with total number of storage resources and external attacks.

2. Searching market user request documents and paying Filecoin to the search market, the fastest miners have the right to distribute documents. Simply put, the miners provide network bandwidth to help users extract what they need. In terms of the mining mechanism, the Filecoin is very different from that of the mining space for disk space. BTC mining is a reduced market, one is dug out, and the other is the digging IPFS mining is an incremental market. As the project application increases, the project party will upload a large amount of data, and the price of the data market will rise. IPFS will benefit more, and miners will benefit more. FIL mining does not need to compete with computing power. FileCoin compete with storage and bandwidth resources. Unlike storage miners, retrieval does not need to provide mortgage tokens, storage data or storage certificates.


Filecoin mining requirements

To start digging, you will need the following:

Computers support virtualization and more than 8 kernel processors, such as Intel's third -generation Xeonscalable.amd 3rd generation EPYC or IBMPOWER9 processor. This is necessary for running excavation software (LOTUS.Slate). Intel SHA expansion is also a good idea.

At least 1TB is based on NVME disk space for cache storage. We also recommend that you buy additional hard disks for final storage. The more storage you have, the more Filecoin you can get. After all, the network parameters exceed 100GIB.

At least 128GB of RAM (and 256GIB exchange space).

The Internet connection is good.

A Filecoin wallet. This is where your Filecoin stores. You can use the official Trustwallet application or Coinbase to create an online service.


How to install a mining machine with a hard disk?

To install FileCoin mining machinery, you need to download the mining software first. We recommend that you use LOTUS. Set the exchange size to 250GB now. For this reason, please enter your BIOS and change the "advanced memory settings".

After that, save the change and restart the computer. The next thing you need to do is install your SATA drive. You will use this hard disk drive Filecoin to store.

finish installation:

Set a fixed IP address in the LAN.

Change the file limit.

Allow the setting firewall FileCoin connection.

Install the NVIDIA graphics driver and Lotus update.

Create a wallet.

Start LOTUS storage miners.

Set environment variables.

Set the miner configuration.

Run Lotus-Storage-golder. Add new storage.

Start the Sealworker and start the seal process.


Step description of Filecoin (FIL)

Compared with the example of Bitcoin and other digital currency forms, the Filecoin mining method is unique.

The most important thing is that there are two protocol tools in the Filecoin network: replication certificate (POREP) and time and space certificate (POST).

In the middle of Filecoin, the excavator does not contribute computing power, but to solve the contribution ability of customers/customers to store information. In short, in the biological system, the excavator plays a role in the "information library".


There are five types of customers who can exchange the FIL tokens, namely: engineers, customers, excavators, token holders and biological systems.

Three business segments: record capacity, file recovery and token transactions.

1. Capacity excavator: By saving information and processing encryption for customers, check the long -term capacity to obtain information FIL token rewards. Unlike Bitcoin excavators, the possibility of getting each reward and transaction cost depends on these excavators as the ability of these excavators, but how much the organization increases.

2. Restore excavator: Purchasing specific records of the FIL tokens and mining costs depends on the market value and scale of the file. Their data transmission and bargaining time determine the number they can arrange.

3. Repair excavator: It will start from now.

Each Filecoin excavator respects the power of the organization, corresponding to the contribution space, and decides to obtain a square option in each era.


How many filecoins(FIL) are there in total?

The total supply of Filecoin is 1.97 billion FIL coins.


Common problem

Is it profitable to tap Filecoin?

However, its profitability will depend on many factors, such as Filecoin price (its current price is $ 7.63). Your available storage space and the storage space CPU or GPU power you are willing to use for mining.

Generally speaking, the more storage you have, the stronger your computer, and the more profits of mining.

What do I need to dig out Filecoin?

You will need a good computer with a powerful processor, that is, more than 8 kernels. At least 50GB of at least 128 A available space GB RAM. Next, you need to download the FileCoin software (such as Lotus or Slate).

The excavation software will use your computer CPU or GPU to dig Filecoin. As long as the mining software is run, you can get a reward.

How long does it take to dig Filecoin?

It takes 1 to 5 hours to minimize a Filecoin. Speed ​​will depend on your computer's ability and the size of your mining pool.

How to create Filecoin?

You can create its FileCoin by digging. When you dig Filecoin when you contribute to the network storage space. As your contribution, you will get a return Filecoin.

As mentioned earlier, mining machines are divided into three types: storage machine. Search mining machines and repair mining machines. Storage earns income Filecoin by providing storage and storage customer information to the network. On the contrary, the search for miners needs to provide services.


So if you want to learn how to mine Filecoin? First of all, you need to decide whether you want to be a miner.