Editors Note: This article comes fromWebX Labs Daily (ID: gh_3bc595acebaf), reprinted by Odaily with authorization.
Editors Note: This article comes from
WebX Labs Daily (ID: gh_3bc595acebaf)
Originally, Filecoin was criticized by the miner community due to its high pledge rate, but now the pledge rate has risen again. It seems that there is a hijacking scene between the project party and the miners. This situation is obviously intensified. In addition to the increase in pledges, the gas fee is also growing rapidly, so why did this confrontation and situation arise? What chemical reactions will occur? image description (data source filfox.info) secondary title Why does the pledge amount keep increasing? Pledging is a very common setting in decentralized projects. The purpose is to maintain the stability of the network and rely on the way of binding interests to restrain the nodes and miners who support the main network. This is the same as you in Taobao The principle of paying a deposit to open a store on the Internet is the same. Staking in a decentralized project can guarantee the quality of network operation, and can increase the cost of malicious behavior of black nodes, so that the interest goals and corresponding responsibilities can be well checked and balanced. The storage pledge is related to the revenue value per T of sector rewards in the current network. Judging from the current network conditions, this variable does not fluctuate much, so it has basically no impact on the changes in the storage pledge. In the consensus pledge, since the circulation of FIL has been increasing, the consensus pledge has also been growing. secondary title Is it a bad thing for staking to grow all the time? For miners this is beyond doubt. But it might not be such a bad thing for the mainnet. Because the final result of the increase in the pledge amount is to restrict the circulation of FIL. If the pledge is high, miners need to buy more tokens for pledge, so that the circulation in the market will be reduced again, thus forming a complete adjustment loop . For the long-term development of the project, the direct benefit is that the token price will not collapse due to excessive circulation in the initial stage of the project. From the perspective of long-term value, such a setting can form a self-regulating mechanism of the project together with other mechanisms. In order to finally obtain long-term benefits, participants will inevitably be locked on the network by such a pledge mechanism, thus stabilizing the main The power of the web. And speculators will also be dissuaded because they cannot see short-term benefits in this. But having said that, high staking means high cost, which is not a good thing for miners, especially small miners, in the long run. In fact, this has been very obvious in the first two rounds of the space race. Small miners face high costs. The pledge cost and hardware threshold can only be sighed, and finally had to seek help from mining pools or adopt cloud computing solutions, or even withdraw directly. But we believe that the official will not ignore this point. Whether it is for the needs of later market circulation or to stabilize the miner community, the amount of pledge will eventually decrease, so that the miner group can find a balance in it. secondary title Why do we need to stabilize the miners? Judging from several successful decentralized projects such as Bitcoin and Ethereum, as well as the typical negative EOS, a stable and long-term miner organization is extremely important for decentralized projects. Just like when we saw the parameter setting in the Filecoin space race before, big miners clamored for a fork, which is actually very detrimental to the development of the project. We have seen that Bitcoin has recently broken through 20,000 US dollars and has reached an unprecedented height. We will not discuss the reasons for its rise here. We need to understand why Bitcoin has been able to go down for such a long time, and has maintained an overall upward trend until today, until this time of the year. One of the most important reasons is the dedication of the group of Bitcoin miners and the improvement and stability of the mining industry chain. To put it simply, the Bitcoin mining machine is a continuous profit machine for the miners. The existence of the mining machine and the efforts of the miners make this value continue. service providers) and other people involved in the upstream and downstream of the mining ecology. Miners are the most important participants in Bitcoin. For miners, although the mining journey is not as simple as imagined, and they need to face different issues such as market environment, machine configuration, and energy supply, miners are still held by Bitcoin. Attracted by the profit distribution mechanism of Bitcoin, and new miners are constantly joining in. In the process of constantly checking for leaks and filling in gaps and refining the essence, it has become more and more stable. This also made Bitcoin usher in another glorious moment when it was 12 years old.As of press time, the current sector pledge amount displayed on Filfox has reached 0.2535FIL\32GiB, which is much higher than the 0.16FIL/32GiB when the mainnet was launched. The gas fee may be affected by the official upgraded temporary gas fee solution. Downtrend, but still at a high level.
At the beginning, Filecoin set three pledges, namely initial pledge, block reward pledge and trader pledge. Among them, the one that has a greater relationship with miners is the initial pledge, which can be broken down into storage pledge and consensus pledge. As the name implies, storage pledge means that miners need to pledge a certain amount of FIL before storing data, and as a large number of miners enter in the later period, the computing power will increase, and consensus pledges need to be made according to the growth of computing power and the circulation of FIL.
The logic behind staking growth
