Welcome Venus to Filecoin Mainnet
Filecoin is a distributed network designed to store the most important information of human society. As a blockchain network, Filecoin provides a powerful, decentralized, and verifiable platform for anyone to store and interact with data. Over time, miners participating in the network receive block rewards directly proportional to the reliable and useful storage they provide on the network.
However, it is difficult to programmatically incentivize data storage on the network without a reliable way to algorithmically distinguish actual useful data from generated randomness. Network rewards in the form of block rewards to incentivize valuable storage on the network. However, it is difficult to programmatically incentivize storing data on the network without a reliable way to algorithmically distinguish truly valid data from generated randomness.
In order to maximize the effective storage capacity that Filecoin can support, the Filecoin network innovatively introduces a layer of social trust through Filecoin Plus. Clients trade with miners using a novel resource - DataCap. As time goes by, miners store more and more valid data, and the block rewards they receive gradually increase.
Filecoin Plus is a practical solution to the technically difficult problem of verifying that a particular dataset is useful in a permissionless, incentive-compatible anonymous network, and provides a way to incentivize usage of the network in an efficient manner.
How much frontier information do you know
Inspired by Nobel Prize winner Elinor Ostrom, Filecoin Plus is built on a set of guiding plans (see FIP-0003 for details), which focuses on improving the effectiveness of Filecoin as a decentralized storage network for humanity's most important information.
Key holders, notaries, clients, and miners interact by allocating and using DataCaps. DataCaps are awarded in batches to community-selected notaries, who in turn distribute them to trusted clients. These customers use DataCap to fund storage deals. Miners who acquire a DataCap will increase their mass-adjusted power by a factor of 10 through the storage provided by the transaction, thereby increasing their share of the block reward in the network. This creates a mechanism that incentivizes all participants to make Filecoin more useful.
Notaries are distributed all over the world and have a wide range of focuses, namely web3 services, scientific and historical datasets, media content, etc. They are the fiduciaries of the network and should perform the necessary due diligence to identify valuable customers and bring them into the network. They will have a significant impact on the data stored on Filecoin, and Filecoin officials welcome the community to monitor their progress in improving network efficiency.
By putting power in the hands of clients, their needs will determine the goods and services Filecoin produces. This will accelerate the development of products in the ecosystem, improve storage methods for customers, and enhance Filecoin network compatibility. This also makes it easier for small and medium miners to obtain mining rewards, thereby promoting the coordinated development of the Filecoin network.
Please pay attention to the latest progress
Over the past few months, the Filecoin Plus community has selected the first notaries to serve the ecosystem. This is done by developing a comprehensive application process and scoring criteria system that is iterated and tested on initial notarization applications. About 1.5PiB DataCap has now been awarded to 14 Notaries to distribute to different types of clients.
Beyond that, the community has been actively involved in governance issues and discussions, from establishing a transparent dispute and audit framework, to providing on-chain monitoring and analysis tools. The Filecoin Plus initiative is at the forefront of decentralized governance, with all operations and processes openly formulated by community members and watched by global governance researchers. Filecoin Plus is a fully coordinated, community-governed initiative that facilitates optimal utilization of the storage available on the network.
Thank you to the community members who have participated in the program so far, whether by raising questions and suggestions in the notary governance; participating in the dialogue of our bi-weekly governance meeting; or applying to eventually become a notary.
Welcome to join us to build a new future
If you are interested in receiving DataCap via Datacoin for your storage needs, a list of valid notaries can be found on Filecoin Plus. DataCap requests may be submitted, including instructions on how to use the DataCap once an assignment has been received.
At the same time, community governance calls will start every other Tuesday, and everyone is welcome to join.
