Dear MW miners and fans:
At present, the start-up period of MW main network has entered. In the past two years, we have made a lot of tests and assessments on the decentralized storage projects such as filecoin, AR, SIA, etc. at present, we have decided to make major upgrade for MW main network. The economic model of MW main network will be operated by referring to the economic model of filecoin, but it is obviously different in implementation. The relevant information is as follows:
As we all know, both MW and filecoin are the incentive layer of IPFS protocol, and both use IPFS protocol as the way of file transmission and network communication. However, there are great differences in the direction of mining technology. Filecoin uses space-time proof and replication proof method, while MW uses hardware node declaration, operating environment and dpos pledge weight scoring method, After one year’s test network stage, we think that the economic model of filecoin is more suitable for the operation of IPFS protocol. Combined with the current problems of filecoin, market environment and other factors, we decided to implement the economic model of MW mining with reference to filecoin.
Filecoin problems:
1. As for the legitimacy in China, the data storage of filecoin is controlled by American companies and relevant institutions. We think it is impossible to implement its business plan in China, but the more embarrassing thing is that 90% of the miners and equipment are in China.
2. At present, the effective data of filecoin only accounts for 2–3% of the total network capacity, and the rest of the data are garbage data.
3. As for the identification of valid data, the current valid data of filecoin is determined by the network notaries, and some of these notaries are overseas.
4. We estimate that the circulating token in the market in the next 2–3 months can not meet the delivery demand of the mining machinery company.
5. The issue of official market selling pressure.
MW opportunities:
1. The testnet’s currency holding addresses have reached 26,000 (as of April 2021), and the testnet’s token will be used as the key to open the mainnet for the first batch of nodes to start and pre-stake.
2. More than 40 of filecoin manufacturers, service providers and community support are MW’s early investors, including a number of filecoin head miners and manufacturers.
3. MW has good government relations and resources. Now it is a member of the global network storage industry association, a member of the International Archives Council, and a Huawei cloud partner.
4. MW is suitable for China’s effective data notary mechanism, which greatly increases the proportion of effective data and realizes commercial storage.
5. There is no official pressure.
Later, we will release MW’s notary mechanism and complete economic model, which is the same as the city node originally envisioned by MW, and will better apply blockchain + distributed storage technology to the future society to avoid data centralization, abuse and privacy, etc. Risk, better service to Chinese enterprises and individuals.
Thank you for your support!
Mirror World Foundation (Singapore)
