No. 1 on the hot search list, eight reasons why Filecoin continues to be popular!

It is undeniable that the popularity of FIL continues to rise!

Filecoin ranked first on the hot search list of non-small accounts.

We can also see from the WeChat search index that FIL’s WeChat search index is almost 3 times that of ETH and 2 times that of BTC.

So, what happened to FIL recently that made FIL’s popularity continue to rise?

Filecoin production cut on April 15

According to Filecoin's economic model, all FIL received by Filecoin SAFT holders are subject to 6-month, 1-year, 2-year and 3-year linear lock-up terms. Starting from the launch on October 15, 2020, most purchased SAFT tokens will be unlocked linearly within 3 years. Therefore, starting from the launch of the mainnet, the first phase of SAFT's 6-month linear release shares will expire on April 15.

That is, the Filecoin network will reduce production on April 15. After April 15, the daily FIL production is expected to decrease by 43.2%. This may push the FIL supply and demand market to a "supply is less than demand" market.

Grayscale officially launches FIL Trust

On March 17, Grayscale, the largest Bitcoin holder, launched five new trust products, FIL being one of them . Grayscale officially launched a trust product for FIL . And according to the data, Grayscale has been increasing its holdings of FIL.

Filecoin can carry the storage of NFT

Non-fungible tokens (NFTs) are considered to be the hotspot of DeFi and have become popular again and again. NFTs themselves also store certain data. So, at a time when blockchain cannot be expanded well, where is the data on NFTs stored?

As Juan said on Twitter, "NFTs that are not on IPFS are not your NFTs." Both IPFS and the distributed storage public chain Filecoin have the ability and capital to become the underlying infrastructure of NFTs. In fact, according to the official weekly report, we can also see that today's IPFS & Filecoin are already actively cooperating with NFT projects.

When Filecoin+NFT, this expands the space of Filecoin to a broader extent.

FIP-14 Proposal Passed

The main content of the Filecoin FIP-14 proposal is to "enable miners to extend the life cycle of any V1 proof sector to a maximum of 540 days", that is , sectors upgraded on November 24, 2020 can be renewed to 540 days for free, which means that even if a 180-day or 360-day sector was previously selected, it can be renewed.

The life cycle of a sector can be renewed, which means that FIL will not be released in large quantities due to the end of the sector life cycle, which is conducive to the Filecoin network continuing to maintain a deflationary model of "supply exceeding demand".

Korean and Hong Kong media reports on IPFS/Filecoin

Recently, Hong Kong media and South Korean media have reported on IPFS & Filecoin.

Korean media reports

Hong Kong media reports

More companies/funds entering the market

Tao Paipai announced that they will use IPFS to store their photos; The9 announced the signing of a Filecoin mining machine cooperation framework agreement worth US$100 million, purchasing Filecoin mining machine servers and technical services in cash; Xinyuan Technology (300472) announced that it has signed a 580 million yuan distributed storage center project contract; Hisaishi has basically officially launched a special fund for digital assets including FIL.

Chainlink and Filecoin Ecosystem Integration

Filecoin has partnered with Chainlink, an industry-leading decentralized oracle solution, to enable bidirectional data transmission between the Filecoin network and smart contract blockchains such as Ethereum.

The integration of Chainlink and the Filecoin ecosystem will enable a series of unprecedented two-way smart contract functions. For example, Chainlink can transmit encrypted verification data on Filecoin to an external smart contract system and trigger the execution of on-chain applications; or trigger smart contracts to automatically store data on Filecoin.

Livepeer x Filecoin Joint Mining Pilot

Livepeer will work with Filecoin to launch a joint mining pilot, which means that Filecoin miners can become Livepeer video miners and continue to mine on the Filecoin network by storing transcoded video data.

Livepeer video miners are the backbone of the distributed video transcoding network, helping developers build adaptable video applications, while Filecoin miners are the backbone of the distributed storage network, ensuring that people can safely store and interact with data. In the future, the same group of miners can provide infrastructure for both networks, which will not only give miners more profit opportunities, but also bring technical and product opportunities to Web3 applications through the synergy of video transcoding and data storage.

Filecoin is an excellent player with all-round development. It not only wins the favor of investors, the trust of miners, and the support of the market, but also has an increasingly large ecosystem, more and more ecological users, and unparalleled technological advantages.

The distributed storage track has trillions of space. "The sea is wide enough for fish to leap, and the sky is high enough for birds to fly." I believe that with the joint efforts of the community, Filecoin will surely create new heights and glory again and again!