What impact will the FIP14 proposal have on the Filecoin network?

According to the previous regulations of the official website, Filecoin V1 proof sectors (sectors sealed before November 28, Beijing time) cannot be renewed, because there are certain security risks in the sectors of the V1 proof algorithm. After the sector expires, the sector life cycle will end.

However, after research, the official team of Filecoin found that the design cost of developing the corresponding hardware to attack the v1 proof algorithm vulnerability can reach about 540 million US dollars. Under the current Filecoin network parameters, it is equivalent to the income of running on a 120pib node for three years.

According to Filecoin's official estimate, it may take another 1-2 years to manufacture the hardware. Therefore, it is impractical to attack the network within 1-2 years by customizing hardware to target the vulnerabilities of the V1 proof algorithm.

If Filecoin V1 proves that sectors cannot be renewed, then by April and May, many miners will experience a loss of computing power. Given the current active Filecoin network, the stake and gas costs required to package computing power for miners are very large, which will also cause network congestion.

Therefore, taking all factors into consideration, the Filecoin V1 proof sector can be expanded after its expiration, which will be conducive to the stable and healthy development of the Filecoin network.