Ten times the reward! Filecoin Plus Beta may be launched

Ten times the reward! Filecoin Plus Beta may be launched

On November 5, Filecoin officially released a new Filecoin Plus Beta draft on Slack. Based on Filecoin Plus, Filecoin Plus Beta makes the implementation of Filecoin Plus more specific and visual.

proposal

A Beta phase is proposed, during which we can see a notary instantiate and improve upon it. The Filecoin Foundation is appointed as the first notary to help develop guidelines for “reasonable” operations that future notaries can follow as an example.



Purpose

This beta testing period helped inform some important factors in implementing this mechanic:

1. The types of applications that Notaries will receive can be observed in practice and initial criteria for how Notaries should respond/allocate DataCaps can be created. While Notaries have discretion in how to make allocation decisions, the intention is to provide a frame of reference for “reasonable” due diligence.

2. Understand how much effort and due diligence a notary needs to put in to become a qualified notary.

3. Test notary tools and workflows to ensure the process for both clients and notaries is straightforward and operates as expected.

As an added benefit, this will allow us to notarize for our clients faster while we complete other parts of the process (e.g. onboarding more root key holders, improving the audit/dispute framework, etc.).


scope

The Filecoin Foundation will provide an initial application (like other notaries) describing how they intend to accept and process various types of client applications. This application will be scored before the next community governance call, and the scoring will be completed during the call. This beta period time frame will run through the exhaustion of DataCap, or until the community decides that the beta period is no longer necessary.

At the end of the testing period, the Filecoin Foundation will no longer make allocations unless they reapply and are approved again through community governance.



Comment

This proposal will be discussed at 1:00 a.m. on November 11. If you have any questions, please provide feedback.



Filecoin Plus is a practical solution to the technically challenging problem of verifying whether a specific dataset is available on an unlicensed, incentive-compatible, anonymous network. Filecoin Plus increases the network's available storage by trusting and authorizing some notaries to make honest transactions with storage customers.



Regarding Filecoin Plus, many miners have a question: data storage that has passed the notary's review will receive 10 times the computing power, so does that also mean that the required pledge is also 10 times?


In response to this, a member of Protocol Labs replied: Ten times the reward also means ten times the stake .



In fact, the fitting relationship between computing power and pledge is in line with the current official thinking about the internal balance mechanism of the Filecoin economic model . In the long run, the incentive mechanism of Filecoin Plus clearly shows the official incentive direction for valid data. The real and valid data on the chain is undoubtedly an important foundation for Filecoin to truly move towards commercial application, an important symbol that distinguishes Filecoin from pure mining projects, and one of the basic projects for the construction of the Filecoin ecosystem.


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