The first offline salon of 1475 was a complete success. Everything you care about is here!

Shawn

Founder of 1475 Fund

《1475 Investment Shift》

As a Chinese investor, no matter what opportunities appear in the market, everyone will rush in, and the blue ocean will immediately turn into a red ocean. However, in traditional industries, it takes a very long time to make a profit, so you will find that investing is getting harder and harder. In the more than 20 years of development of the Internet, this is a very difficult thing for new investors.

It is for this reason that I find blockchain different, especially in the current era when web3.0 is not far away from us. In my opinion, if Web3.0 wants to be actually implemented, the first thing to solve is the application problem of data, and the prerequisite for this is actually the availability of infrastructure.

Why do we see the application value of IPFS? In fact, after we did artificial intelligence and big data precision marketing, we found that although these projects are very good and popular, everything must be based on the preservation and circulation of data.

Let's review, the original network architecture of web2.0 cannot meet the existing data needs. Under the dual requirements of physical and geographical location, the liquidity cannot be met at all. However, IPFS can make data flow on a large scale on the surface of the Internet, giving data wings and flying freely.

At the same time, the second problem also emerged, which is data sharing. Why are we willing to share data and why are we willing to share the underlying servers? In fact, this is based on a consensus mechanism, and the blockchain cannot be tampered with, and smart contracts solve this problem. Filecoin solves the problem of sharing, which is why we chose IPFS\Filecoin.

Back to the blockchain, we will find that a large number of projects have emerged in the past two years, but these projects often do not have the value of real application. This situation still occurs because the data problem cannot be solved. We can see that whether it is Ethereum or BTC, the data on the chain is transactional data, and when it comes to specific business relationships and user behaviors, there is no way to put it on the chain.

To truly achieve decentralized storage, it is necessary to: Decentralized storage: public chain, storage sharing, infrastructure, and ecological support, four-in-one, both virtual and real.

Hard disk broadband sharing application:

1. Faster speed, better experience: multiple nearby nodes download at the same time

2. Lower cost and more stable service: avoid single node failure and get rid of backbone network dependence

3. More open and more participation: Everyone can participate and idle resources can be fully mobilized

4. More secure: security of data loss and data privacy protection

Big Data Infrastructure:

1. To realize the value of big data, it needs to be widely shared and deeply mined to complete the business closed loop

2. Sharing of big data requires a unified data structure and interactive data interface

3. The storage of big data requires a decentralized, tamper-proof, and privacy-protected storage warehouse

4. The access of big data should be processed based on the logical structure to achieve double decoupling: the upper call layer and the lower physical layer

5. The use of big data should have clear ownership, standardized use, free contracts, and market pricing

6. The ownership of the value of big data should be confirmed to the source of the data ownership, so as to stimulate the explosion of data

7. The data should be large and sufficient to form a virtual mirror of the real world, so as to fully connect the two worlds.

Blockchain ecosystem support:

1. Trigger events/oracle of on-chain contracts (a large amount of data cross-validation to confirm trigger events)

2. Ecological tokens are not only a value carrier for storage and bandwidth sharing, but also a value medium for file/data/copyright transactions

3. Based on ecological tokens and smart contracts, ensure that big data transactions are transparent, trustworthy, and avoid exposure.

The filecoin project is a project that connects the past and the future. From the perspective of layer-by-layer application, its implementation is very easy to achieve, and its risks will be much smaller. As the only Filecoin project company that has received top international investment, 1475 will continue to deploy in the ecosystem.

Andy

1475VP

《Filecoin Ecosystem Gold Mine》

I started investing in Internet and blockchain projects in 2012. Friends who experienced the ICO boom in 2017 know how popular blockchain projects are, but in 2018, there was a sharp decline. At this time, I was also thinking about where the direction of blockchain is. At this time, many people would say that they should pay attention to exchanges, and then pay attention to mining.

But in fact, after combining it with big data, we truly discovered that the growth of storage requirements is the key to the future, and it was at this time that the Filecoin project was discovered.

Next, I will introduce Filecoin to you based on the current situation. First, let me introduce the similarities and differences between the two projects, IPFS and Filecoin. They are both developed by Protocol Labs. IPFS was launched in 2015, and Filecoin is actually a concept that was only mentioned in 2017 and will be launched in the near future. IPFS itself is a communication protocol and has nothing to do with the blockchain itself. Filecoin is the incentive layer of IPFS and is a real blockchain project.

So why is Filecoin worth our attention? Many people also know that Filecoin is developed by Protocol Labs in the United States. Through the PoST and PoRep mechanisms, it ensures the storage security of files and ensures the long-term preservation of files through a verifiable mechanism. Most of the members of the Fielcoin project development team are from Stanford University in the United States. It is incubated by the world's top incubator YC. The investment institutions are even more giants, including Sequoia Capital, Stanford University, Horowitz Fund, Winklevoss Brothers Fund, etc., and the amount of funds raised is as high as 257 million US dollars.

Only after a large amount of capital is injected can subsequent capital continue to join and promote the continuous development of the ecosystem.

Secondly, its popularity has now surpassed Ethereum, and may be slightly lower than Bitcoin. It has now cooperated with well-known teams for development. Filecoin has established cooperation with well-known development teams such as the Ethereum Foundation and the Zcash team.

From this picture, we can see that the ecosystem now supports social software, playback platforms, film and television documents, etc. No one needs to access the centralized network anymore, and can watch and download directly through this node in the distributed network. This can be done at any node, which will provide a better overall experience and better resource efficiency.

Nowadays, many well-known companies are developing based on IPFS, such as Alibaba Cloud, JD Cloud, etc. in China. They have set up their own dedicated technical teams to research IPFS. When it comes to a certain point in time, you will find that world-renowned companies are paying attention to IPFS\Filecoin. They will all support the development of technology to a certain extent. At the same time, the implementation of applications will make the entire protocol more powerful.

The most intuitive feeling is that we no longer have to be afraid of 404 errors. Many times when we visit a website or check information, information will be lost, but this will no longer happen in the IPFS network. Blockchain and Filecoin are related to consensus, especially in the early stage when there is no commercial implementation. Consensus is valuable and important. In fact, everyone knows that after reaching such a consensus, the price of Bitcoin is around 60,000 to 70,000 yuan.

In Filecoin, it is commercially feasible and the project itself is valuable, not just a concept. From the consensus point of view, there are already 200 mining machine manufacturers, with sales reaching more than 10 billion, and the number of people covered has reached 5 million. From mining circle people to currency circle and non-circle people, Filecoin is breaking the circle. Although both are blockchain projects, there are obvious differences between Filecoin and Bitcoin.

In terms of mining form, Bitcoin mining is computing mining while Filecoin is storage mining.

In terms of core elements, Bitcoin uses dedicated chips, while Filecoin relies more on the software's algorithm architecture.

In terms of resource consumption, Bitcoin mining requires a lot of electricity, but in Filecoin mining, electricity is not the real key, but the dependence on the backbone network.

In terms of mining logic, Bitcoin uses a consensus mechanism, while Filecoin has realizable commercial value in addition to consensus.

So what is the logic and process of Filecoin mining? First, you need to get orders in the market and store data locally. This process is extremely complicated and requires the support of the network and algorithms. After the complex encryption, verification is required, which is obviously different from Bitcoin. This verification is what we often call post-time-space proof verification, and only then can you get the block reward.

I believe that after the mainnet is launched and the economic model is determined, it will be a great benefit to the future ecology. I believe everyone knows that the big miner test competition that the whole network is paying close attention to will start on August 3. This competition will last for three weeks. At the same time, we will prepare for the mainnet launch in one week after the competition. In fact, this is what we are most concerned about at the moment, to prepare for the miner test.

If calculated based on the current futures price, the reward will exceed 520 million, but there are only more than 10,000 machines in the market that can access the node, so you can imagine how powerful the bonus is. If we look at the current results, our algorithm can be more than double the industry average, so we can understand how much the official attaches importance to this large miner test and how generous the reward is. Many people are asking when is the best time to participate in Filecoin. In fact, I tell you that it is now.

Simon686

1475 CEO

1475 Origin and Turning Point

Before we start, let me ask you a question: Who would put a camera in their bedroom? When the unlocking and encryption are from the same manufacturer, there is actually a pair of eyes behind your data. Even if this pair of eyes is fair enough, he will commercialize your data. Just like the current precision marketing of big data, he will commercialize your data. The same data also has a fatal problem, that is, hackers and intrusion. But IPFS can solve everyone's data privacy and security issues.

The reason why I mentioned this issue is that when we were starting our first business, in order to solve a lot of data storage security and customer privacy issues, we read a lot of literature to explore solutions, and finally discovered the IPFS protocol, which can solve centralized failures and make data storage safer and longer-lasting. This is the beginning of my relationship with IPFS.

As a peer-to-peer distributed file system, IPFS will become the data storage basis for all blockchain projects in the future.

In the world of ipfs, data is distributed to different servers and is completely unfamiliar between different servers.

Customer data is broken down into multiple fragments and sent to different storage miners, thereby achieving decentralization and meeting data security requirements.

In fact, at the beginning of the entrepreneurial process, UnionPay wanted to do blockchain, but a technical problem arose in the process. Although there are tens of millions of merchants, it is very difficult to put these data on the chain. The amount of data is too large. In fact, we can see from Bitcoin that it can only store some transaction information on the chain. Even if the data is extremely valuable, it cannot have a large storage to collect this information. However, IPFS/Filecoin solves this problem.

In fact, our journey has not been as easy as other companies. From May 2018 to the second half of 2019, our company was actually struggling to support itself. In fact, this is related to the company's route. We have always taken technology as the core, so we need to invest a lot in technology to break through the algorithm. It is precisely because of these huge investments that we have not been doing well. It was not until the second half of 2019 that the official began to conduct tests and competitions. At this time, we found that the algorithm and technology were already very different. It was our early investment that led to our huge advantage compared with others. After that, some capital came to our company and said that your technology is very powerful and I want to invest some money. The company has been established for two years and one month. In fact, our company can survive. We really have to thank the official open source code for releasing the test competition, and more capital has taken a fancy to us and persisted.

Later, when the 1475 mining machine Pro appeared, some customers found us and believed in us. Although we rarely advertised in the market, the service of our marketing department partners was really great. Many people knew us and might just say that we were very good at finding official bugs. In fact, this is also because we have not done enough in this regard. This salon is also the first offline event held by 1475. We also hope that the guests will feel that this salon is worthwhile and full of gains when they leave.

After the launch of the first phase of the test network in 2019, the company's development and deployment went very smoothly. At that time, the ranking was relatively high, and it even always ranked first. In fact, our relationship with the official has always been very good, including my personal relationship with Why, because we appreciate each other in many technical exchanges, so our relationship is also very good. The second test network test can be regarded as confirming 1475's position in the industry.

Here, let me tell you about the story of the development network period. During the development network stage, the initial idea was: be low-key in life and high-profile in work. It is enough to do a good job in algorithm empowerment and get a share of the market. Therefore, in the process of developing the network, we have many node names, but we did not promote them. Later, because of the capital injection, we wanted to expand, serve more people, and enter this track. Together, we will build an ecosystem and improve the development of Filecoin. This is how 1475 came about. Now, to be honest, the development speed of 1475 is so fast that it has exceeded my expectations. The name 1475 was actually hyped up by the official, but this is also because our achievements are indeed here. We also hope that we can continue to make the 1475 brand bigger and stronger under the gradual optimization of the algorithm.

Flora

1475 COO

《Build an ecosystem together and share the benefits》

I have been in the cryptocurrency circle for a long time. At first, I had a question in my mind: Why do I want to do the mining project? Isn't it good to speculate in cryptocurrencies? Because it is too easy to make money by speculating in cryptocurrencies. I can make money in a few minutes. Especially contracts and leverage, but the more you know about the blockchain field, the more you will find that participating in secondary market investment, including speculating in cryptocurrencies on exchanges, is really too risky. Just like gambling, 9 out of 10 bets are lost, so what kind of identity should we join in to enjoy the dividends we deserve?

Some people say to be a miner, but what should miners mine? Especially in the track established by the 80/20 rule, most of the money flows into the hands of a small number of people, and even large mine owners can eat up some small miners. So when we are looking for a project, the first thing you need to look at is its magnitude, whether it can reach the level of Bitcoin or Ethereum, and the second is whether it is a technical project, is it a real application of the underlying technology of blockchain? So when we look around, we can only see the Ipfs/Filecoin project.

In fact, for our project, the 1475pro supercomputing version of the mining machine is of great significance to us. If Filecoin is a battlefield, then the mining machine is our soldier, and our mining machine has also experienced two battles with us.

The first battle was our battle of fame, and it was also the origin of our name 1475. During the first test period, we were the first unofficial node to break through 512GB and make the list. If you have studied the track for a long time, you should understand that the official set a threshold during the first test period. If you do not exceed 512GB, you cannot make the list. And we got the first place. The second achievement is that we are the first to have a block explosion, the first unofficial node with income, and we are also the first node whose computing power exceeds the official node and ranks first in the computing power list.

The second battle was a battle for our position. During the second test, our mining machines reached an industry-leading level. During this period, everyone's enthusiasm for Filecoin has increased significantly. At that time, our node was t01102, which is also the most familiar node. At this time, we mined 30.3% of the coins in the entire network, and we also exited the test with the first place at that time. In fact, at the beginning, we found in our block browser that our computing power may be ranked second or third, but our number of blocks and coins are the first in the entire network. In fact, we only had 97 1475 supercomputers connected at that time, but we got such an excellent result. On average, each machine can get about 500 reward coins every day in these 20 days.

However, many people have such a doubt: I am not a technical person, how can I view my reward coins? In fact, in response to this, we have developed a special small program to distribute the coins to everyone in a timely manner.

Our mini program now has more than 10 users. There are about 5 million people following this track, which means that the number of people following 1475 in the entire track has exceeded 2%, which is a number worthy of praise in any industry.

So what is the difference between the 1475 mining machine and other mining machines, and what are its advantages?

In fact, this can be seen from the input-output ratio that we have always emphasized.

If miners are real estate developers, then if the hard drive has 100T of storage space, it is equivalent to having 100 empty rooms. However, no matter how well the houses are decorated, there will be no income if they cannot be rented out.

In order to get the first mining bonus, the prerequisite is to rent out the house, that is, whether there is valid data verified by the entire network stored in the hard disk.

The improvement of effective computing power is usually determined by the basic hardware level, core algorithms, and deep understanding of IPFS/Filecoin, so don’t just look at the storage size, effective computing power is the real core.

The size of the hard disk is not really the key to Filecoin. In fact, the mining machine we bought is equivalent to an empty basin. There is no water in it. The size of the hard disk is just the size of the basin. Only when water actually flows in, the profit will be reflected.

Only powerful technology can increase the speed of water flow.

It was at 18:00 last Saturday, July 18th, that Mr. Yang Ming posted an exciting message in the group. Our input-output ratio has increased by 20%, reaching 5GB per hour and 10,000 yuan. For the time being, there is no other company in the industry that can reach our technical level.

We have now made more than 60 optimizations to the underlying code, and it is precisely because of continuous updates and optimizations that we have achieved today's results.

In addition to friends who buy mining machines to participate, some traditional miners who want to join Filecoin mining can connect to our mining pool. The 1475 mining pool can be regarded as the only real Filecoin mining pool in the entire network. Due to the iteration of the official algorithm, the mining machines purchased before 2019 are basically unable to mine. So what can we do? You can connect to the 1475 mining pool.

Some friends have very good mining equipment, but they cannot mine effectively using the official open source algorithm. If you want to maximize the performance of the machine, connecting to our mining pool is the best choice. And we know that the most important thing in Filecoin mining is zero-knowledge proof, but zero-knowledge proof is a very GPU-intensive job. If you choose to do it yourself, you must install 4 2080TI graphics cards, which is very expensive, nearly 30,000 yuan. But if you use our osp system, you only need to pay per time, 4 yuan each time.

Bruce

1475 Executive Partner

1475 Present and Future

In the second half of 2018, we had some followers in this field, including some investors who had studied Filecoin for a long time. Their participation became the foundation for our development. Because they would spare no effort to help us whenever we needed them. It was only in 2019 that we joined the miners, because in the previous year or year and a half, we were always studying algorithms and investing in them on a large scale. In the current process, we have gradually moved from miners to platforms, started to build an ecosystem, and started to help large and small miners build the entire Filecoin ecosystem together.

It was also from this period that our team grew from 4 people to 60 people.

Nowadays, we are developing very fast. Many new partners feel that they can't keep up. However, it usually only takes 1 to 2 weeks of working with colleagues around them to grow rapidly. We are a startup company, a positive and fast-growing startup company.

In addition to the company's development history, the most important thing for us now is actually the 5PB large miner test. The previous reward was 4 million, and now it has increased by 100,000 to 4.1 million.

However, I have to explain to investors here that the number of machines that can participate in the 5pp large miner test is very limited, so there is a chance before July 25, but it cannot be guaranteed after that.

In the 5PB big miner competition, 1475 has gathered all the strength of the team and deployed in all continents around the world, and now it has reached the final stage. At a time when the current economic model has not yet been established, the 4.1 million reward coins for the 5PB big miner test may be the easiest reward to understand.

In the future development of 1475, I believe that the future strategic planning of 1475 will be composed of four key words: scale, efficiency, security, and ecology. At the same time, I believe that 1475 will definitely be present in the Filecoin ecological project.