How much do you know about the storage mining coin project?

In 2020, all walks of life were depressed, and the cryptocurrency world was also deserted. A detailed inventory of what was hot in 2020 found that the storage concept that had been hovering outside the cryptocurrency world was hot. On the one hand, there was really nothing to hype about, and on the other hand, the public chain that could lead the cryptocurrency world forward really had no stories to tell. Technological innovation was really boring. The solution to the impossible triangle has been called for many years, but it is still the same. Only the disrupted [Ethereum], technological progress and ecological business continued to prosper, which also gave the cryptocurrency world some hope. The continued high-level and wide fluctuations of the big pie actually provided a good environment for the cryptocurrency world.

Is it a bear market now?

Not necessarily. There has never been a bear market in which BTC has been so strong.

Is it a bull market now?

Not entirely true. Without projects, technological innovation, or FOMO sentiment in the secondary market, the storage circle, which has always been non-mainstream, may add fuel to the cryptocurrency market this year.

At present, the hot topics in the market are nothing more than the upcoming launch of Filecoin mining and the cross-chain star project Polkadot. Before the new trend, let’s take stock of several mining coins in the storage sector.

1. Filecoin

Filecoin (FIL), the storage project Filecoin is a leading project. It is reported that it will be officially mined from July 20 to August 20. If we count from the first version of the white paper, 6 years have passed. The reason why Filecoin has a consensus is also related to the IPFS project that the protocol laboratory has been deeply involved in for many years. In fact, the circle has always used IPFS instead of the name of the Filecoin project. From 2014 to 2017, the public chain was still in the wilderness era, and Filecoin had no basic technology to learn from. From the initially abandoned white paper, we can see that 2017 was the year of Filecoin's rebirth. When the currency circle was in its heyday, Filecoin obtained more than 250 million US dollars in financing and received a very high valuation, which also laid the foundation for Filecoin's popularity this year. Although the Filecoin mainnet has not yet been launched, the storage circle has not been idle. At least 3 rounds of mining machine bubbles have been eliminated. We temporarily understand that before mining, the update and elimination of three generations of mining machines have been completed. As Filecoin is about to be launched, everyone has discovered that it is not entirely a storage project. Hard disks are not the magic weapon to win the competition. Powerful mining pool technology and computing power are the key. Early evangelists have made wedding clothes for today's emerging mining pools. With high valuations, 6 years of ecological education, POST technology innovation, and the natural landing of storage and business, Filecoin will not lack popularity or miners, becoming the hot spot of this year. There is no doubt that in Fil mining, where storage and computing power resources are seriously oversupplied, whether miners can make money depends on their ability.

Official website: https://filecoin.io

2. Lambda

Lambda (LAMB), according to official news, mining will be available from July 15 to July 30. Lambda became popular all over the world in 2019, and the number of participants in the domestic secondary market set a record. You can see news about Lambda everywhere. It is either on the way to the exchange or on the way to increase. The main reason is that the secondary market performance is too eye-catching, from 0.006U to nearly 0.3U, with nearly 50 exchanges, good trading depth, and violent price fluctuations. It currently stays around 0.018. Participating in the Lambda ecosystem basically makes a lot of money, otherwise it loses a lot, ice and fire. Fortunately, Lambda is a technical project that has been doing technology output. It is known as the Chinese version of Filecoin. Now it will go online ahead of Filecoin for storage mining. Lambda also uses POST proof, but it is quite different from Filecoin. It does not have the computing power of Filecoin, but the good news for miners is that it does not need to rely on powerful computing power, and ordinary PC servers can basically run it. Currently, the storage community is focusing on Filecoin, so naturally the attention has shifted. However, it is also because no one is digging for it that the opportunity to make some money has come. What if we have to go through the old path of the secondary market again? Recently, an X standard protocol for issuing assets has been released. I understand that it is a function of issuing a POC chain with one click. Of course, there must be businesses based on this protocol. The official also announced a cooperative project, Prometeus data trading business.

Official website: http://lambdastorage.com

3. SIA

SIA (SC), SIA is an old project that has been mining. It started in 2014, and everyone can mine with a host. I have always admired SIA. It is not arrogant or impatient, and it has been working at a linear speed. There are always new things every year. It can always keep up with every wave of storage hot spots. Because of the old storage concept, there are also dealers in it. If you want it to be popular, it can pull you up to the sky. Of course, the dealer wants to make money, and it will go back quickly. If you can keep up with the pace, you can make money. Since entering the ASIC stage, SIA has nothing to do with storage miners. Ordinary machines can basically not mine. The SIA business is about the privacy of personal or commercial data. It is not as grand as the Filecoin story. It is basically a niche project. The total storage capacity is less than 2PB. In fact, the current mining cost is mainly in the investment in Asic hardware.

Official website: https://sia.tech

4. Storj

STORJ has been mining. STORJ is not a blockchain project in the strict sense. The so-called main network is a software architecture of a commercial company. There is no such thing as mining. In fact, the so-called miners provide storage capacity to a commercial company, and the commercial company uses STORJ's ERC20 token to settle fees. However, the ability of STORJ should not be underestimated. It has been updated to 3 versions. Each upgrade brings new technological breakthroughs. Perhaps Storj represents another blockchain landing solution, that is, the commercial organization form of blockchain and the clearing and settlement solution of tokens. At present, Storj can be mined using ordinary hard disk mining machines, but it is impossible to expand the hard disk capacity indefinitely due to commercial needs.

Official website: https://storj.io

5. Arweave AR

Arweave (AR) can already be mined. Arweave is a very interesting project. It is very different from the current storage projects in terms of economic model and technical model. Its positioning is a permanent storage of data, that is, permanent storage with a one-time payment. Based on this model, the consensus adopts the POA algorithm, that is, Proof of Access, which means that when a block is generated, a block needs to be randomly verified and then participate in PoW. Therefore, Arweave is also a mixed mining, which requires computing resources for PoW. Of course, storage space is also necessary. The more historical blocks are saved, the higher the probability. However, the use of storage space depends entirely on the amount of data uploaded. Uploading requires consumption of AR, that is, brushing orders is very costly. Therefore, in theory, it does not make much sense to expand your own storage disk space infinitely. It is also a niche storage mining coin because it cannot accommodate too much storage computing power. However, this project has incubated hundreds of applications very early. Whether it is used or not, at least the ecosystem looks closed. There are relatively few people participating in China. Perhaps it is an opportunity. Many exchanges will be launched this year.

Official website: https://www.arweave.org