Q&A about MathWallet Filecoin Cloud Mining presale

Q1: What is Filecoin?

InterPlanetary File System (IPFS) is a globally oriented, point-to-point distributed version of the File System aimed at complementing (or even replacing) the Hypertext Transfer Protocol (HTTP) that currently dominates the Internet by connecting all computing devices with the same File System.The principle is to replace domain-based addresses with content-based addresses, that is, users are looking for content stored somewhere other than an address, and do not need to verify the identity of the sender, but only need to verify the hash of the content, which can make web pages faster, more secure, more robust, and more durable. Filecoin is the incentive layer on IPFS, which builds a decentralized storage market on IPFS through token incentive mode.

Q2: Fundamental mining parameters and technical support on mining power sales?

CPU 36 Core Intel processor
Internal storage 512 G
Hardware 144 T Seagate SAS disk
Acceleration system and software 1475 customized
Operation system Ubentu system

*The basic mining machine and technical support provided by 1475

Q3: Background of 1475 team

1475 was founded in May 2018. Its core members include big data and AI algorithm experts from Baidu, Accenture, Google, UnionPay and other companies, as well as hardware experts from Intel who have been in the business for 20 years. The 1475 team combines a group of industrial experts who are deeply involved in IPFS/Filecoin to provide professional distributed storage solutions based on IPFS networks.1475 Team recived investment from HashKey Capital, Distributed Capital and Immer Capital in April 2020.

Q4: What are the strengths of 1475 Team?

The first explosive block unofficial node; The periodical block producing rate of 1475 is as high as 100%; The number of 1475 blocks is the top 1 in the whole network; The most amount of token obtained in the whole network; 1475 took the lead in the Cloud Mining list.

Q5: The principle of Filecoin Cloud Mining?

FIL used PoRep+PoSt to verify the contributions of the miners. Under Filecoin’s incentive model, the storage market and retrieval market are constructed. Miners receive FIL tokens paid by the user by providing storage and retrieval services. Block rewards and service value will actually be distributed to the miners who provide stable and efficient storage space, efficient and fast file routing, encryption and copy, and actually generate service value.

FIL’s mining requires less cloud mining and electricity power than Bitcoin, but it requires high quality and stable computer room, network environment and hard disk performance. So the FIL economic model will also motivate miners to provide more efficient storage and file services to help IPFS protocol become a distributed, efficient and powerful data service infrastructure in the new generation of WEB3.0, 5G, and blockchain.

Q6: About the block rate of Filcoin?

The block rate of Filecoin depends on the proportion of effective cloud mining (effective storage data verified by network and go through Seal) possessed by the node in the whole network. Therefore, the higher the effective cloud mining of the node, the higher the block producing rate.The growth of effective cloud mining needs to go through the complex process of Seal (multiple encryption), so the speed of Seal in the early stage determines the final production efficiency.

Q7: What are the factors affecting the production?

Filecoin’s block  rate depends on the effective node cloud mining (effective storage) accounts for the proportion of entire network, and efficient cloud mining need computing resources to be accumulated slowly, so when it comes to the same time, effective cloud mining is the core parameter of mining revenue, for the investment return ratio, for core parameter is effective to calculate the cloud mining growth speed for every ten thousand RMB investment. The difference mainly depends on hardware configuration, optimization efficiency, mining machine price, etc

Q8: What is the estimated production?

The investment return ratio of cloud mining in this sales period of MathWallet is 4.2GB/H/W. In the early stage, when everyone’s hard disk capacity is not yet full, the daily block rate is equivalent to the growth rate of effective cloud mining on this node divided by the growth rate of effective cloud mining on the whole network. Therefore, the growth rate of effective cloud mining of the whole network can be evaluated (for example, assume the average speed of 80,000 machines in the whole network is 5GB/ hour, totaling 400,000g/hour), and the growth rate of this node (assume the growth rate of effective cloud mining is 800G/ hour), which is equivalent to 0.2% of the speed of whole network.  Suppose 400,000 Fil is distributed daily throughout the network, that node will receive 800Fil. Assuming that the total capacity of the cloud mining is 1440T, the daily yield per T is 0.55Fil. (The above data are for reference only)

Q9: The starting time of thecloud mining lending for this sale?

The cloud mining of this limited sale can participate in the hash power competition of the testnet reward program of 4 million FIL for three weeks, and the lease time will start from the mainnet official launch.

Q10: The distribution of testnet rewards?

Will be unlocked linearly and sent to the cloud account within 6 months after the launch of the mainnet.

Q11: How the will the Cloud Mining income be released?

Distribution cycle: Daily (expected daily at 00:00 UTC+8) to allocate the previous day’s Filecoin, subject to the final allocation settlement time of the mining pool)

Q12: Distribution model for FIL?

Q13: When is the mainnet will be launched?

At present, the official launch time is from 20th July to 20th August. The specific time is subject to the final announcement on the official website.

For more questions, please contact us on Telegram: https://t.me/mathwallet