IPFS and FileCoin

Learning all about IPFS and FileCoin

First of all I gained some experience with the IPFS concepts and tools because of my personal site setup which I now also mirror on the IPFS network.

This works really well, but in order to keep the site on the IPFS network it does not suffice to use "pinning" services like Infuria and Pinata.cloud; so it makes sense for me to also have a look at the FileCoin project.

It does make sense that if we would rely on other people's hard-drives for hosting and sharing content in the peer-to-peer Web that there were to be some way of making it worthwile of everyone. How exactly to achieve is not something I can decide. Filecoin is probably one of more mature ideas that I have seen in this space.

First learning about the concepts obviously. And there are a lot of new tech things to learn about and digest.

Resources

I have absolutely no ambitions to become a miner however at this time. I don't have the required hardware or network or even time for it. If I did get involved with Filecoin it would be as a "client" to have my data stored somewhere "safe".

In comparison hosting your content on Backblaze or even Onedrive is way more easier to start with and has a relatively good price for the service you get. So making a switch to a fully decentralized storage solution would have to have very big advantages over the current service offerings. And unless you're Lupin and thus completely paranoid of any corporation control, it would not be worth the time and effort.

So making good "deals" on the Filecoin system seems like a challenge. Hoping to learn more about this in the next days and weeks.

Updates

2021-02-21

Got hold-up because of learning about other crypto tech like "Proof-of-Stake" and "Cardano". All interesting concepts projects, which I believe are way more useful than Bitcoin which only holds "value" and nothing else. Ethereum is way more valuable in the sense that it empowers a decentralized universe of applications.

And IPFS and FileCoin are valuable in that sense as well as a support for the decentralized Web.

So that's my motivation in why I am spending some time in learning about these concepts.

Currently re-doing the Tutorial for "Verifying Storage on Filecoin"

Learning about "Proof of Stake", "Proof of Replication" and "Proof of Spacetime", but I'm not pretending here that I really understand what this all really means. If only I had paid more attention to my highschool math classes twenty so years ago... At least I#m trying here.

I also feel like I'm keep trying to catch up with everyone who is already three years ahead on these things somehow. ugh.

2021-03-15

Post-poning learning and testing IPFS until further notice. No need for it at the moment...

2021-03-16

Go introduced today to "Proof of Coverage". The Helium Hotspot project introduced this concept.

Running a piece of hardware as a hotspot connected to the Internet functions is also running a crypto miner at the same time and earns the miner HNT in certain conditions.

The Helium blockchain uses a novel work algorithm called “Proof of Coverage” (PoC) to verify that Hotspots are located where they claim. Put another way, PoC tries to verify, on an ongoing basis, that Hotspots are honestly representing their location and the wireless network coverage they are creating from that location.

I believe the challenge with the Helium Hotspot project is that it's up to you to verify the legality of providing Internet access in your community. AFAIK (not a lawyer or legal advice) in Germany, giving people access to the Internet still can make you responsible for what people will do online using your Internet connection. And you're starting a self-employed business with putting one of these hotspots up as you're making regular "money" off of it. So you're going to have to pay taxes whenever you convert the hard-earned HNT to Euro or another fungible currency.

So consider things carefully before putting one of these - cool looking - devices "on the office window" - as is claimed in bold lettering on the Helium homepage. Nevertheless, this is a interesting use-case of applying blockchain in IOT and the new economy that is created with Web 3.0 technology. And if you're already self-employed and own a coffee shop or other place where people gather, it could be a nice way to get some extra income - once the COVID lockdowns are gone obviously.

Better read the docs before spending €450 on those fancy hardware hotspots.


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