Today, I saw @jason_chen998 write about Irys, and I still remember the project and Arweave spraying each other a long time ago, in fact, what makes me more memorable is that Aunt Dovey's @primitivecrypto also voted, and everyone who 🤪🤪🤪 understands it.
It just so happened that I also needed to fill in the ambush list of unissued projects recently, and I took the time to do a little homework, so I will record it here.
In fact, Brother Jian's post is already very hardcore, and I try to explain my research results in easy-to-understand sentences.
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First of all@irys_xyz Although it comes from the Arweave ecosystem, it has evolved into an L1 chain built for future data needs, especially focusing on AI, IP (intellectual property) and the storage and application of high-value data.
📌 Why is it worth paying attention to?
AI feeds on data, but 95% of high-quality training data is now in the hands of five tech giants, severely limiting innovation.
None of the current mainstream blockchains (such as Filecoin, Arweave, and Ethereum) can really solve the problem of "data accessibility + intelligent processing":
-Filecoin is slow, and smart contracts can't read data.
-Arweave is expensive, the data is not verifiable, and it is centralized.
-Ethereum blobs data can only be stored for 18 days, and the Rollup project is getting higher and higher in order to compete for storage space.
~~~~~~~~~~
🚀 What did Irys do?
By integrating data storage + smart contract execution on a chain, data can not only be stored, but also "moved", and logic such as payment, authorization, and trigger mechanism can be directly built into the data.
For example, AI models can automatically pay for access to high-quality training data, and the data uploader directly benefits, creating a virtuous cycle.
I quoted a cartoon video from Irys, which illustrates the principle very vividly: data that could only be used for storage can now be played into a variety of music.
~~~~~~~~~~
💰 Where is the market potential?
I'm now more and more immune to pure storytelling VC projects, so I'm more concerned about whether a project has a market and whether it can land and make money.
One of the figures given by the project team is that the market size of high-quality data can reach $3 trillion, and Irys turns these "dormant assets" into programmable, tradable, and circulating resources.
In addition, IP (especially AI-generated content) also needs new ways to confirm and monetize copyrights, and Irys can work with other IP-focused protocols, such as @StoryProtocol, to eat this piece of the pie.
When Irys is combined with protocols such as Story Protocol that focus on IP management and monetization, it can form a stronger complete solution of data storage + equity tracking + automatic settlement.
~~~~~~~~~~~
There's a specific application scenario here that touched me a bit.
In fact, there is a lot of AI training data in music, novels, codes and other fields, and last time I talked to a friend who wrote novels, and she was very anxious that AI novels would replace most online cool writers in the future.
If in the future, the articles they write can solve the storage, pricing and execution through Irys, and the story solves the confirmation and tracking, and form a long-tail "automatic revenue generator" for creators after linkage, it will be really pretty dick.
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At last
With strong VC support and project data that once accounted for the majority of Arweave's data volume and transaction volume, Irys is still a relatively mature project. It can't just be seen as a stupid VC game game, I think it can still be seen at a glance.
Now it's up to you to see how you can get involved.,After all, I've been a little scared of being backlashed recently.,Let's see if we can find someone from the team to do further DD.。
Irys (✧ᴗ✧)
Data belongs on Irys.
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Filecoin
.@juanbenet from @protocollabs outlines Filecoin’s mission: to build a decentralized, efficient, and robust foundation for humanity’s information. With the storage layer in place, the focus is on onboarding real-world data and enabling compute. Worth watching👇
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FILLiquid
📢📢📢🚨🚨📢📢📢
📝 Reminder: 3 Ways to Earn More FIG on FILLiquid!
💰 Event 1: FIL Deposit Leaderboard Challenge
Deposit FIL into the FILLiquid DApp and climb the weekly and monthly leaderboards!
The more you deposit, the more FIG rewards you earn.
Leaderboard resets every Sunday
Event period: Until May 31st
📣 Event 2: Invite & Earn Challenge
Invite friends using your unique referral link.
As your referrals deposit FIL, your rank rises!
Rewards are based on the number of invitees and the total FIL they deposit.
Leaderboard resets every Sunday
Event period: Until May 31st
🌾 Event 3: Stake FIT, Earn FIG
Stake your FIT tokens to earn FIG rewards!
The more you stake, the more you earn.
Top stakers receive bonus rewards and exclusive farming incentives.
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Ali
#Filecoin $FIL is holding at the lower boundary of its channel, with the TD Sequential flashing a buy signal, hinting at a potential short-term rebound.
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FILLiquid
🌊 Chillin’ in the Filecoin pool at TOKEN2049 🐷
FILLIQUID brings the heat to Dubai with DeFi liquidity on chain.
FIG in hand, future in sight. 🚀
#FILLIQUID #TOKEN2049 #Filecoin #DeFi #FIGtoken
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Filecoin price performance in USD
The current price of Filecoin is $2.6310. Over the last 24 hours, Filecoin has decreased by -0.72%. It currently has a circulating supply of 663,557,104 FIL and a maximum supply of 1,959,503,393 FIL, giving it a fully diluted market cap of $1.75B. At present, the Filecoin coin holds the 35 position in market cap rankings. The Filecoin/USD price is updated in real-time.
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
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Filecoin, founded in 2014, is a peer-to-peer (P2P), open-source data storage network that uses blockchain technology to store files reliably and verifiably. Anyone needing to store their files or with storage space to spare can join and participate in the network. Consider it a cold storage, but instead of being owned by a single entity such as Google or Amazon, it is owned by everyone.
Data storage on Filecoin is entirely private; it is fully encrypted and secured, meaning no one, not even your storage provider, can read it. Additionally, Filecoin users do not need to worry about storage space because the network has a capacity of 2.5 billion gigabytes, 40 times the size of the internet.
Filecoin employs Proof of Replication (PoRep) and Proof of Spacetime (PoSt) rather than Proof of Stake (PoS). According to PoRep, miners will be compensated with FIL tokens if they can demonstrate that they received the cryptographically encoded data from the client. On the other hand, PoSt ensures that the data is kept for the time period specified in the client's contract.
Users typically pay with FIL tokens to store their files with storage providers. The price of storage on Filecoin is determined by the network's demand and supply for storage, and anyone can participate. Users are not limited to a small and defined set of storage providers but can store their files with any storage provider offering any deal available on the network. This enables users to store and access their files at extremely low prices.
Filecoin's native cryptocurrency, FIL, serves as a payment medium. Users pay FIL for storage services, and storage providers earn FIL units for staking storage space. The Filecoin blockchain immutably records FIL transactions as well as storage proofs generated by storage providers.
FIL price and tokenomics
Filecoin's ICO was one of the biggest successes in the blockchain industry, raising a total of $205.8 million. With an initial funding goal of $40 million, its initial token price was pegged at $5 when introduced into the market.
It has a maximum supply of 2 billion tokens with a market capitalization of $1.7 billion. In the fall of 2020, Filecoin organized Space Race to increase the network's data capacity by 400 pebibytes. 400 miners participated in the testnet phase and were awarded 3.5 million FIL tokens.
Filecoin is a deflationary asset with a certain amount of FIL burned with every transaction. The fees burned are sent to an irrevocable burn address to compensate for the network expenditure of resources. The idea is based on Ethereum's EIP1559.
About the founders
Juan Benet co-founded Filecoin in 2014 with the California-based company Protocol Labs, of which he is the CEO.
Benet is a Stanford University graduate with a master's degree in computer science. Before Filecoin, he was the co-founder and CTO of Loki Studios, a mobile gaming studio focused on developing location-aware games. He also founded Athena Academy, a non-profit private school in Palo Alto devoted to educating students with dyslexia.
According to official documents, Filecoin secured $205.8 million during one of the industry's largest funding rounds. The project even received backing from venture capitalists Sequoia and Andreessen Horowitz.
Filecoin highlights
First, the popular browser Brave added Filecoin to their wallet, exposing Filecoin to over 56 million Brave users. This integration helped in creating awareness among Brave users about Filecoin.
Second, instead of temporary file storage, Filecoin partnered with Lighthouse to offer their users permanent file storage within the Filecoin ecosystem, coming at a one-time cost. On Filecoin, files are removed if clients stop paying storage fees, so offering permanent file storage is essential for the most important files or irrefutable information, such as NFTs.
Next, the Filecoin Foundation recently donated $10 million worth of Filecoins (50,000 FIL tokens) to the Internet Archive after its founder joined the Filecoin Foundations board of advisors. The donation is aimed at broadening the Internet Archive's reach to help more people across the globe educate themselves.
Finally, Filecoin had a v16 network upgrade, codenamed Skyr, and switched to using the Wasm-based Filecoin Virtual Machine to operate its basic functionality. This upgrade is the first step toward enabling user programmability on Filecoin and is the network's most significant change since its launch almost two years ago.
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 611 new posts about Filecoin, driven by 436 contributors, and total online engagement reached 48K social interactions. The sentiment score for Filecoin currently stands at 88%. Compared to all cryptocurrencies, post volume for Filecoin currently ranks at 3566. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Filecoin.
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436
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47,538
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331
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40,654
Sentiment
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Filecoin FAQ
How much is 1 Filecoin worth today?
Currently, one Filecoin is worth $2.6310. For answers and insight into Filecoin's price action, you're in the right place. Explore the latest Filecoin charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Filecoin, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Filecoin have been created as well.
Watch this video to learn about what happens when you move your money to a crypto exchange.
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The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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