INTRO QUESTIONS
Q1: Can you briefly describe what is #FileCash? We would like to know more about it and how it works.
Filecash is the first pre-fork project of Filecoin. It is an incentivization layer of the IPFS protocol, setting the goal of building the Web 3.0 basic storage engine, to make it the world’s leading distributed cloud storage platform.
The core logic behind Filecash is to reduce the threshold of ecosystem participation through a series of technical optimization schemes and economic model improvements, to make the global idle storage resources participate in Filecash consensus, to reduce computing resource consumption, and to reduce sealing and storage costs, and form a close relationship between developers, miners, and communities.
The meaning of “pre-fork”: Filecash was forking from Filecoin before Filecoin’s mainnet launched, so we call this fork a “pre-fork”. On the other hand, the fork itself is also in line with the essence of the blockchain spirit. The open-source protocol is not controlled by anyone. If there is any disagreement on the original chain, each divergence point can be used as the starting point of various forks, and each fork will be a point of divergence with new beginnings and the development of different paths. In fact, the diversified development of different technical paths, different governance institutions, and different economic models on the same track has been completed.
Q2: What are the products that the #FileCash team is focusing on developing?
Filecash is a fork of Filecoin, and the project’s whole development is focusing on improving the mechanism compared to Filecoin. If we say Filecoin is a more corporate-like operated cloud storage service, Filecash is a decentralized, algorithm managed blockchain project. Filecash doesn’t have human interfered KYC, and completely proceeds with verifications via algorithm. Filecash also doesn’t have officially defined “verified data”.
Currently, Filecash’s core changes to Filecoin technology and governance are as follows:
1. The Sha256 algorithm of the Precommit 1 part is changed to sha512. This change made both AMD chip miner machines and Intel chip miner machines can mine Filecash, while Filecoin only supports AMD chip miner machines.
2. Change the sealing layers from 11 layers to 5~8 layers. To mine Filecoin, the 11 layers sealing procedure takes a lot of miner machine’s resources and network bandwidth resources, so Filecoin’s TPS is very low and this also caused the recent super-high Gas fee crisis. Filecash reduced the sealing layers to less than 8 layers to enhance the TPS and release more resources for the storage task.
3. 32G sector is changed to 16G sector. Filecoin’s sector size is 32G, which means to seal a sector in the Filecoin project, the machine needs higher memory storage and system resources, while Filecash’s sector size is only 16G, so Filecash miners need less system resources to finish one sector’s sealing. When the client only needs to store a small size file, Filecash’s cost will be lower than Filecoin’s.
4. Filecash removed human interfered KYC and the “verified data”. Filecoin’s KYC and its “verified data” caused many arguments and disagreements in the Community, and Filecash removed both of them, to make sure that in the Filecash network, all the data paid by clients to store in the network is valid data.
Q3: What role does the $FIC token play in your ecosystem?
To initiate the Filecash mining, the miner should deposit certain amount of FIC token as collateral, during the mining period, if the miner fails to upload messages in time, or if the miner lost the customer’s data by mistake, the system will deduct the certain FIC token from the collateral FIC as punishment. When the miner does everything greatly, the miner will get FIC token as reward for the mining.
Filecash’s FIC token distribution: the total amount of FIC distribution is 2 billion: Miners mining part 55% (Linearly halved in 6 years), Layer2 incentive related part 30%, investors 10%, foundation 2.5% (6 years of linear release), development team 2.5%.
Filecash’s token is FIC, and it is listed on these exchanges already: Hotbit.io, Gate.io, MEXC and some other exchange apps. We will see FIC in more exchanges in the future. You can buy and sell FIC in those exchanges, and also keep your FIC in these exchanges’ wallets.
Q4: What is the development roadmap of the #FileCash project at present and in the future?
We already have two South Korean miners are mining Filecash, and we expect to see more Korean miners switch from Filecoin to Filecash for the mining as well.
On the other hand, we plan to list FIC tokens to more exchange’s apps, to make it easier to buy and trade FIC tokens.
As the long-term strategic direction, we also plan to expand our coverage to more countries including Singapore, Malaysia, Canada, USA. This will significantly affect Filecash’s FIC tokens near future’s price trend as well.
Q5: Can #FileCash team please update some #FileCash latest news or major events to attract more?
Last week, the 2nd Korean miner has started their test-mining of Filecash, and the cloud-mining entities that have been mining Filecash, continue to mine Filecash and support their related FIC cloud mining product, these are the great news for the project, and we are on the way to find some more exchanges to list FIC token.
TWITTER QUESTIONS
Q1: You emphasize the enthusiasm and importance of the miners, do you think that Filecash by implementing this facility for them, can all the miners from other projects migrate to filecash? From: @AlexXan38372836
We’ve been seeing some Filecoin miners in South Korea have started to also mine Filecash, due to continuous price declining of FIL token. Filecash is always open for everyone who is enthusiastic for the mining, and familiar with this type of blockchain technology. You can always say Hi in our official telegram group: https://t.me/FilecashGlobal.
Q2: How can you balance between developing a platform and adding value to your product? Can you explain about the tokenomics & use-cases of $FIC token? How will your project evolve in the near future? Any plans to add more used cases or give more incentives to hold $FIC? From: @duycuong20001
I’ve explained this part in the earlier question. Again, FIC token is essential for initiating Filecash mining, and you can get FIC token from your mining as reward as long as you are managed to generate the blocks.
Filecash’s FIC token distribution: the total amount of FIC distribution is 2 billion: Miners mining part 55% (Linearly halved in 6 years), Layer2 incentive related part 30%, investors 10%, foundation 2.5% (6 years of linear release), development team 2.5%.
Filecash’s token is FIC, and it is listed on these exchanges already: Hotbit.io, Gate.io, MEXC and some other exchange apps. We will see FIC in more exchanges in the future. You can buy and sell FIC in those exchanges, and also keep your FIC in these exchanges’ wallets.
To make this project more well-known and attractive to the crypto investors, we are on the way to introduce Filecash to more countries to attract more miners to mine Filecash, and also trade FIC tokens.
Q3: FileCash is the storage engine for Web3.0. Will FileCash be able to work with the Web2 ecosystem? or will it only work in the Web3 ecosystem? From: @ThanhHang11221
Filecash is an independent public chain, by expanding its storage network, Filecash will have Layer 2 related applications to boost its ecosystem based on Web3. Before we get to this stage, first of all, we are doing our best effort to expand our total network power which is still very low. When the big enough total network power is ready, the Layer 2 ecosystem applications will work properly.
Q4: Could you tell us what advantages Filecash’s Layer 2 application layer give to the platform over Filecoin? On what other aspects are you willing to surpass Filecoin and how will you do so? From: @QuanTran1010
The Layer 2 applications of Filecash, would make it easy to use Filecash network instantly, compared to current way of spending a lot of time to seal data and store data on the network. The Layer 2 applications will make Filecash storage network “lands in the real world” for everyone’s daily use.
Q5: I read that the #Filecashglobal minting process officially supports the Phantom Wallet. Is it only available in Phantom Wallet or can users use other wallets such as TrustWallet or Metamask? From: @NguyenLinhh21
Currently FIC token is NOT available on Phantom wallet yet and we didn’t announce the official supports to phantom wallet before, so I need to correct your description.
However, we plan to list FIC tokens to more and more DECENTRALIZED wallets, and I think Trust Wallet is a great example of the decentralized wallets.
LIVE QUESTIONS
Q1: Are you planning to promote your project in countries / regions where English is not good? Do you have a local community for them to better understand your project?
Yes, South Korea, Japan, Germany and Viet Nam are in our plans to promote in the local languages by various AMAs and Airdrop events.
Q2: What do you have?
1- Telegram Group✔️
2-YouTube Channel✔️
3- Tik tok channel✔️
4- Discord✔️
5- Twitter✔️
6- Website✔️
Official Website: www.file.cash
Whitepaper: https://file.cash/filecash.html
Github: https://github.com/filecash
Twitter: https://twitter.com/filecashglobal
Reddit: https://www.reddit.com/r/filecash
Medium: https://medium.com/filecashglobal
Slack: https://filecashworkspace.slack.com/join/shared_invite/zt-kca9ippi-pUniHv0K_zzneG9PxMz2Ow#/
Facebook: https://www.facebook.com/FilecashGlobal
Discord: https://discord.gg/5kfNZAHB4M
Q3: What are your security measures adopted from hacking and bugs in smart contract ? Have you conducted any audit to make your smart contract safe?
We do have the 3rd party audit document of security for our project. This is the essential document to list FIC tokens to the exchanges.
Q4: COVID 19 has slowed down many economies around the world but as a crypto business, does it affect you negatively or positively?
It didn’t directly affect our project’s development and the marketing effort, but as we all see these days: the crypto world is confronting the most severe downward season at the moment, and many crypto entities have bankrupted.
Q5: Where can I buy your tokens now, what are your current contracts address and how can I buy them and what are the benefits?
A: To recommendation is MEXC.com and Hotbit.io. You can also check FIC price trend on Coinmarketcap: https://coinmarketcap.com/currencies/filecash/
