Interpretation of Filecoin's Real Data Storage Process, Quick Tools, and New Developments

Author: Cabin VC

Panel Host:

Co-founder, Cabin VC, Vivian Meng

Cabin VC was established in 2018. Our core team entered the blockchain industry in 2013, experiencing several cycles and gradually forming a business model that integrates investment, media, and hardware ecology. Cabin VC has invested in projects such as Subspace, Curio, and FilSwan, and is also a storage provider for Filecoin.

Panel Guests:

1. Developer Advocate of Filecoin Foundation, Jenks

Technical evangelist for the Filecoin Foundation, responsible for introducing and promoting the Filecoin project and its ecosystem partners' technical products to hardworking and intelligent developers.

2. Founder, FilSwan, Charles

Filecoin ecosystem ambassador, Filecoin enterprise ambassador, Filecoin MinerX Fellow, Filecoin North America notary, early member of the FVM ecological development team, and Techstars startup camp mentor.

FilSwan is an application for edge computing and storage, building infrastructure for the entire Web3 based on the Filecoin ecosystem.

3. Head of Global Technology Community, SINSO, Franklin

SINSO is a layer 2 network built on Filecoin, serving as the infrastructure for the Web3.0 ecosystem. SINSO is committed to expanding the middle layer of Web3.0 and facilitating the transformation of various DApps from Web2.0 to Web3.0.

Topic and Main Points:

Vivian: How to view the distributed storage industry from different perspectives?

Jenks:

Filecoin and Protocol Labs believe that the internet is one of the most important technologies for human development. The evolution of the web has transitioned from the primary function of reading in Web1.0 to reading and writing in Web2.0, and the future trend of Web3.0 is to read, write, and own, by establishing distributed DApps, DAO communities, and other resources of the internet. Regardless of how the network evolves, data storage is the most fundamental infrastructure of the network. For example, when you enter Google.com in your browser, it is looking for the server address, which is a lookup system for addresses.

Web2.0 uses this technology to find content on the network, which has led to the rise of many powerful platforms, but also many centralization issues. The data does not belong to users, cannot be verified, and is easily tampered with, all of which are centralization problems. The IPFS technology initiated by the Filecoin project provides verifiable content through the characteristic of content lookup by CID, meaning that this content cannot be tampered with; if it is tampered with, its URL will change, thus reducing the risk.

Additionally, regarding permanent storage, it has been calculated that the average lifespan of a webpage on the Web2.0 network is about 2.5 years, and many webpages will be lost. One of the goals of Filecoin and many blockchain storage markets is to ensure that the content on the network is stored more permanently.

The InterPlanetary File System (IPFS) was proposed by Juan in 2014, with the white paper published, and the Filecoin mainnet construction began in 2017, aimed at solving these internet issues and accelerating our transition from Web2.0 to Web3.0.

The mission of Protocol Labs is to build a better next-generation network that stores the most valuable data of humanity through distributed network storage, and the longer, the better.

So I believe this is the greatest contribution that the distributed storage industry and Filecoin bring.

Charles:

I think the distributed storage or decentralized storage has several main characteristics: First, it provides a better level of off-site disaster recovery. For example, in case of unexpected situations or issues with a company or certain entities, data will always have a secure backup. The second is data uniqueness, which has a significant advantage due to the characteristics of IPFS itself.

Calculations show that using the IPLD format to store data with IPFS can save 30-50% of space compared to ordinary zip compression methods. This is due to a very strong Merkle tree type that eliminates some redundant content in the data, so from an economic perspective, using the IPLD file format brings economic benefits. The third point is about Filecoin's incentive model, which can significantly reduce costs and provide a practical advantage for enterprises.

Of course, the uniqueness of the file CID can help users better and faster determine the uniqueness of content in the future, which will greatly enhance various aspects. In my view, this is a very large industry with many areas worth exploring. Currently, many Web2 enterprises have not yet realized the advantages brought by these characteristics. As time progresses, we will pay more and more attention to these advantages, while empowering the durability and effectiveness of their data.

Franklin:

I think the Filecoin project is a very unique project in the blockchain world because it addresses the storage issues that have not been solved since the birth of Ethereum. It proposes a very complete solution and has a good incentive model for the storage trading market.

Whether it's proof of replication or proof of spacetime, it provides a paradigm for storage transactions that includes zero-knowledge proofs. Although it is not yet mature or has reached a low cost, it actually provides a future where its storage costs may be lower than the current centralized storage of Web2. This means that current users' storage needs may exist in both Web2 and Web3. Filecoin facilitates transactions through a purely market-driven storage matching, allowing everyone to integrate idle resources or the most advantageous resources globally.

So, Filecoin has surpassed Amazon and solved the problem of transitioning from Web2 to Web3.

On the application layer, as early as March 2018, we used IPFS to store a large dataset of human genes, storing about 90 TB of data at that time.

What is the significance of storing this data? I also interviewed some leaders of user gene big data companies, asking them whether they value storage costs or whether the storage architecture allows users to assert their data rights. The user told me that they value data rights the most.

Under the combination of Filecoin's CID and FVM technology, I believe it is possible to create a marketplace for medical data gene big data, allowing users to control their health data and generate greater value through frictionless decentralized transactions of this data. I think this is the most attractive aspect of Filecoin.

We are also very much looking forward to Filecoin having such a good infrastructure, combined with the programmability of FVM, which brings us immense imaginative space. It mainly brings us more possibilities in the application layer of Web3. For example, combined with FVM, it can allow users to customize procurement of storage spaces built with low-carbon and green energy. It quantifies many things through this market approach and can minimize transaction costs to the greatest extent.

Vivian: Next, I want to ask Jenks, what advantages does Filecoin have in terms of security, cost, efficiency, and convenience compared to centralized storage, which are the main concerns of data providers?

Jenks:

In terms of security, within the entire mechanism of Filecoin, there are many data providers. You can store your data in many locations, rather than just a few centralized data centers. This provides multiple regional redundancy, ensuring that your content can be preserved.

Filecoin uses proof of spacetime and proof of replication to ensure the authenticity of data and the nature of long-term storage with multiple backups. Charles mentioned uniqueness, which is quite important, as it also refers to another aspect of security: information security. There are many fake news stories now; when you upload a news image, you don't know if it has been tampered with. Storing such news images using CID means that if someone tampers with it, there will definitely be a new CID, achieving content uniqueness.

We also have many high-value NFTs in the market. Although the trading volume is small, the value is very high. Storing them on Ethereum is extremely expensive; a few MB can cost tens of thousands of dollars. However, if the CID of IPFS is written into their metadata, it provides a uniquely owned address, allowing the NFT owner to hold it for a long time, making it less prone to tampering. These are a few points regarding security:

From a cost perspective: prices fluctuate significantly, and the cryptocurrency market is highly volatile. Storage needs to be divided into cold storage and hot storage.

From the perspective of cold storage, based on previous calculations, the price of Filecoin is 0.38% of AWS S3. It has a significant competitive advantage in terms of price, but in terms of usability, for example, the ease of use of some developer tools is indeed somewhat lacking compared to Web2. Therefore, we have many ecosystem partners helping us create application layer tools for developers to use. To encourage the upload of more high-value data that is useful to humanity, many tools are currently free. For example, using NFT.storage to transmit data directly uploads it to the Filecoin network, which is currently a free project.

Filecoin Plus is also a very interesting project; it provides permanent preservation for the public electronic data of the New York Public Library, which is very meaningful for all humanity. We also have a complete notary system to manage Filecoin certifier information to ensure the value and quality of information. FilSwan is also one of them.

In the long run, the Filecoin system is market-priced and can be economically regulated. What we can do is to keep Web2.0 cheap as much as possible, which can promote the transfer of data from Web2.0 to Web3.0.

From the perspective of efficiency and convenience, we need to look at the needs of developers. As I mentioned, storage can be hot or cold; IPFS is hot storage, which you can upload immediately without cost, but it is not permanent. Filecoin is cold storage; once stored, it is not something you need to retrieve immediately. Therefore, there will be various development tools corresponding to this. Overall, I believe the efficiency is still not as complete as Web2 and is still in exploration. We are still in the process of building; the entire Web3.0 is not yet fully developed, which is why we have grants, bounties, and organize hackathons to let hardworking and intelligent developers help us solve these problems.

So this is what I want to say about security, cost, efficiency, and convenience.

Vivian: There are many distributed storage projects, such as Arweave, Sia, FilSwan, and SINSO. Why did you choose Filecoin as the data storage layer, and what considerations were mainly based on?

Charles:

I can start by explaining my reasons for choosing. First and foremost, Filecoin's current storage scale has exceeded 18EB, if I remember correctly, which is a peak that is difficult to surpass among all storage projects.

Many projects cannot prove that they can achieve storage on a small scale, and when it becomes large-scale, they still need to achieve performance coordination in various aspects.

For example, Arweave has issues with storing small files; it can barely sync a few hundred TB. Who can guarantee that it can still sync at the PB level? Who can guarantee that it can still sync at the EB level? Filecoin is different; it reached hundreds of PB and EB levels during the space race. So for us, if you are doing a truly enterprise-level application, it is relatively rare for a single enterprise's data to reach EB levels, meaning you almost no longer need to prove whether it can reach that level—the answer is yes, it can.

Secondly, as the leader in the storage track, Filecoin is unparalleled in terms of technical scale, the number of ecosystem participants, and its global influence. For example, we know that the Protocol Labs team of Filecoin has a large number of top research talents from Stanford, Harvard, and MIT who continuously improve this model.

For instance, many of us know that early on, Filecoin experienced severe message congestion, but they researched a z cup upgrade method within a few months, reducing the number of messages by over 60% and rapidly decreasing gas fees. This is not something that an ordinary team can operate on a public chain scale.

If someone has participated in the space race, you should still remember that before the mainnet went live, the team repeatedly rehearsed and solved a series of operational issues, such as how to handle network disconnections and block consensus failures. We see some public chains, such as Solana and Polygon, frequently experiencing chain disconnections and message failures during mainnet operation. This makes us feel that as a commercially viable blockchain, Filecoin has already solved many disaster-level issues early on.

Thirdly, it has advantages in community support. Filecoin is very friendly to developers, with various developer assistance projects. If developers want to test an order, as long as they have a GitHub account, they can obtain a 32GB real data storage for their early testing. If your development project is indeed helpful to the Filecoin ecosystem, you can also receive a Microgrant of around $5,000 to quickly launch your project.

As a Filecoin ambassador, along with other ambassadors, we help these developers and ecosystem enthusiasts enter the ecosystem.

As FilSwan, an enterprise-level application ambassador, we have also established many tools, such as our multi-chain storage, which allows you to use Metamask to pay for storing your small files. We also provide FS3 to help you migrate data from AWS or Alibaba Cloud to the Filecoin network. These ecosystem projects tirelessly empower Web2 and Web3 enterprises and startups. Filecoin also has many hackathons; we participated in some hackathons early on and also sponsored events like Dorahacks.

We have grown from a funded team in the Filecoin ecosystem to a team that funds others. Therefore, I believe that the Filecoin ecosystem is very friendly to developers, users, and enterprises. This is why we think Filecoin, as the leader in the storage track, has its unique advantages. We also strongly recommend that both Web2 and Web3 enterprises and individuals consider using Filecoin as a primary alternative for storage.

Franklin:

Charles has already covered this quite well. I would like to mention one point: I believe Filecoin is currently at a stage where there are good ecological dividends. Everyone does not need to worry about how expensive the initial storage costs are because there are already many free and very low-cost storage facilities available, including FilSwan, NFT.Storage, and many other tools. What we focus on is how to make a good connection with Web3 applications.

We see Filecoin as a data processing factory; it is a good data foundation and the world's largest zero-knowledge proof network. What we value is that Filecoin is primarily positioned for enterprise-level storage, meaning it has high flexibility in the enterprise-level storage market. I think Arweave is more inclined towards NFTs.

In the enterprise-level storage space, we are more focused on improving efficiency in compliance and effective data collection. For example, there are many concepts of edge storage. We need to combine with edge computing, and many people need to build a private storage node close to their applications for interaction. We want to upgrade edge storage to create a distributed secondary cache network, which will cache data into Filecoin, allowing developers to define a layered storage concept based on their needs. For example, I can store important recent data in Filecoin's space, which can be treated as effective data with ten times the computing power in the DataCap.

For less important information, it can be stored in our SINSO Gateway for layered storage. We also need to consider how to incentivize data ecosystem participants to use storage. I think there are still some detailed issues here. The data processing factory is established, but the standardized highways and logistics systems leading to the data processing factory, as well as the rules for data transportation, still need to be defined in detail at the front end. This is what SINSO needs to do.

In simple terms, we need to create a secondary cache network that allows developers to define more layered storage and also pre-process the behavior of uploading data, categorizing it and providing corresponding incentives.

During the incentive process, we need to consider how to separate the roles of resource providers and actual users, and for C-end users, according to the Web3 storage paradigm, there needs to be a distributed DID and CID combination. We need a universal data browser that allows them to access their own data, rather than just packaging all C-end user data together and storing it after using Filecoin. Storing it this way means that the C-end user's data is still controlled by a relatively centralized B-end, which is not very valuable. Therefore, we are currently working on some foundational infrastructure tools that genuinely solve detailed issues in conjunction with applications.

SINSO has already produced some small cases and is currently making improvements.

I believe Filecoin already has a good foundation, and it is okay to leverage imagination to build infrastructure architecture with project landing as the goal. This approach is completely acceptable, focusing on enterprise-level applications.

Jenks:

I can confirm that our current network storage capacity is indeed at 18EB, which is about 1% of all cloud computing capacity. I just received data that we have a weekly meeting to observe the growth of storage capacity, and it's very exciting to see this number. Another recent piece of data is that 3% of the world's produced hard drives are now providing storage power for Filecoin, so we are very grateful to our storage providers for happily purchasing these hard drives and quickly installing machines to provide computing power. Thank you very much, everyone.

Franklin mentioned the web3.storage tool, which is free for under 1TB for developers, and above 1TB is also free. Of course, there may be charges in the future.

From the perspective of the project side, I would like to discuss other storage projects. The main intention of Arweave is permanent storage; price is not their primary goal. Filecoin is different; Filecoin is about deal-making, and the storage trading market is definitely our characteristic because only the application trading market and token economy can ensure that your prices are always low.

Vivian: I think one more point is that Filecoin, in addition to providing storage, has much higher ecological extensibility than other underlying layers. Especially with the upcoming launch of FVM, there may be some specialized tools for data storage and retrieval in vertical fields that can help users and enterprises better manage their data and ensure data security, as well as develop many new applications. I think this is something that other storage projects may not possess. I have been closely following Filecoin's progress recently, and the growth of data storage is very rapid. Although the overall volume is not very large now, there may be more new deployments on the network in the future, which is very much worth looking forward to.

So I also want to ask everyone, what processes are needed to store real data on Filecoin, and what preparations are required for different types of data providers? Today, all three guests belong to different roles in data storage, and you can discuss this issue from your respective perspectives.

Charles:

Since we are also one of the early notaries for Filecoin and were among the first to use real data, Filecoin has two types of storage: one is data storage, and the other is real data storage.

Now everyone talks a lot about real data storage, but actually, Filecoin has a type of order called regular deal. Ordinary data storage can be traced back to before the space race. At that time, the official standard for data participants was the success rate of data storage and retrieval, which directly affected the competition rewards. Many teams' technologies were not mature, so they tried everything possible to ensure successful storage and retrieval.

Immediately after this competition, the second competition called Space Race 2 began, which focused primarily on data storage. We participated throughout the entire process from the data storage forest watch of Space Race 1.0 to the recent 2.8, a total of 10 rounds of competition. When storing, there are several steps to follow. For a regular order, you need to have a client. FilSwan provides some order issuance tools, and you can also create your own order issuance tools to interface with the official Lotus market. You prepare the data and convert it into a CAR file, which will then be converted into a Piece ID. The Piece ID will be sent out through the order, and the storage order recipient will accept your order, download your data, and store it on the node. This is the technical process.

Because of the tenfold computing power, many people are very interested in real data storage. If you want to do real data storage, it adds a notary step to the regular order. For your data to be considered real data, you first need to find a notary. Currently, there are five major regions globally, and the last selection period has just ended, so it has now increased to 50 notaries.

You have two ways to obtain storage orders: one is to find local notaries, such as in China, Asia, or North America. Depending on your location, you can find local notaries on the Fil Plus website to approve your application. If approved, they will give you an address and allocate a certain data quota. Any orders issued from this data quota address will be considered valid data. Once you obtain this valid data quota, use this address to issue orders with the previous order issuance software, setting one of the fields called "Is this a real data order?" to yes, and issuing it will be a real data order. The third step is to find someone willing to store it. For example, FilSwan provides many tools; you can visit FilSwan's official website FilSwan.com to see which global storage miners are willing to accept orders. You can also directly use FilSwan's automatic matching tool. We have an O to B self-matching tool that will find clients globally who meet your pricing and capacity requirements to accept orders.

Since our launch, we have issued nearly 1PB of real data storage globally. Many smaller nodes and newly integrated nodes in the ecosystem will register their storage nodes with us at FilSwan and receive a certain amount of storage daily. The sources of storage vary; some clients receive data and do not know where to find orders automatically, while others come from our FilSwan ecosystem software. For example, we recently conducted multi-chain storage, and many NFT projects will package and upload their data. Therefore, data storage is still a relatively complex function, and it is best to find some professional teams to introduce you to the experience, which can save you a lot of detours and accelerate your progress.

As an enterprise-level ecological application intermediary, if you need some tools, you can join our FilSwan developer group. We have Chinese and English technical support to help you quickly log into the Filecoin network.

Franklin:

The entire process of SINSO has already been completed as Charles mentioned. I would like to add that SINSO's main focus is on how to collect the most valuable data and organize it in an orderly manner, automating the process of real data and order issuance. We are now in a joint debugging testing phase, meaning that there are still issues in the order issuance process, as there may not yet be a coherent flow of real and valid data. We are working towards automating this process.

For effective data collection, SINSO handles it this way. For example, last September, we did a demo called "Dicom Network." We believe that a significant portion of the world's data is generated according to standard communication protocols and formats. For instance, DICOM files, which are medical files constructed according to the DICOM communication protocol standard by the American Radiological Association, are processed through our communication protocol stack parsing and formatting. We treat it as a pre-processing mechanism for the front-end data processing protocol stack. This means that through our automated processing, we can ensure that incoming data is medical data in accordance with standard communication protocol formats, which can be opened using internationally recognized medical imaging browsers, filtering out a large amount of invalid data. After entering the SINSO Gateway, the front-end DApp development can specify the data to cooperate with the notary for order issuance. We hope to automate the process and are working on this.

However, the biggest issue now is that after packaging data into CAR files, retrieving this data from Filecoin and being able to search for it is still not very user-friendly for the front-end of DApps. Therefore, we also look forward to the next step of Filecoin's retrieval market being improved, so that the storage process can achieve a complete closed-loop effect. Currently, the system for uploading effective data and the notary for order issuance in Filecoin is basically functioning well, with no major issues. However, a lot of work still needs to be done to make it more automated, intelligent, and coherent.

Vivian: I want to ask if the approval for effective storage rewards is currently paused? When is it expected to resume?

Charles:

I can clarify that it is not paused. Here’s the situation: Filecoin conducted a new round of notary applications in March and April. The newly appointed notaries have not yet completed their onboarding and training.

They are currently training these notaries, and not all of their equipment has arrived. However, for the quotas that have already been applied for, the distribution is still ongoing. I am one of the notaries approving these DataCaps. For some new applications, there has indeed been a temporary slowdown in progress because they need to generate something called a LUKS key holder to send to each notary, which has slowed down the process.

For existing DataCap applications, especially large data applications, I generally approve suitable ones I see.

Vivian: Currently, the demand for data from the distributed storage side has not opened up. What do you think is causing this situation, and how can we improve it? Do you have any good suggestions?

Jenks:

Currently, there is indeed an oversupply of storage capacity, which is a chicken-and-egg problem. If you don't have space, how can you store data? Then when space is available, if you don't store enough, others feel that your utilization is low. Therefore, I think the Filecoin project is still improving, and many things are still in the planning stages. As a technical person, I believe some developer tools are not very complete and have not been made very easy to integrate with existing Web2.0 developer tools.

For example, if I want to migrate all my data from AWS, there is currently no good migration tool that can achieve enterprise-level efficiency. Additionally, the retrieval market is not yet complete, and we are still working on it. We hope that SINSO and FilSwan can help us solve some of these issues. For example, deal-making is still quite manual; currently, deals must be renewed within 6 to 18 months. FilSwan's outfit can also assist with this. If you genuinely want to automate renewals, we hope to open this up from the FVM level, allowing developers to innovate more and improve the developer experience, thereby opening up data demand.

Charles:

First, we need to note that the Filecoin network has only been live for a year and a half. If you look at Ethereum in its early days, there was actually nothing at that time. So, the acceptance of this technology from its emergence to its current use takes time. This is the first point.

The second point is that there is already a significant amount of data on the Filecoin network, with hundreds of PB of data stored. The demand side can actually be divided into two types: one is the demand for clients to store data on Filecoin, and the other is how clients use the data stored on Filecoin. These are two directions. Currently, moving data to Filecoin is relatively good. If you compare it to Arweave, which has only a few hundred TB of data, Filecoin has already achieved hundreds of PB, which is quite successful.

So, more issues actually lie in how we treat and use this data and how to meet client needs. In this regard, I believe we still have a lot of room for improvement. As mentioned earlier, we have a 540-day cycle for data; how to meet client needs over a longer period is a challenge. For cold data storage, how to improve renewal processes is crucial, and FVM provides a feasible channel because you can use smart contracts to solve this issue.

As an early builder team for FVM, we are currently involved in designing this aspect. When Filecoin's smart contracts rise in August or September, we may provide a very friendly solution to further open up usage channels for Web2 users, which is very meaningful for Web3.

This way, Filecoin can rightfully say that we can achieve one-time payment for permanent use, which would be a significant turning point. Development tools are also a multifaceted issue. Since the storage went live, various teams have been working hard to write their documentation. We have invested considerable effort in creating a good user experience for developers. We have also created many tools, mainly focusing on two aspects to make developers more comfortable or to make data usage more comfortable.

The first is that issuing orders for small files does not require complicated steps. We provide a multi-chain storage tool; you only need to click a mouse to upload, which is a very user-friendly tool. If you want to store hundreds of files, we also provide a development SDK; you just need to place the files in a folder, and we will send them all out for you. Another aspect is the segmentation of large files. If you exceed a sector of 32GB, we will help you segment it, just like when you go to the supermarket to buy vegetables; you don't need to chop the ribs yourself. We will chop them up, package them into small bags, and deliver them. These tools are part of a complete packaging process to push to the market, and development will take some time. We expect that in 3 to 6 months, various teams will have made significant progress.

Regarding data demand, we are currently collaborating with McGill University to organize some medical data. This is a project in cooperation between the Chinese Ministry of Science and Technology and the Quebec government. The involvement of world-renowned institutions like McGill University and Stanford University will have a very obvious branding effect and leading effect.

These cases are continuously leading the way. I also know that many data storage suppliers in Europe and the United States are acting as intermediaries for data storage, bringing users and traffic into the Filecoin network. Therefore, Filecoin has also established a dedicated market team and technical support team to work on this.

Stephen, as the overall head of the ecosystem, is encouraging various projects. For example, I know of a project called the Gravity Project, which allows you to store encrypted data with real data storage needs. Although it cannot be certified as real data, the official will provide you with a portion of matching rewards. Friends interested in the Gravity Project can contact me.

If your project is particularly close to market demand, I can recommend you to the Filecoin Foundation. They have some rewards for onboarding work. These actions will significantly increase the overall influence of the Filecoin network in the market and help transport more enterprise and user data onto the network.

Moreover, the official team is also interacting with various ecosystem teams, such as the Global Application Conference, Blockchain Week in Paris, and some demonstrations of NFT.storage at the Toronto Film Festival, as well as the upcoming CoinDesk Submit in June. Everyone interested can register. The market takes time to yield results, and we are currently in that process.

Franklin:

I believe that from the perspective of Filecoin's applications and project introductions, some work has been done in effective data uploads. However, I think there may be some difficulties. Many project needs are not just for Web3 business but also for Web2 business that needs to be stored in Filecoin.

In this process, the vast majority of projects still emphasize efficiency. We believe that Web3.0 is a paradigm for future economic sharing or a foundation for future blockchain and human production relationships. However, to build this foundation, we must ensure that Filecoin is compatible with Web2.0 data in terms of efficiency. We cannot leapfrog development; Web2 data must be efficiently stored in Filecoin before combining with FVM or other new methods to generate new production relationships or innovations in business models. Essentially, it is not about replacing AWS with low-cost storage; that is definitely not the concept.

Therefore, SINSO has been focusing on improving storage efficiency during this period. We have recently developed an API called SINSO Gateway, which can effectively and quickly cache data into the Gateway network, allowing developers to define the most valuable data to be stored in effective computing power DataCap. This process has been fully established.

Yesterday, we connected with a health project called AdvaitaHealth, which essentially involves data from wearable sensors related to sports and health. It uploads data to Filecoin through SINSO Gateway, and in the future, it aims to conduct in-depth data analysis in the direction of artificial intelligence. Before doing AI, there is a very clear action for data rights assertion and subsequent governance of the data. This means that FVM will bring us more possibilities, indicating that Filecoin can not only provide storage but also open up a computing market.

With FVM, we can diversify the types of data trading and allow the technology itself to be completed by the community, not just relying on the Filecoin official team. The community can define various new methods for Web3, attracting more ecosystems to expand.

I believe many industries have already reached a ceiling, meaning that everyone is working hard but not making money. They also want to break through in their business models. The prerequisite for breaking through business models is to first move data to Filecoin and then generate Web3 methods.

This is not something a single team can accomplish. SINSO has only made some insignificant explorations, but we are starting to do so. We are currently collaborating with communities from over ten European countries, recently recruiting ambassadors, and interacting with the Filecoin ambassador program, doing demos and promotions, contributing to the Filecoin ecosystem as much as we can.

In summary, we need to find every possible way to move current Web2 data to Filecoin and then further transform it. I believe this ecosystem can accelerate.

Vivian: Thank you to the three guests for your time and your careful preparation. Our discussion ends here. The distributed storage track is a direction that Cabin VC is paying more attention to, and we will continue to organize relevant topics. We also hope to generate more interaction with everyone in future communications.

Event replay link Binance Live: https://www.binance.com/zh-CN/live/video?roomId=2102411