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As I understand it, they're not using PoW, and they definitely are using IPFS.
by NoahKAndrews 5y ago
As I understand it, they're not using PoW, and they definitely are using IPFS.
- lucb1e 5y agoThen how is it a blockchain, or where does that power draw come from? Sounds more like git than like bitcoin if it doesn't have PoW, but git doesn't use a lot of energy. I'm confused. (I'm using git here as a bit of a hyperbole to indicate something we all know as being a cryptographically linked list of things while clearly not requiring miners, currencies, or power-hungry infrastructure. Feel free to replace git with a better example if there is one, I'm not sure how to better differentiate between blockchain with and without consensus mechanism than this.)
- wmf 5y agoFilecoin uses what they call Proof-of-Spacetime (PoSt) where basically miners prove that they are storing your data. Unfortunately the SNARK algorithms involved in PoSt are quite computationally expensive so Filecoin uses more energy than PoS but far less than PoW. https://spec.filecoin.io/algorithms/pos/post/ https://spec.filecoin.io/algorithms/pos/post/
- lucb1e 5y agoNice, that's an improvement!