How does Filecoin mining get 10 times the effective mining power?

For a long time, Filecoin has always aimed to store real and valuable data. To achieve this goal, Filecoin encourages the entire network to store valuable data through the Filecoin Plus proposal. So, what is Filecoin Plus? What are 10 times the effective mining power?

Filecoin Plus was renamed from the “Verified Clients” program in the FIP-0003 proposal. Simply speaking, the customer submits the real and valuable data to the network for verification. After the verification is passed, the miners who store this part of the data will get 10 times of mining power, and correspondingly generates 10 times of mining output.

For example, after a customer submits 1T of data to the network for verification, the miners who store the data will get 10T of effective mining power. At the same time, the FILs required for staking and punishment are also 10 times.

Therefore, miners must store the verified data to obtain 10 times of effective mining power, and this part of the data must be real and effective.

The incentive mechanism of 10 times of effective mining power helps to promote the Filecoin network to store real and effective data, and it is also a supplement to the current economic model. Only the demand of storing real data can boost the development of Filecoin’s decentralized high-value storage network.

Originally published at https://www.filet.finance on March 23, 2022.