The Filecoin Network is an upcoming blockchain that aims to deliver on the original promise of blockchain by enabling a scalable, decentralized payments solution for the world.
Coins for payments are introduced to the network through the unique "POOF" protocol.
"Proof of Official Filings."
Early tests have demonstrated that our machine consistently produces the following outputs:
Our machine is 100% accurate at counting output filings due to its unique magnetic resonance technology implemented around the output tray.
We are relucant to release any details of the machine until we receive confirmation of our successful patent application.
To enable a full range of payments (including, but not limited to, micro and streaming payments) using real-world currencies on a global, borderless network. Also to enable true price discovery of the world's currencies for the first time in history.
Filed-down coins can be offered as payment to anyone on the Filecoin Network. It is at the payee's discretion whether or not they will accept any given coin filings as payment.
Possibly, but we like to think that the utility of the coins will be extended by filing them down - not debased. However, we will not begin operations until we have recieved full approval from the relevant authorities. We look forward to healthy discussions with regulators about how our technology can be used to improve the global economy.
Presently, we are still searching for the right location to open our headquarters. However, at the time of writing, the consensus among the team is that the location will most likely be in Northern Europe; on account of the favorable climate both in terms of regulatory liberalism and conducivity to the cold storage of coins.
Our tests indiciate that it would be reasonable to expect a throughput of 40,000 transactions per second upon launch. However, it is highly likely that this figure will increase to well over 1,000,000 transactions per second over the subsequent two years.
Consensus on the Filecoin Network is achieved using our novel implementation of "Delegated Proof of Stake." The Filecoin Foundation will stake the entirety of the tokens, and independent "witnesses" will be invited to "witness" the process of block creation on the Filecoin server. This server will be housed in a state-of-the-art data centre with a solid connection to the internet backbone. Over time, the Filecoin Foundation aims to provide a list of official witnesses for full transparency.
The Filecoin Network is being built using similar blockchain technology to that of the Bitcoin network, which has thus far withstood all attempts to compromise it over the past eleven years, despite hundreds of billions of dollars being at stake.
The Filecoin Foundation is led by Dr. Richard Shaw; a brilliant and esteemed man who despite not having any experience in cryptography, economics or distributed systems, is perhaps the most talented and sought-after founder in blockchain today. He began his career almost a decade ago by giving pseudoscientific-yet-impressive-sounding dietary advice to the gullibly overweight, and has since successfully branched out into a number of other fields in which he has no prior experience. He plans to leverage popular freelancing websites in order to scale operations before recruiting other team members on a permanent basis.
We aim to release the public main-net by Q1 2021.