Chinese Team to Fork Filecoin

On the afternoon of Sep 18, Han Weiping, chairman of MIX group, said that they would fork Filecoin. A number of miner manufacturers confirmed that there will be a number of subsequent teams will announce fork. Du Jun, the founder of Node Capital, a heavy supporter of Filecoin, said he would support the fork. On the morning of the same day, another anonymous team also announced another fork. By now the attitude of the official is unclear.

“We are one of the most important fork teams. In 2015, Wu Jihan, founder of Bitmain has talked to me about the BTC fork, but at that time, he felt that the reasons for the fork were not sufficient, but at present, the reasons for Filecoin fork is sufficient.”

Said Han Weiping, he lists the following reasons of Filecoin forking:

1. A large number of Intel machines can not enter the Filecoin system, but it is easy to improve;

2. The sealing process is very complex;

3. TPS efficiency is relatively low;

4. The front mortgage is too high, which is beneficial to early investors and not conducive to miners;

5. Only the official can define effective data;

6. Filecoin developers do not pay attention to the voice of the community, and miners have tens of billions of assets;

7. Only 70% of the coins are produced by mining, and the early advantages are too obvious.

Han Weiping is an early investor in the Chinese crypto space. He invests in mining, OTC trading, wallet, IPFS, DeFi and more.

In order to solve this problem, Han Weiping proposed to unite the community forces, be loyal to the IPFS ideal, and solve the above problems. On the 19th, the public test will start and mining can be carried out, and the mainnet will be launched in October.

There are 5-6 fork teams contacting them, and he expressed his expectation and hope to be able to put pressure on Filecoin official to change the model. However, Fan Yifan, the Crypto Matrix CMO, did not approve of it. He said that it was best to condense it into a chain, do not to destroy the consensus, it’s better to make one network strong. Most of the previous forked coins were relatively terrible.

The reason for Filecoin fork is similar to that of BCH, that is, the miners are very dissatisfied with the developers. The Filecoin economic model is extremely unreasonable in the eyes of miners, especially unfriendly to large miners.

For some miners, fork has become an inevitable choice. But some miners and individual investors do not seem to support it. For such a complex system as Filecoin, there are still a lot of bugs and uncertain economic models. It is still doubtful whether the team that support the fork has enough technical strength to promote it.

Publication date: 
09/18/2020 - 12:47

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