Blockchain Expo 2020. RRMine Global CEO, Steve Tsou: IPFS Decentralized Storage Technology Brings Miners More Profit
On September 30th, Blockchain Expo 2020 Virtual was grandly held. Blockchain Expo World Series is made up of 4 conferences throughout the year. The World’s largest Blockchain Conferences and Exhibitions focus on the future of enterprise technology. Two days of top-level content from leading brands, embracing and developing cutting edge blockchain technologies.
The conference agendas will present a series of expert keynotes, interactive panel discussions, and solution-based case studies. All exploring the key industries that are set to be disrupted the most by this new technology, including; legal sectors, retail, financial services, healthcare, insurance, energy, music, government, real estate and more.
Steve Tsou, the global CEO of RRMine, attended the conference and gave a keynote speech on “ IPFS Decentralized Storage Technology Brings Miners More Profit”.
Hello everyone. I am the global CEO of RRMine, Steve Tsou. I am here today to share RRMine and IPFS related topics with you. First of all, let me introduce RRMine to you. RRMine is the world’s leading computing power asset management and trading platform. In the past three years, RRMine has achieved outstanding results in the field of BTC mining. Similarly, we are always looking for high-quality computing power assets to add to our product matrix. Filecoin is one of them. What is Filecoin and how do we benefit from it? Please allow me to share my thoughts with you.
IPFS, An Enriched New Market
IPFS is the Internet WEB3.0 technology that is expected to replace HTTP. The decentralized ecosystem is also complementing and even challenging centralized cloud ecosystems such as Amazon Cloud AWS and Ali Cloud. Filecoin is the incentive layer on IPFS. Its mission is to create a distributed, efficient, and robust storage network.
Humanity currently generates 2.5 EB of data every day. Billions of e-mails, social media messages, photos, and other information have doubled the data capacity every year, and the computing speed is getting faster and faster. In the future world, human beings are inseparable from computing and storage, which will be the bottom layer of the Internet 3.0.
By 2022, the market for cloud storage and content delivery network (CDN) will exceed 100 billion U.S. dollars, and the world’s data will not be able to completely stored on centralized servers such as Ali Cloud, Amazon Cloud, and Google Cloud. Thus, the need for a decentralized data storage system is required in the near future to meet the ever-growing data. Represented by IPFS, the decentralized storage system will expand the traditional centralized storage market. Therefore, as the incentive layer on IPFS, Filecoin has a huge potential market, and such a brand new market can also accommodate the rapid development of more innovative companies. We are optimistic about IPFS. As we speak, we have invested funds in mining rigs, crypto farms, and technology to deploy IPFS computing power ecology globally. We have joined this open market on decentralized storage led by IPFS and will help IPFS ecology change the rules of the information world with new storage and economic models.
Filecoin Is As Transparent As Airbnb
When you hear the word “decentralization”, what is the first impression that comes to your mind? Yes, blockchain. The IPFS includes blockchain technology and cryptocurrency (FIL Token). It ensures the security, reliability, visibility, and fairness of the network. And why is Filecoin an open market model? In fact, the concept of Filecoin is similar to the sharing economy such as Airbnb and Uber.
It allows everyone to share and provide their open hard drive space. It aims to reward companies from large data storage centers to mining equipment owners, miners who provide services, users who participate in ecological construction, etc. Various roles in the IPFS ecosystem can obtain economic benefits through Filecoin.
Mining FIL is different from BTC mining in that the cost of electricity is not the main factor, and its concept is more complicated. The reward is proportional to the actual amount of storage contributed by miners to the IPFS network. Also, providing data and content to other CDNs with the fastest speed will receive a similar reward as miners. Therefore, Filecoin miners are committed to creating a sustainable, long-term network to make profits by providing valuable services.
RRMine’s 10k CNY Packaging Efficiency Ranked First in Space Race
According to Filecoin official’s latest announcement of the winners in Space Race 1, RRMine won 139009.66 FIL rewards.
1. RRMine Asian node t02614, with a total computing power of 8.25PB, and the node ranked fifth in the world;
2. The total number of blocks produced is 11,871 ranking fourth in the world, and the average order success rate is higher than 98%, ranking third in the world
3. Effective storage output per T: 14.93FIL (the highest based on publicly available data), when the effective storage utilization rate is 100%, the expected output per 10,000 CNY invested: 80.01FIL
4. According to the cost of the mining machine and the total amount of coins produced, the packaging efficiency is calculated: 4.2GB/hour/$1,000, which ranks first in the market (based on publicly available data) for packaging efficiency of 10,000 CNY.
This is a very important number. The market average is between 1.79GB/hour/$1000 to 3.36GB/hour/$1000. RRMine can reach 4.2GB/hour/US$1000, which means that the same amount of capital invested, the amount of FIL produced and the ROI are both higher.
RRMine’s Cutting Edge Technology Achieves Excellent Results
First, System Efficiency Optimization Architecture
RRMine first optimized the IPFS system architecture and divided it into four-tier architecture management: the node layer (main miner), controlling layer (sub-miner), computing layer (computing power machine), and storage layer (distributed storage).
Secondly, the IPFS encryption algorithm is optimized, and all the core codes are replaced with more efficient C language and assembly language to maximize the efficiency of each step and bring about a significant improvement in our data efficiency.
Next, optimize the IPFS operating mechanism, adjust the official code to allow the performance improvement, and increase the storage efficiency of each hardware. The split data package is realized, the CPU computing power machine handles multiple different encryption computation tasks at the same time, and the GPU implements multiple concurrent execution verification tasks. Finally, perfected control mechanism to ensure that the cluster can perform reasonable machine allocation under abnormal conditions, such as network congestion and hardware failure.
Cluster Technology
1. A more reasonable assembly-line-type cluster architecture, allowing the full play to the advantages of CUP, GPU, hard disk I/O, bandwidth, etc., to maximize hardware utilization, and to ensure high FIL production with given time and cost.
2. Network architecture optimization, T3+ professional IDC server room, optimal networking solution for 10 Gigabit core switches, and professional cross-border acceleration services.
3. A more stable storage solution. RRMine has storage partners including Dell, H3C, Sugon Technology, etc.
4. More reliable data backup, dual or multi-machine backup mode, such as blockchain backup, and mutual backup mode of node servers. We are also using professional firewalls and professional DDOS attack firewalls, which can effectively resist external attacks.
Seiya Mining Rig
Seiya Mining Rig is the RRMine’s IPFS prototype mining machine. With a 64-core 128-thread AMD processor, multiple Nvidia RTX 2080Ti graphics cards, and large memory, a single Seiya mining rig measured 2TB of effective daily storage capacity on test net.
In the 21-day Space Race, based on the cost of the RRMine mining rig and the total amount of FIL produced, the independent mining rig packaging efficiency was calculated: 4.2GB/hour/$1000, ranking first based on the publicly available data. When the effective storage utilization rate is 100%, the cumulative theoretical output per 10,000 CNY invested by a user will exceed 75 FIL, which means that with the same investment, RRMine’s single-T cloud computing power can yield more FIL. The higher the number of FIL produced, the higher the return of investment.
As for now, RRMine’s IPFS community provides an independent mining rig solution with an effective storage utilization rate of 100%. Now RRMine is continuing to promote technological iterations and expanding distributors worldwide. People are welcome to join in, and become an important part of IPFS distributed storage and continues to help the development of the IPFS ecosystem.
Company: SuperB Grace Ltd
Website: www.rrmine.com
Contact: Reei Wang
Email: pr@superbgrace.com
City: Hong Kong
