Filecash is Filecoin's first pre-fork project. It's an IPFS incentivization layer that will power the Web 3.0 fundamental storage engine, resulting in a fantastic distributed cloud storage platform.
The goal of Filecash is to reduce ecosystem participation through a series of technical optimization schemes and economic model improvements. Some notable improvements include reduced computing resource consumption, lower sealing and storage costs, and the creation of a digital environment for developers, miners, and crypto communities.
Filecash does not use human intervention in the KYC process and instead relies only on algorithmic verifications. Filecash also doesn’t have officially defined “verified data”. Also HotBit has an staking pool for Filecash (FIC) up to 40.00% APR (LINK).
Filecash's current main goal is to extend the number of mining nodes in more countries, as well as the number of miners in more countries.
Another goal of Filecoin is to collaborate with NFT projects so that NFT data can be stored on the Filecoin network.
Filecash mining goal, “the miner should deposit certain amount of FIC token as collateral, during the mining period, if the miner fails to upload messages in time, or if the miner lost the customer’s data by mistake, the system will deduct the certain FIC token from the collateral FIC as punishment.”