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Description
In mid-June, Filecoin executed its Hyperdrive network upgrade, which has increased the storage onboarding rate by 10-25 times! Storage clients and application developers benefit from increased message throughput, improving overall network utility - but the most notable improvement comes for Filecoin storage providers, who will benefit from new economies of scale and faster capacity onboarding rates. Learn about the advantages Hyperdrive has brought to the Filecoin ecosystem in this session.
A
Hi
everyone,
my
name,
is
zx-
welcome
to
foul
coin
orbit.
Today
is
a
celebration
of
one
year
of
final
quest.
I'm
very
excited
to
be
here.
I
work
on
ecosystem
growth
and
I
leave
crypto
econ
that
and
the
theme
of
my
talk
today
will
be
putting
filecoin
and
hyperdrive
huge
increases
in
storage
onboarding.
A
This
is
a
research
talk
mostly
based
on
crypto
economics,
with
data
from
the
falcon
blockchain
data
and
charts
are
provided
by
sentinel
and
starboard.
Huge
thanks
to
both
teams.
Numbers
can
be
wrong,
so
please
do
your
own
research
and
make
your
own
decisions,
and
people
have
different
power.
Belief
and
preferences
dynamic
can
also
be
complex
in
a
blockchain
network,
and
last
but
not
least,
past
action
may
not
be
indicated
by
future
behaviors
without
further
ado.
This
is
like,
let's
dive
right
in
with
a
few
charts
right.
A
This
is
like
one
year
of
falcon
celebration.
I
think
we
achieved
so
much
as
a
community
and
ecosystem
in
the
past
one
year.
I
feel
very
proud
to
be
a
part
of
this
community,
so
falcon
exceeded
this
exponential
baseline
that
we
set
at
the
edit
genesis
so
for
context.
There's
this
baseline.
That
network
needs
to
meet
and
achieve.
A
It
starts
from
2.5
extra
bit
of
storage
at
genesis
and
it
doubles
every
year,
and
so
that
is
the
orange
line
is
actually
exponential
and
the
falcon
network,
the
of
the
exponential
baseline
in
april
and
it's
growing
at
an
increasing
rate
and
red
and
today
falcon
is
the
largest
decentralized
storage
network.
Apart
from
that
people,
the
common
question
always
come
up
is
how
reliable
is
this
storage
on
filecoin?
A
Well,
this
is
this
chart,
then
showing
what
is
the
percentage
of
storage
committed
every
two
minutes
on
filecoin,
as
we
can
see
like
when
the
first
first
bandwidth
network
first
went
live
there
were
some
termination
events,
given
that
it's
pretty
unstable,
it's
a
new
network.
I
think
it's
understandable
and,
as
more
storage
are
onboarded
there's
like,
then
you
can
see
this
percentage
termination.
A
Actually
goes
down
to
a
pretty
low
level,
although
I
must
point
out
this
is
not
exactly
a
reliability
metric
because
there
are
many
other
dimensions
to
it,
depending
on
the
minor
cert
providers
as
well.
There
are
many
teams
working
on
more
granular
metric,
but
it
seems
like
fairly
reasonable
and
then
there's
also
massive
demand
for
using
the
falcon
network,
as
we
can
see
from
the
daily
base.
The
snapshot
pre-hyper
drive
right,
like
this
is
the
same
mechanism
as
it's
a
very
similar
mechanism
to
ethereum
erp
1559.
A
You
see
like
lots
of
spike
in
the
demand
very
active
network
people
are
using
network
to
provide
storage
services
and
also
to
consume
storage
services,
and
just
to
recap,
on
some
of
this
concept
for
people
who
are
less
familiar.
What
is
gas?
What
is
basically
all
this
stuff,
so
gas
really
is
a
very
common.
It's
a
common
concept
in
blockchain.
It's
a
measure
of
computation
and
storage
resources,
consumed
by
messages,
and
then
there
are
a
few
like
the
json
concept
or
derived
concept.
One
is
the
gas
limit.
A
It
applies
to
both
the
mid
message
and
also
the
block
right.
So
each
message
may
consume
up
to
this
amount
of
resources,
this
amount
of
gas
limit
and
then
for
all
the
blocks
it
can
consume.
You
can
consume
up
to
this
amount
of
gas
as
well.
So
when
people
say
the
blockchain
is
congested,
sometimes
what
it
means
is
that,
oh
all,
the
messengers
are
using
all
the
gas
in
the
block
right
and
then
this
is
well.
Gas
usage
is
self-explanatory.
A
This
is
basically
the
amount
of
gas
which
some
unit
of
accounting
that
a
message
has
used
up
and
then
fee
cap
fee
cap
is
basically
just
a
ux
thing.
This
is
how
much
I'm
willing
to
spend
per
message
and
then
that
you
don't
need
to
worry
about
the
rest
of
it
and
there'll
be
a
gas
premium,
which
is
the
priority
fee
that
is
paid
to
the
miner
for
including
your
message
and
then
what
is
the
space
fee
thing?
So
it's
both
basically
on
a
high
level.
A
It's
a
poster
price
mechanism
that
improve
the
user
experience,
so
I
think
you
can
think
of
it
as
like.
There's
a
there's
a
highway
and
there's
toe
on
the
road
right
like,
and
this
this
toe
is
kind
of
dynamic
based
on
the
relative
supply
and
demand
of
the
road
itself
is
very
congested.
The
price
may
go
up
if
you
think,
oh,
that
is
too
expensive
for
me.
I
don't
want
to
take
it.
A
Then
you
like
wait
for
a
bit
or
you
get
on
the
bus
right,
like
you,
do
some
kind
of
aggregation
to
like
to
reduce
the
the
the
expense.
So
basically
it's
basically
it's.
Basically
this,
like
tow
rate
on
the
highway
in
some
sense
right,
like
it's
spiky
when
demand
is
spiky,
and
then
it
grows
exponentially
to
find
this
equilibrium
quickly
and
people
may
back
out
right.
A
A
So
as
we
can
see,
some
cumulative
chart
right,
like
in
terms
of
cumulative
network
fee
firefighting
process,
28
million
file
coin,
comparing
to
the
rest
of
web3,
is
really
among
the
top.
As
we
can
see
from
this
chart
on
token
terminal
and
then
there
is
also
a
file
coin-
total
collateral
log.
It's
also
crossing
120
million
file
coin
in
just
a
matter
of
days.
So
where
does
that
really
put
us
right?
We
are
not
on
the
chart
yet,
but
like
well.
A
Even
falcon
is
not
like
a
d5
protocol
by
this
traditional
total
value,
log
metric,
it's
also
among
the
top,
so
very
strong
macroeconomic
statistics.
I
feel
very
proud.
Well,
we
are
very
proud
about
your
chief
as
a
community,
but
strong
demand
is
not
all
sounding
good
writing
economics.
There's
always
the
few
sides
to
the
coin
right
like
so.
It's
also
also
means
expensive
to
participate
right.
This
is
very
common
complaint
in
the
ethereum
world,
where
oh,
it's
it
costs
us
like
so
expensive
to
make
this
transaction
and
remember
falcon,
is
about
utility
right.
A
It's
about
empowering
businesses
and
making
blockchain,
useful
and
mainstream,
and
so
huge
kudos
to
the
team.
Who
actually
did
this
hybrid
upgrade
less
than
eight
about
eight
months
into
the
network
that
increased
the
network
throughput
or
sometimes
people
called
it-
the
tps
by
1025x
right?
This
is
this-
includes
research,
development
and
deployment,
so
huge,
huge
kudos
to
the
team,
and
this
is
done
through
innovation
in
underlying
technology.
A
So
hyperdrive
basically
reduces
this
like
unit
storage,
gas
usage.
Well,
as
we
can
see,
you
cannot
aggregate
sector.
That's
why
it's
called
hyperdrive
for
each
message
can
contain
like
more
sectors,
so
you
increase
the
throughput
in
the
of
the
chain
through
this
kind
of
aggregation
of
snarks,
of
zero
knowledge.
Proof
right,
so
you
can
go
up
to
800
sector
aggregation
and
there's
this
very
obvious
reduction
in
like
in
the
gas
usage.
As
we
mentioned
earlier,
the
base
transaction
fee
is
the
gas
usage
multiplied
by
the
base
fee.
A
There
are
a
few
combats
here.
We
don't
want
to
like
go
down
too
much
into
the
details,
and
then
there
are
some
other
new
concepts
that
were
introduced
to
just
like
to
address
some
of
these
incentive
issues.
So
two
of
these
are
the
batch
balancer
and
the
batch
discounts
right.
They
produce
provide
this
kind
of
balancing
dynamic
for
the
base
b
based
on
the
network
demand.
A
The
unit
economics
actually
favor
just
adding
single
proof
that
use
more
gas
and
the
base
fee
catches
up
to
some
level,
which
is
what
we
call
the
crossover
base,
the
original,
which
is
this
eq
equilibrium.
Then
you
start
to
see
this
shift
in
the
human
economics
right.
It's
actually
more
favorable
to
aggregate
that
will
free
up
more
of
the
chain
capacity
and
then
bring
the
base
feed
down
and
makes
it
cheaper
and
in
the
event
that,
like
it
becomes
so
extensive,
even
though
we
don't
think
you
will
reach
this
level.
A
Well,
you
might
but
it's
it's
well.
People
can
always
aggregate
to
free
up
more
capacity
because,
basically,
as
we
mentioned
earlier,
it's
a
result
of
relative
supply
and
demand
of
the
network.
So
then,
when
people
it
will
aggregate
even
more
and
you
free
up
even
more
change
capacity
and
further
reduces
the
base.
A
So
let's
take
a
look
at
some
of
this
result
of
the
hyperdrive
and
see
how
the
key
metrics
perform
right.
So
here's
is
the
base
b
snapshot
where,
as
we
can
see,
the
daily
base
b
has
come
down
very
significantly
with
much
lower
variance
right
like
and-
and
this
is,
as
mentioned
in,
like
professor
of
gardens
paper
right,
whichever
price
is
covered
mechanism
reviews
it
will
that
it
does
not
really
adjust
like
how
high
the
base
female
that
is.
A
Actually
that
is
actually
a
scalability
issue,
and
this
is
exactly
that
right
because
we
introduced
the
protocol
introduced
a
10
25
x,
increase
in
the
supply
of
this
capacity,
which
is
quite
unheard
of
in
the
in
the
web
3
world.
Right,
like
this
kind
of
like
actual
scalability
improvement.
That
is
enabled
through
underlying
technological
innovation,
and
I
feel
very
excited-
and
I
can't
wait
to
see
like
what
other
you
guys
will
hear
a
lot
more
about
all
these
new
other
development
that
the
teams
are
working
on,
so
it
so.
A
The
direct
result
of
that
is
it's
much
much
cheaper
to
provide
storage
on
firecoin.
This
is
the
chart
on
the
unit
sector
addition
cost
secretary,
just
a
unit
of
providing
storage
on
filecoin
right.
It
was
like
very
spikey
and
pretty
high
and
then
like
with
hyperdrive,
upgrade,
becomes
way
cheaper,
much
lower
variance,
provides
storage
on
file
coin
and
then
the
storage
onboarding
has
almost
doubled.
A
So
this
is
a
very
good
result
and
because,
from
the
previous
chart,
it's
like
so
much
cheaper
to
add
storage
today,
right,
there's
still
lots
of
potential
to
grow
in
terms
of
storage
onboarding,
and
then
we
look
at
how
we
remember
the
number
just
now
we
mentioned
right
like
we
can
aggregate
up
to
800
sectors
per
message,
and
then
we
want
to
look
at.
What
is
this?
A
It's
it's
also
growing
exponentially
in
terms
of
the
number
of
active
falcons,
plus
the
the
the
size
of
active,
falcon
plus
deals
on
the
network,
just
to
also
recap
a
bit
more
about
like
the
the
dynamic
in
terms
of
the
block
rewards.
Now
that
we
are
past,
the
baseline,
like
baseline,
is
actually
another
innovation
that
the
crypto
econ
team
has
done,
which
is
also
it's
basically,
a
kpi
driven
minting
mechanism,
we're
seeing
that
big
getting
more
and
more
adopted
across
the
web3
world.
Now
that
we
are
above
the
baseline.
A
Basically,
what
that
means
is
that
we
have
the
network
as
a
whole
has
achieved
the
kpi.
So
we
follow
this
traditional
bitcoin
style
minting,
which
is
like
there's
a
fixed
total
pool.
It
means,
according
to
how
much
power,
whether
it's
hash
rate
or
storage,
that
is
on
the
network.
Each
storage
providers
are
earning
proportional
to
the
share
of
the
quality
of
just
the
power.
So
what
that
means
is
if
storage
providers
are
adding
more
than
the
network
average,
they
get
ahead.
A
A
Storage
providers
should
increase
the
qap
as
much
as
possible,
and
they
can
do
that
through
the
two
of
the
following
ways:
either
through
stealing
more
falcon
plus
deals
that
give
them
10x
and
the
quality
adjusted
power
and
or
they
can
steal
more
new
committed
capacity
sectors
and
just
to
remind
just
to
go
over
that
again.
The
two
charts
aggregation
is
still
somewhat
underutilized.
A
Where
there's
huge
potential
here,
massive
gain
to
go
from
like
an
average
of
25
sector
in
an
aggregation
message,
we
can
get
closer
to
800
and
the
beauty
of
the
balancer
and
discount.
Is
that
even
if
you
onboard-
let's
say
10x
of
the
storage
as
it
is
today
right
because
of
this
balancing
dynamic,
the
incentive
is
to
aggregate
you
might
still
observe
the
similar
or
similar
amount
of
basic,
which
means
that,
like
the
the
unit
cost
of
adding
a
sector
can
can
remain
relatively
relatively
flat
and
predictable.
A
The
second
big
opportunity
and
big
potential
here
really
is
to
onboard
more
falcon
plus
to
make
more
falcon,
plus
deals
and
then
and
from
one
point,
two
petabytes
to
like
500
petabytes.
This
is
a
massive
increase
and
just
to
review
this,
like
stages
of
of
the
economy
that
we
talked
about
when
we
a
year
ago
when
we
first
launched
a
network
where
I
think
we
are
way
past
stage
one
and
all
these
blockchain
networks
and
economy,
they
are
evolutionary
system
right.
We
really
pass
stage
one.
A
We
build
the
capacity
of
your
optimizing,
the
workflow
proof
secure
proof.
We
demonstrate
the
storage
is
reliable
and
then
we
are
now
kind
of
like
in
stage
two,
where
this
utility
is
growing
very
rapidly.
The
chain
become
more
scalable
with
hyperdrive
reduced
cost
and
then
like
more
efficient
proof
right
because
of
the
smart
aggregation
with
people
starting
to
work
on
retrieval,
making
it
more
efficient
in
terms
of
the
minting
you
have
both
the
simple
and
the
baseline
meeting
working
together
right.
A
So
this
is
where
we
are
in
the
bitcoin
minting,
dynamic
and
people
are
starting
to
work
on
quality
of
service
and
trying
to
attract
paying
customers.
So,
from
my
point
of
view,
we
talked
about
this
in
some
other
talks.
Right,
like
affordable
storage
at
scale
on
firecoin
should
be
a
given,
but
I
don't
think
like
for
our
community
ecosystem
to
succeed.
It
shouldn't
be
just
about
cost,
or
you
should
really
about
that
experience
and
I
think
far
coin
is
really
unique
among
all
the
layer.
A
One
protocols,
because
we
we
bring
in
this
entirely
new
building
block
verifiable
storage
at
scale
with
proof
right,
there's
bound
to
be
something
some
unique
experience
that
we
can
create.
There
are
many
talks
are
on
this
and
there
are
many
many
teams
working
towards
this
stand
mission.
I
feel
very
honored
and
very
proud
to
be
working
in
the
same
direction
with
you
guys
and
lastly,
just
to
recap
some
of
the
key
takeaway.
A
It's
really
a
record
setting
here
for
filecoin,
even
though
it's
just
our
first
year
and
we're
just
really
just
getting
started.
It's
the
largest
decentralized
storage
network
with
reasonable
reliability,
guarantee
very
strong
macroeconomic
statistics
in
terms
of
like
political
revenue
and
value
value
log.
It's
also
one
of
the
fastest
scalability
upgrade
that
I've
seen
in
the
past,
like
five
or
six
years
in
working
in
web3
right,
and
it's
also
done
through
underlying
research
and
and
development
right.
A
There's
still
like
another
big
big
step,
orders
of
magnitude
increase
ahead
of
us
and
last
but
not
least,
we
are
in
this
cooperative
and
competition
kind
of
landscape
of
all
the
participants.
We
are
all
incentivized
to
outpace
the
network
and
with
that
happy
one
year
of
our
coin
and
let's
continue
to
make
history.
Thank
you.