INTRODUCTION | FilSwan Auto-Bid and the Reputation System

Currently, the largest distributed storage network Filecoin has a network-wide effective storage space of 17EB. The demand for Web3 data storage has begun to increase, and a large amount of data has been stored in the Filecoin network. It is of great significance to find a suitable storage service provider when storing data. User storage of data to the Filecoin network is mainly divided into the following steps:

1. Pack the data file into a Car file
2. Find the suitable storage service provider
3. Pay the fee and send the data to the storage service provider
4. The storage service provider stores the file in the Filecoin network and returns the storage proof

In this process, users need to find a suitable storage service provider. However, the current storage service provider market is still opaque, lacks an evaluation mechanism, and has few choices for users. FilSwan’s bidding system can solve this problem.

What is Auto-Bid?

The process of user storage data bidding is mainly divided into bidding tasks (Auto-Bid) and non-bidding tasks.

Non-bidding tasks require users to bid manually, that is, users and storage service providers agree on details such as data files and deal prices offline, and then process tasks on the chain. This requires users to find a storage service provider by themselves, which is more suitable for users with long-term or large data storage requirements.

Nevertheless, in the Auto-Bid mode, storage service providers compete with each other. The Swan platform automatically matches according to the previous service quality of the storage service provider to help users store data.

There are many advantages to Auto-Bid. First, it is convenient for users with short-term or small-amount data storage requirements. Secondly, the introducing of a competition mechanism — the Reputation System — enables users to obtain storage services from stable storage service providers, therefore ensuring data storage stability and security, which is also convenient for users to retrieve or conduct other operations later. Overall, the Auto-Bid keeps users away from the hassle of seeking service providers and is friendly to novice users.

The Auto-Bid is an order receiving function mainly designed for storage service providers. Cooperating with FilSwan’s Reputation System to evaluate the service quality of storage providers, it could send data storage orders in a more reasonable way.

Auto-Bid has already been integrated into the Swan Provider. Storage service providers could install the Swan Provider, register on the Swan platform, and start using the Auto-Bid function after configuring the Swan Provider.

The core of Auto-Bid: the Reputation System

The Reputation System is a scoring mechanism set up by FilSwan to evaluate the service quality of storage service providers. It integrates multiple parameters including the deal success rate, the provider’s geographical location, computing power, verified transactions, sector failure rate, and activity, and generates an overall ranking and a quantitative evaluation of storage provider nodes. The reputation score calculated is a significant parameter reflecting the reliability of the storage service provider.

Reputation Score(100 points) = Time-based Reachability (60% weight)+ Regional Weighted Adjusted Power(30% weight) + General Deals and Verified-Storage Provider Deals(10% weight)

Time-based Reachability: measures the times of successful and failed requests when storage providers are scanned

Regional Weighted Adjusted Power: measure the weight of the miner in the region and the weight of the number of miners in this region

General Deals and Verified-Storage Provider Deals: measure all valid transactions of a storage provider, also taking into account sector failure rate

After the user sends the storage bidding task deal through the Swan platform, the Swan platform matches the deal through the reputation system with the high-quality storage service provider. The storage service provider can download the deal data to the local, and write it into the sector to complete the data storage. The final storage result is returned to the user, and the reputation score of the storage service provider will also change accordingly.

It is worth noting that the storage orders evaluated in the reputation system are not limited to the user’s deals on the Swan platform, but also general deals, hence a higher overall evaluation accuracy.

Contact Us

Email: team@filswan.com

Follow Us On

· Discord: https://discord.com/invite/KKGhy8ZqzK

· Telegram: https://t.me/filswan

· Twitter: https://twitter.com/0xfilswan

· GitHub: https://github.com/filswan

· FilSwan Website: https://filswan.com/

· YouTube: https://www.youtube.com/channel/UCcvrZdNqFWYl3FwfcHS9xIg

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FilSwan

FilSwan

FilSwan is a cross-chain layer2 platform that enables developers to integrate decentralized storage, edge computing, and payment with ease and security.