The FileCoin protocol has just been launched and it is already experiencing more problems.

Now, the largest miners in the FileCoin storage network have stopped their machines in protest against the protocol's unfair economic model.

According to a report called: “the group's top five miners collectively closed to protest,” information was released that more than 9200 machines in the Zhiheyun Group were shut down, in addition to another 9170 mining machines from Space Cloud.

"The mainnet is online and all the miners are standing there. It really is not a so-called ‘demonstration’, it’s powerless! Mortgage mining! Stupid X PL (head of the protocol lab), Stupid X economic model!" by Lai Chuhang, President of Space Cloud Technology

Filecoin's economic model was no longer good for miners, and after the mainnet was launched the problem reached its crux.

This is because FileCoin cryptocurrency mining needs to mortgage your FIL token, and this mortgage mechanism is divided into two parts: the bulk reward mortgage and the pre-mortgage.

Block reward mortgage means that block rewards earned by miners will be unlocked by linear release within 180 days, so miners can only obtain the full reward after producing blocks.

The pre-mortgage means that miners need to provide FIL for mortgage before encapsulating sectors to ensure that they can complete the industry's promised life cycle and not jeopardize network security due to short-term benefits.

The goal is to keep miners online for a long time, and shutting down the machines will greatly damage the experience of storage users.

The problem is that miners currently have many mining machines, but not enough FIL cryptocurrencies.

This means that miners who have waited for years to run their machines now need to go to the market and buy FIL.

With the cryptocurrency costing $ 32.32 dollars at the time of writing this report, one must assess whether the investment is viable.

According to Zhang Rihe, CEO of Xianhe System, what is at stake is not changing the economic model of the FileCoin protocol.

As he presented in a discussion on the network, the general principle is that miners should earn more tokens than they spend on the average value of the entire network for this economic model to work well.

" If the cake is not cut correctly, the design may turn yellow. This is very serious" by Zhang Rihe, CEO of Xianhe System

Until its launch, the network had captured a computing power of 566.9 GDP, which drew the attention of the crypto community due to its rapid expansion.

However, 4 days later the network has barely developed, increasing by just 23 GDPs, which can be considered quite slow.