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Filecoin Mainnet Launched In October: How Can This Affect Crypto Mining? - Binaryx

Filecoin Mainnet Launched In October: How Can This Affect Crypto Mining?

Filecoin, a promising ICO project that raised a record $257 million in investment, is finally seeing the world. Why is this network so attractive to investors, and what benefits will users get?

Three years of development and promising forecasts

The developers have named the launch date of the Filecoin mainnet – the release of one of the largest ICO projects is to take place on October 15. This decentralized blockchain platform is designed for data storage, has its own FIL cryptocurrency, and, according to the creators’ plan, should overtake popular web resources such as Cloudflare or Amazon Web Services.

Thanks to Filecoin, miners can use free space on the hard disk of other network users’ software, while their initial data is recorded in the blockchain. For storing data, owners of hard drives will receive a reward in the form of FIL tokens from miners. Thus, the algorithm of the platform is mutually beneficial for both parties.

The innovativeness of this project attracted the attention of investors. In 2017, in just a few days of FIL presale $257 million was invested in platform development. At that time, this was a record amount within the entire ICO sector. But the Filecoin network repeated the scenario of other large projects: a systematic postponement of the launch, technical improvements shifted the launch date from 2019 to the second half of 2020.

To support the functioning of the Filecoin network after launch, the company has already attracted about 1000 developers.

Filecoin network testing

The test version of Filecoin has already received the first positive reviews: technical analysts predict that thanks to this network, miners will be able to reduce the cost of computing power. Filecoin’s throughput is found to be over 325 pebibytes.

More than 400 miners from different countries of the world were involved to analyze network performance. The developer company promised Filecoin miners-testers to issue a reward of about 1.5 million FIL tokens. It is not surprising that the excitement around the platform is heating up because some of the most productive miners will receive new tokens. At the time of this writing, the block height in the blockchain is 102,049, while the launch of Filecoin is planned at block 148,888.

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