3 years after its ICO, the Filecoin project (FIL) announces the launch of its mainnet

Filecoin (FIL), a decentralized and open source storage network, is expected to launch its mainnet on October 15. This launch comes more than 3 years after the platform raised more than $ 250 million during an ICO.

Long wait for Filecoin comes to an end

The Filecoin digital file storage protocol is finally coming to a launch date for its mainnet . It will be put online at block 148 888 , or on October 15, according to estimates.

Initially, Filecoin’s mainnet was supposed to launch in March of this year, but has been repeatedly delayed due to difficulties caused by the Covid-19 crisis.

Designed as a decentralized alternative to Amazon Web Services , Dropbox or even Google Drive , Filecoin allows its users to buy and sell unused storage in exchange for FIL tokens , the native cryptocurrency of the protocol.

Thus, the Filecoin protocol allows your files to be hosted on other people’s computers instead of sending them to centralized servers. In addition, all files and information sent by Filecoin are encrypted to maintain user privacy.

“[…] We have built something amazing together over the past 3 years. Launching a blockchain is like launching a rocket, and it took an entire interplanetary community to get there. Thank you for being a part of this epic journey! Said the Filecoin team.

Indeed, the public launch of Filecoin comes more than 3 years after a colossal Initial Coin Offering (ICO) of nearly $ 258 million , which was closed in 30 minutes due to its unprecedented success.

Filecoin is already receiving significant support from the crypto-sphere

According to his blog post announcing the arrival of the mainnet, the Filecoin project attracted more than 400 miners this month for its “Space Race” testing phase . During this testnet event, the measured network storage capacity is impressive:

“In the past 4 weeks, over 400 miners from 34 countries and 6 continents have shipped an astonishing storage capacity of over 325 PiB [Pebibyte] into the Filecoin network. That’s enough space for 90 million 1080p movies, 1,400 full copies of Wikipedia, or 7 times the total of mankind’s written works (in all languages) from the beginning of history to the present day. days, ”says the team.

In addition, the Filecoin ecosystem is already quite complete, with more than 85 organizations currently collaborating for the development of the protocol : creation of applications, development tools, infrastructures and others. To date, over 230 projects and over 1,000 backers have turned to Filecoin.

Around 3.5 million FIL tokens will be distributed to those who participated in these testnets. As of this writing, FIL tokens exchanged through an IOU (I Owe You) fetch a price of $ 18 .

Altcoin seems to have a bright future, the Filecoin network being supported in particular by major miners based in China. They participated massively in the various testnets of the project and would represent more than 85% of the storage space of the network.

As the 5th largest ICO in history , the expectation around the functionality of the Filecoin network is high. The FIL token serving as an engine for storing files with third parties, it is a real utility. It remains to be seen whether or not Filecoin will find its audience.

This entry was posted on 29. September 2020, in Bitcoin. Bookmark the permalink.