The much-awaited Filecoin mainnet launch has been confirmed for October. The network will go live at block 148,888, which is expected to occur on October 15.
Three years after its huge initial coin offering (ICO), the network is finally going live in October.
Filecoin mainnet launch
Filecoin mainnet launch has been confirmed for October and will take place on block 148,888, according to the blockchain service provider.
Filecoin is designed to serve as a decentralized alternative to popular web service providers such as Cloudflare or Amazon Web Services. Filecoin will offer data retrieval services based on a blockchain ledger.
Filecoin conducted an ICO in 2017, raising $257 million, the most raised in an ICO at the time. Originally, the firm planned to launch its mainnet in mid-2019. However, the launch date was delayed to late-2020.
Filecoin mainnet launch will be accompanied by 230 projects and 1,000 developers set to work on the network.
Space Race testnet
Filecoin’s Space Race testnet garnered much attraction as more than 400 miners from across the globe participated. The computing power allowed the network’s data capacity to surpass 325 pebibytes.
The project has stated that the team continues to work on storage, operations and will optimize the network in the coming weeks. Furthermore, the project will begin allowing community members to prepare their own systems prior to the mainnet launch.
After the testnet has concluded, participants will receive a total of 1.5 million FIL tokens native to the Filecoin network. Filecoin has not disclosed its estimation of FIL’s initial price. As such, it is hard to gauge the value of the 1.5 million FIL tokens. At press time, the network’s block height is 100,432.