Bitcoin

Miners in a decentralized storage network compete for a price of 4 million tokens

Filecoin, a blockchain-based decentralized storage project, is officially launching its test network competition to test the network before the main network or “main network” starts.

As promised, Filecoin launches its testnet launch competition. Encourages global miners over the next three weeks to compete for up to four million Filecoin prizes to add as much network storage space as possiblesays the report. The competition starts on August 24th at 10pm UTC.

The world’s top 100 miners and top 50 miners from each continent will use the Filecoin rewards earned to boost their mainnet mining efforts based on the amount of storage they and the network achieved during the competition.. People can also track their progress on the Testnet website.

Miners in a decentralized storage network compete for a price of 4 million tokens
Miners in a decentralized storage network compete for a price of 4 million tokens

In addition to the competition for storage capacity The 20 largest block reward winners share an additional prize of 100,000 FIL in proportion to the block reward won. According to Filecoin, more than 240 miners from six continents are preparing for the competition in the past month.

Molly Mackinlay, IPFS Project Leader, said, “Filecoin would be nothing without its strong and passionate community.”

The Filecoin project The company raised $ 257 million during its initial coin offering in 2017 and has continued to develop since then.

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