What is the Filecoin Space Race?
The Filecoin Space Race is a thrilling competition initiated to launch the decentralized storage project’s testnet. Set to kick off on August 24 at 10 PM UTC, it invites global miners to join the fray and compete for an enticing pot of four million Filecoin. It’s the ultimate rehearsal before the grand performance, aka the mainnet launch, where miners can showcase their prowess in onboarding storage space for the network.
Competing for Glory and Fil
During this epic three-week event, uncover the opportunity for miners to strategically position themselves in the ranks. The top 100 miners in the world, alongside the top 50 from each continent, will earn rewards based on their performance. These rewards aren’t just for show; they serve as a launchpad for the mainnet mining efforts. The more storage space they can bring to the table, the higher their chances of reaping these sweet, sweet rewards!
Tracking Progress Made Easy
Curious observers can keep an eye on the competition’s progress through the testnet’s dedicated main website. Yes, you can watch your friends struggle in their quest for glory from the comfort of your couch!
More Than Just Storage: Block Reward Bonanza
In addition to the storage onboarding contest, there’s a cherry on top: the top 20 block reward winners can slice up a casual prize of 100,000 FIL. That’s right, they’ll be swimming in rewards based on how much block reward they manage to claim. It’s like winning at poker, except instead of chips, it’s cryptocurrency!
The Buzz Around Participation
The excitement is palpable, with over 240 miners gearing up from six continents to spice things up. The enthusiasm reflects the project’s robust and passionate community. Molly Mackinlay, IPFS Project Lead, aptly stated,
“Filecoin would be nothing without its robust and passionate community.”
A Bright Future: Filecoin’s Journey
Originally raising a whopping $257 million during its 2017 initial coin offering, Filecoin is more than just a dream; it’s a work in progress that’s gaining momentum. With the Space Race, the project solidifies its foundation while demonstrating the power of community in driving technological innovation.
