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Filecoin Announces October Mainnet Launch

Filecoin Announces October Mainnet Launch

Filecoin, the storage network that is using decentralization to make the web more secure and efficient announced its mainnet launch dates. This deserves a special celebration as the project is designed to be a decentralized alternative to storage services like AWS. According to a post on 27 September, Filecoin mainnet will go live at block 148,888. At the time of press, Filecoin block height is 101,660 and the average block time is 30 seconds. Based on this data, the mainnet is expected to launch on October 15.

In 2017, the Filecoin raised $205M in the token sale and became one of the most successful ICO’s. This is a huge milestone for the project as it marks the culmination of hard work put in by the team in the last 3 years.

Filecoin mainnet

Source: stats.testnet.filecoin.io

Filecoin test-drive results

On August 24, the project launched Space Race, the 3-week competition to stress-test the network. It also provided miners an opportunity to test the network prior to mainnet launch. In addition to that, Space Race encouraged global participation in the network. Over 400 miners participated in the Space Race and pushed the network data capacity to 325+ pebibytes.

Furthermore, Space Race participants will receive approximately 3.5 million native Filecoin tokens (FIL). These tokens are used to buy and sell storage on the network.

Prior to this, Filecoin also helped miners prepare for the Space Race with a one-month long calibration Devnet. Most of the miners reached a 97% success rate on their retrieval deals.

Sustained interest

The mainnet was expected to go live in mid-2019 but it continued to harden the network. The main focus areas were:

1) Hardening the lifecycle of storage
2) Firming the retrieval deals
3) Ability to upgrade committed space with real deals
4) Store multiple deals in one sector
5) Request fast-retrieval from miners
6) Exchange Filecoin for successful deals via payment channels

In spite of mainnet launch delays, the project was able to keep the industry interested. It rolled out 230 projects in the last 3 years and has an excited army of 1,000 developers waiting for the project to go live.

According to the August update Gemini, Coinbase, and Anchorage will support custodianship of Filecoin tokens at mainnet launch. Furthermore, Anchorage will support unlocking contracts for Filecoin at launch.

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