Blockchain-based decentralized data storage solution Filecoin unveiled its incentivized testnet recently, complete with a competition, prior to its mainnet launch.
Filecoin’s test network will host a three week mining contest worldwide, with 4 million of the project’s FIL tokens up for grabs as prize funding, In an act of network experimentation.
Calling #miners from all over the 🌍. Get ready for Filecoin's testnet incentives program — compete to earn global and regional pools totaling up to 4 million Filecoin tokens. Learn more here: https://t.co/y9c9I1wgbW — Filecoin (@Filecoin) June 9, 2020
Filecoin has completed other trials prior to the testnet unveiling.
The project also transitioned into Proof-of-Replication as well as implemented a number of other developments.
The testnet trial holds as Filecoin’s last experimental stage prior to its mainnet going live.
Taking into account the amount of space given to the operation during the trials, the tesnet competition pays out the best 100 miners in the world, according to the amount of capacity those miners lent to the network adding that each continent’s leading 50 miners also receive prizes.
Filecoin’s head of operations, Ian Darrow, noted:
“The testnet is designed to build, educate, and reward the early community of Filecoin miners who will help prepare the entire network for a healthy, decentralized and widely distributed mainnet launch this summer.”
Darrow also noted the contest as a great place for miners of all experience types and levels to get involved.
Filecoin garnered around $257 million during its 2017 Initial Coin Offering, or ICO.
Source: Cointelegraph | Image: Unsplash