This Space Race is not the popular type.
Filecoin, a decentralized storage project that will be using blockchain technology is planning a mainnet launch but it is going to do a testnet before that very soon.
Filecoin is set to fulfil the promise it made earlier about sponsoring a competition to launch its testnet. The competition, which will last for three weeks, demands competitors to add storage spaces, as much as they can. The price will be four million Filecoin. The competition starts tomorrow, Aug 24, when it is 10 PM UTC.
The competition promises to be free and fair as competitors will be able to access their performances on the testnet main website. The rewards will be for the best 100 miners around the world and the best 50 in each continent. The Filecoin obtained by each winner will be used to start working on the mainnet but it depends on what is available on the mainnet after the competition.
Apart from the main prize for competing to add storage space for the mainnet, 20 of the best block reward winners will share 100,000 Filecoin according to each person’s performance. Applications were received from 240 miners from six continents to contest.
This competition was planned to make people more passionate about what Filecoin is planning to do.
Filecoin started raising funds for its storage project since 2017 when it organized an ICO that helped it generate $257 million.