FileCoin gets ready for "Space Race" Incentives Program and announces a new Storage Mining guide

Filecoin is approaching the most awaited lauch of its mainnet, so the developers decided to update us on their progress and give us some great news about the new incentives programme. If you're interested in the storage mining promise of Filecoin, read on...

Space Race

In the path to mainnet launch, our next big milestone is the launch of the Filecoin Testnet Incentives Program - nicknamed the Space Race. This collaborative competition is intended to stress-test the network, encourage participation all over the world, and help miners get ready to run the world’s biggest decentralized storage network. Here’s what you need to know:

• 3-week competition to onboard as much storage capacity as possible to the network.
• The top 100 miners globally & top 50 miners from each continent will share up to 4 million Filecoin in total rewards.
• For a reminder on the rules and eligibility requirements, see our announcement blog post.

The Filecoin mining community is growing rapidly, with miners all over the world onboarding petabytes of storage onto the Filecoin Testnet - which reached a new milestone of 20PB of onboarded storage this week.

Testnet Stats

Total power: 22.3 PiB
Height: 95900

Guide to Filecoin Storage Mining

A lot has changed since our last set of guidelines for Filecoin storage miners was published! Check out this blog post for an updated guide to Filecoin storage mining, as well as an overview of incentives and opportunities for members of the growing Filecoin mining community.

June Q&A Recap

On June 25, 2020, the Filecoin team hosted an AMA with Filecoin founder Juan Benet. Over the course of an hour, we answered 41 questions, covering topics like testnet incentives, the most recent roadmap update, and the path to mainnet launch. Many thanks to all who participated! A summary of the answers from our Q&A is linked here.

June 2020 Roadmap Update

Hardware specs & PoRep for Mainnet Launch. Filecoin will use the SDR Proof-of-Replication algorithm for our testnet incentives competition and for mainnet launch. 

Filecoin’s cryptoeconomic constructions. We made significant progress on defining and solidifying Filecoin’s cryptoeconomic constructions to ensure that the network can support the long-term needs of its clients and provide a solid foundation for Filecoin’s mainnet launch. 

Offline data transfers. For petabyte-scale datasets and larger, the most sensible solutions often involve shipping data on hard drives. Filecoin’s offline data transfer feature allows users with very large datasets to complete the data transfer step offline (e.g. by shipping hard drives from the client to the storage miner), and have the storage and retrieval deals work as intended on-chain.

Upcoming Events

Mining Community Call: July 21st at 6:00pm (PST) Got questions for the team? Ask them here.

Space Race Opening Ceremony: August 3rd. More details coming soon!

*You can find all the details for our upcoming events on Twitter.