After 3-years the primary $205 Mln ICO [Initial Coin Offering], Filecoin has finally revealed that its live network is close to launching.
According to a recent official announcement published, the blockchain-based storage provider revealed that the mainnet will launch at block 148,888, presently expected on 15th Oct.
Developed as a decentralized alternative to AWS or Cloudflare, a data retrieval service, Filecoin raised $205 Mln within its earlier 2017 token sale – the foremost raised in an ICO at that time.
Having originally committed itself to a mainnet launch in the mid of last year, the project has sustained industry interest with 230 projects & 1,000 developers set to start work on Filecoin when live.
Over 400 miners from around the world participated within this month’s “Space Race” testnet phase where network data capacity increased by over 325+ pebibytes – 7x times the complete written works of mankind, altogether languages.
However, within the coming weeks, the project added that it’ll continue adding storage, optimize operations, and undergo final tests, also as permitting community members to organize their own systems before the launch.
Around 3.5 Mln native FIL tokens – employed to purchase & sell storage on the network – are going to be distributed to Space Race participants.
As Filecoin has refused to mention anything that would sway FIL’s initial price, it’s still anonymous what proportion the 3.6 Mln tokens could be worth in dollar terms.
In line with the Filecoin block explorer Filfox, the network had reached a block height of 100,157 at the time of reporting.