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Miners on Decentralised Storage Network Compete For 4 Million Token Prize

Miners on Decentralised Storage Network Compete For 4 Million Token Prize

Filecoin, a blockchain-based decentralized storage venture, is formally launching its testnet- House Race to check out the community earlier than the mainnet launch.

As promised, Filecoin will begin its testnet launching competitors. It encourages international miners for the following three weeks to be competing for as much as 4 million Filecoin in prizes to onboard as a lot cupboard space to the community as doable, says the report. The competition begins on August 24 at 10 pm UTC.

The highest 100 miners globally, and the highest 50 miners from every continent, will use the earned Filecoin rewards to jump-start their mainnet mining efforts based mostly on how a lot storage they and the community obtain through the competitors. Individuals also can observe their progress on the testnet most important web site. 

Along with the onboarding storage capability competitors, the 20 largest block reward winners will cut up a prize of a further 100,000 FIL proportionally based mostly on how a lot block reward they win. Greater than 240 miners from six continents are making ready to take part within the competitors prior to now month, says Filecoin.

Molly Mackinlay, IPFS Venture Lead, mentioned, “Filecoin could be nothing with out its strong and passionate neighborhood.” 

Filecoin’s venture raised $257 million throughout its 2017 preliminary coin providing and it’s been creating ever since.

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