3 years after its ICO, the Filecoin project (FIL) announces the launch of its mainnet

Filecoin (FIL), a decentralised and open source storage network, is due to launch its mainnet on 15 October. This launch comes more than 3 years after the platform raised more than 250 million dollars at an ICO.

The long wait for Filecoin comes to an end

The Filecoin digital file storage protocol finally reaches a launch date for its mainnet. It will be put online in block 148,888, i.e. on 15 October next according to estimates.

Initially, Filecoin’s mainnet was to be launched in March this year, but has been delayed several times due to the difficulties caused by the Covid-19 crisis.

Designed as a decentralised alternative to Amazon Web Services, Dropbox or Google Drive, Filecoin allows users to buy and sell unused storage in exchange for FIL tokens, the protocol’s native cryptography.

Thus, the Filecoin protocol allows you to host your files on other people’s computers instead of sending them to centralized servers. In addition, all files and information sent by Filecoin are encrypted in order to preserve user confidentiality.

“…] We’ve built something together
incredible over the last 3 years. Launching a blockchain is like launching a rocket, and it took a whole interplanetary community to get here. Thank you for being part of this epic journey! “said the Filecoin team.

Indeed, Filecoin’s public launch comes more than 3 years after a colossal Initial Coin Offering (ICO) of nearly $258 million, which was closed in 30 minutes due to its unprecedented success.

Filecoin is already receiving strong support from the crypto-sphere.

According to the publication on his blog announcing the arrival of the
mainnet, the Filecoin project attracted more than 400 miners this month for its “Space Race” test phase. During this testnet event, the measured storage capacity of the network is impressive:

“Over the past 4 weeks, more than 400 miners from 34 countries and 6 continents have loaded an astonishing 325 Pebibytes [Pebibyte] of storage capacity onto the Filecoin network. That’s enough space for 90 million 1080p films, 1,400 full copies of Wikipedia, or 7 times the totality of mankind’s written works (in all languages) from the beginning of history to the present day,” says the team.

In addition, Filecoin’s ecosystem is already quite complete, with more than 85 organisations currently collaborating on the development of the protocol: creation of applications, development tools, infrastructure and more. To date, more than 230 projects and more than 1,000 contributors have already turned to Filecoin.

Approximately 3.5 million FIL tokens will be distributed to those who have participated in these testnets. At the time of writing, the FIL tokens exchanged through an IOU (I Owe You) have reached the price of $18.

Altcoin seems to have a bright future, the Filecoin network being carried by important miners based in China. These miners have massively participated in the project’s various testnets and represent more than 85% of the network’s storage space.

Representing the 5th largest ICO in history, the expectations for the Filecoin network’s functionalities are high. As the FIL token is used as an engine for storing files with third parties, this token is a real utility. It remains to be seen whether Filecoin will find its audience or not.