Decentralized storage network Filecoin’s expected mainnet launch window has been moved back amid continuing software work and a delay in its testnet schedule.
Developed by Protocol Labs, Filecoin is built on top of the peer-to-peer data storage network InterPlanetary File System (IPFS) and lets users buy and sell unused storage on an open market.
The market operates on the network’s native token, Filecoin. Clients can hire miners to store or distribute data and miners can, in turn, earn rewards by fulfilling the storage requests of clients. Much like Bitcoin, Filecoin miners compete with each other to mine blocks and earn rewards. But in this case, their mining power is proportional to active storage, which incentivizes them to collect and rent out as much storage as possible.
Filecoin conducted one of the largest token sales in 2017 and raised more than $200 million from accredited and institutional investors.
Launch window pushed to June/July
On Dec. 11, 2019, Filecoin launched its Testnet Phase 1, which allowed prospective storage miners, storage clients, and developers to participate in the project’s first test network.
According to its tentative roadmap released that month, the team planned to finish Testnet Phase 1 in late Jan. 2020 and start Phase 2 right away. The mainnet launch, as estimated then, would likely take place in March 2020.
However, Filecoin announced a postponed launch window in its Jan. 2020 update and a further six-week delay in its most recent blog post, which was published on Feb. 19. Its public roadmap chart now shows a tentative start date for Testnet Phase 2 on April 20 and an estimated mainnet launch window between June 15 and July 17.