Filecoin Launches its Testnet

The open source blockchain project “Filecoin” has launched its testnet. The purpose of the testnet is to benchmark, evaluate and test Filecoin’s protocol before launching the Mainnet which is scheduled to go live on March, 2020.

Filecoin is a data storage network and a cryptocurrency based on Bitcoin. Users can mine and earn Filecoin (FIL) cryptocurrency by using Filecoin mining software that will share their unused storage.

Filecoin project was launched in August 2017 and raised over $257 million within 30 minutes which made it the largest token sale in history at that time. Filecoin also received investment from top venture capitalists in Silicon Valley, including Y Combinator, Naval Ravikant, Andreessen Horowitz, and Winklevoss Capital.

How Filecoin Works?

You can learn more about Filecoin by visiting the official website.

[crypto-donation-box]