What are the key messages from the Filecoin Space Race opening ceremony?

This article was originally written by IPFS Force Zone

On August 27, 2020, Beijing time, the opening ceremony of the space race began on the YouTube channel at 6 a.m.

Replay link: https://www.youtube.com/watch?v=px3WJ6qWZSM

The following are the key messages from the opening ceremony:

Juan: Review of Filecoin development

Over the past 80 years, the development of the Internet has changed human society. With the Internet and computers, people can live and work together more extensively, no matter when and where.

At present, the Internet has penetrated every corner of society, and a large number or even most of human activities are closely connected with the Internet. While the Internet is becoming more and more important, the "centralization" it brings has also caused destructive effects - non-free speech, information leakage, piracy...

Therefore, IPFS and Filecoin were born to solve various problems arising in the existing Web2.0 era, build a secure and decentralized network for important human data, and jointly build Web3.0.

Now, Filecoin has reached the Space Race stage, and once everything is completed, the mainnet will be launched soon. During this period, we have achieved many amazing results - a growing miner team, more and more DAPPs, and so on.

In the Filecoin network, the five major roles of clients, miners, and coin holders can interact with each other, all in different ways to achieve the same goal, and jointly build, influence, and expand the entire network in different ways.

So far , the space race has reached a scale of 20PiB, with an average growth rate of 70TiB; according to this data, if the main network is launched, we may be able to harvest 3EiB of storage within a year!

Although the success rate has not yet reached the 80% requirement, it is still improving; there are more than 200 active miners worldwide, distributed in six continents. This information once again reflects the development of the Filecoin network.

Michelle: Space Race Review

Filecoin officially holds the Space Race, and its purpose remains the same as always: to prepare for the main network through network stress testing and optimization and improvement .

The competition will last for three weeks and provide 4.1 million FIL rewards, including: a computing power competition with 4 million FIL rewards and a block production competition with 100,000 FIL rewards.

The judging criteria for this competition are:

Original value computing power ranking
Transaction success rate - both storage and retrieval must reach 80%
Sector lifecycle - ensuring miners can upgrade their committed capacity to effective storage
(New) Block Rewards - The current competition reward mechanism is equivalent to the main network

In the past 48 hours, more than 20 countries participated and stored 15+PiB, successfully unlocking 200,000 FIL global rewards. (Asia leads~)

At the same time, the official appeal: Currently, only less than 1/3 of the miners in the competition have completed registration, and the deadline is 4:00 am Beijing time on September 1st. Miners, please hurry up and complete the registration!

Ian: FAQs

Q: Can I join forces with other miners?

A: You can join up to 15 other miners to form your joint node. All must be controlled by the same company or person. You can complete the registration by sending the miner number and name to [email protected] through the same email address.

Note: Node merging ends at 6:00 am on September 3rd, Beijing time

Q: How do you ensure the fairness of the competition?

A: It can be divided into the following points:

Check all transactions attempted by the bot for evidence of problems with Lotus or the bot code;
Monitor Slack and investigate any issues reported by miners;
Give miners as much problem-solving assistance as possible;
Make adjustments based on the needs of the competition .

Space Race Event Overview

You can find that the previous official activities have been adjusted to some extent. The following are the latest activities:

Week 1

Ming Workshop
Opening Ceremony
Miner Show and Tell
Space Race Summary

Week 2

More TBA
Ming Workshop
Live AMA
Min er Sh ow and Tel l
Space Race Summary

Week 3

More TBA
Ming Workshop
Live AMA
Miner Show and Tell
Space Race Summary

Week 4

The Space Race Ends

<<: Industry Weekly Report | Miners hold more than 1.82 million Bitcoins, SEC lowers investment threshold, Fidelity plans new BTC fund

>>: Filecoin announces token distribution details: 70% is distributed to miners as mining rewards

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