Filecoin Testnet Rewards Program

Filecoin Testnet Rewards Program

After years of research and development, the launch of the Filecoin mainnet is approaching. Today, we are releasing the rewards program for the Filecoin testnet and inviting miners from all over the world to compete for global and regional rewards totaling 4 million Filecoin tokens .


Program Structure

The Testnet Rewards Program is a collaborative competition designed to stress-test the network, encourage global participation, and help miners prepare to run the world's largest distributed storage network. The basic structure of the competition is simple: over three weeks, miners will compete to provide as much storage capacity as possible to the network. The top 100 miners worldwide and the top 50 miners on each continent will receive Filecoin rewards based on the amount of storage they achieve for the network during the test period.

Miners can obtain more rewards in two ways:

  • The size of the reward pool increases as the total storage capacity of the network increases.

  • The total pool of rewards is distributed strictly in proportion to mining contributions, depending on the proportion of storage capacity they add to the total network storage.

"Region" refers to the six continents, excluding Antarctica. We follow this list (https://unstats.un.org/unsd/methodology/m49/) to determine which continent a country belongs to. The top miners will share the following total reward pool rewards:

Total FIL rewards (global reward pool) Global network storage capacity
100k 5PiB
200k 10PiB
300k 25PiB
500k 50PiB
1MM * 100PiB

*Note: Each region must have at least 1PiB of storage capacity to unlock

Total FIL rewards (regional reward pool) Regional network storage capacity
25k 100TiB
50k 500TiB
100k 1PiB
250k 5PiB
500k 10PiB

The calculation example is as follows:

  • During the competition, a miner in Argentina packed 1.5PiB of storage onto the network.

  • The total storage in South America is 5.0PiB, so the leading miners in the region will share 250,000 FIL. The top 50 miners in the region hold 3.0PiB, and the rest is held by small miners.

  • The total storage capacity on the global leaderboard is 120PiB, of which the top 100 miners hold 100PiB and small miners hold 20PiB. The total storage capacity of each region has also reached 1PiB, so the global maximum reward level (1 million FIL) has been unlocked.

  • 1.5PiB is enough to enter the top 100 of the global rankings.

  • This miner will receive 125,000 FIL from the regional leaderboard (total 250,000 FIL rewards * 1.5PiB / 3.0PiB) and 15,000 FIL from the global leaderboard (total 1 million FIL rewards * 1.5PiB / 100PiB), for a total of 140,000 FIL .

In addition to the committed packaged storage capacity, miners must also be prepared to successfully complete terabytes of real storage and retrieval transactions to receive rewards. They must also demonstrate the ability to execute the entire sector lifecycle - creating committed capacity sectors, upgrading them to store real data, and finally terminating them.

The competition will include a real-time dashboard where miners can view global and regional reward rankings, as well as individual miners’ storage computing power, transaction success rate, and sector lifecycle completion. Miners can also see their name (individual or company) and miner ID displayed on the leaderboard.

rule

  • Any rewards earned will be written into the genesis block and released linearly over 6 months after the mainnet launch.

  • To be eligible for rewards, miners must authenticate their miner ID from the dashboard following the instructions provided and pass an AML/KYC audit before the end of the competition.

  • The metric used to calculate storage capacity is raw byte power. Sector quality and verified transactions are not taken into account in reward calculations.

  • For regional leaderboards, miners are attributed based on the actual physical location of their mining activity. Mining across multiple regions requires multiple miners. We require miners from regions outside of the most competitive regions to submit documentation proving their physical location. Miners who falsely claim to be from other geographic locations will be disqualified from receiving rewards and being included in the leaderboard.

  • If a vulnerability is discovered during the competition that threatens the validity of the hashrate table or the Filecoin team discovers other unforeseen special circumstances, the Filecoin team may end the competition early. We will still give out rewards that would have been given up until the discovery of such a vulnerability, as long as the amount of the reward can still be calculated effectively. If a team discloses that it has discovered a vulnerability to the Filecoin team, the team that reported the vulnerability will be eligible for a reward of up to 250,000 FIL, depending on the severity and practical significance of the vulnerability (determined by the Filecoin team).

  • Although we do not want this to happen, rewards may be reallocated, deferred, or canceled if Protocol Labs or the Filecoin Foundation determines in its sole discretion that it is impossible to deliver a reward due to any relevant law or regulation.

hardware

Filecoin will use SDR replication proofs (very similar to the current testnet structure) for the testnet reward program and mainnet launch. Miners should understand that Filecoin will regularly upgrade its proofs after launch.

The Filecoin team does not recommend any specific hardware configuration . For convenience, here are the configurations we use for various types of testing. It is very likely that there are more efficient configurations, and we strongly encourage miners to test and experiment to find the best combination.

Testing and small mining: https://pcpartpicker.com/user/tperson/saved/H2BskL

Large mining: https://drive.google.com/file/d/1QNIMUbEMHvj5LHekKGEPR5nCvhdzIp5e/view?usp=sharing

time

The competition will last for three weeks. We will confirm the start date once the launch date is confirmed, but the competition will most likely start in early July . We strongly recommend that miners start preparing now.

Join the testnet and start mining

Whether you are an experienced miner or a novice miner, the testnet reward program is a great opportunity to increase your participation in the Filecoin network. Click here to join the mining from the Lotus documentation (https://docs.lotu.sh/) (Filecoin nodes and miners) and join the Filecoin Slack community (https://join.slack.com/t/filecoinproject/shared_invite/zt-dj58b7fq-weyaTEvjHoYF_ENkQHR6Ig).


<<:  Exclusive: "Sichuan Bitcoin Mine" has become a test question and has appeared repeatedly in the Chinese college entrance examination simulation geography paper

>>:  Filecoin announces $4 million reward plan for testnet

Recommend

People who always like to show off in life

If it works, it works. If it doesn’t, it doesn’t ...

How to tell if a man has a good fortune and is rich?

A person's destiny has long been hinted at in...

Love face and like to act big in front of others

In daily life, there are many people who care a l...

How to know wealth through palm reading

A person's wealth throughout his life can be ...

Misunderstandings about Fortune from Face Reading

We probably all have such an understanding that p...

The secret of whether women with prominent cheekbones are popular or not

Many times, we all pay great attention to one thi...

People with splayed eyebrows have kind personalities and are generous.

What does a scowl look like? The s-shaped eyebrow...

What does a mole under a girl’s ear mean for her fate?

Although not everyone has moles on their ears, mo...

Analysis: 3 reasons why Ethereum price surges towards $600

Ethereum 2.0 brings upward momentum to prices Whe...

Low cheekbones mean bad luck

If a person's cheekbones are too low, the fac...

A Panorama of the Cryptocurrency Mining Industry

As of July 2019, Bitcoin miners generate more tha...

How is the fortune of people with the mole of misery?

People with the mole of misery usually have smoot...