Filecoin, The Product Of a $257m ICO, Is Gearing Up To Go Public With Its Code

Altcoin Buzz
Sep 3, 2018 · 2 min read

SEPTEMBER 3, 2018 BY GARRETT

Filecoin, a decentralized storage solution that is looking to monetize cloud storage is preparing to go public with its code. The company has kept their code private since their ICO and claims that this was done in order to avoid distractions and move quickly towards a working product. However, the company is now ready to work with the public.

According to the company’s blog post, Filecoin has decided that it has completed most of its private codebase goals and is now ready to go public with its project. This will allow participants to help build different parts of the project as well as build on top of the code. Filecoin is also preparing to launch an online forum where users can collaborate and work on the Filecoin code.

According to the Filecoin whitepaper, users of the Filecoin platform will spend Filecoin tokens to store and distribute their data. Miners on the network earn rewards by offering available storage on their machines to users of the Filecoin platform. Filecoin mining is a competitive process because those who have more storage to offer have more weight on the network and are thus rewarded better. Anyone will be able to offer up free space on their device to the Filecoin network and be rewarded.

Filecoin ran a hugely successful ICO in August and September 2017 where the project raised a total of $257 million dollars. The next steps for the project are the release of their test-net and the eventual release of the main net.

Originally published at altcoinbuzz.io on SEPTEMBER 3, 2018.

Visit our website: https://altcoinbuzz.io
Connect with us on social:
Twitter: https://twitter.com/altcoinbuzzio
Facebook: https://www.facebook.com/altcoinbuzzio
Telegram: https://t.me/joinchat/H0KlAUhqYUJIz2pShMyHPg

Altcoin Buzz

Written by

Latest on Bitcoin, Cryptocurrencies, Blockchain Investments, ICOs and Digital Assets.

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade