Filecoin Preps For The Launch of its File Storage Network by Shipping Out 8TB Hard Drives

Filecoin, one of the largest ICOs of 2017 which raised nearly $257 million is all set for the official launch of its file storage network. In the run up to its official launch, the file storage network is mailing out 8 terabyte hard drives containing data on climate, world’ literature or human genome under their initiative called FileCoin Discover.

Today, we are pleased to launch Filecoin Discover – a project to help seed Filecoin as the home for humanity’s most important datasets! https://t.co/jEYCxZ608D

— Filecoin (@Filecoin) May 7, 2020

The data is being delivered to future miners on the network and each of these packages contains instructions on how to connect the hard-drive to the Filecoin system. Each of these hard drives would cost around $265. The initiative is open to one and all and the future miners can easily recover the upfront cost with the data capacity storage of their hard drives. Ian Darrow, head of operations at Filecoin said,

“people don't fully appreciate the enormous logistics involved with moving data at a massive scale.”

Filecoin is a decentralized file storage network which aims to help anyone and everyone safely store their data and take on centralized storage systems heads on. The miners on the network help people in storing their data over the decentralized network and earn the native token in exchange for their services in the form of deal fees, block reward and network message transaction fees.

Being an early miner on the network could prove to be an advantage for them and help them keep the Filecoin cryptoeconomics running and get awarded accordingly. Darrow noted that the 8 terabytes early storage shipment for future miners were well thought out, as it is a feasible data capacity for anyone to set up at home. The firm hopes that the users who opt for the program would bring in smaller players on the network which would eventually make the network more decentralized.