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Filecoin Blockchain Updates Time and Date for its Testnet an...

Filecoin Blockchain Updates Time and Date for its Testnet and Mainnet

Filecoin, a blockchain data storage network that will allow users to buy and sell unused storage on an open market, has finally announced updated testnet and mainnet launch schedule.

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In a blog post on Tuesday, Filecoin said the network will launch testnet on Dec. 11, while the mainnet is planned for March 2020. The project, run by Protocol Labs, has been delayed at least twice. The firm initially planned its mainnet launch in Q2/Q3 of 2019, then in Q3/Q4 of the year.

Notably, the latest schedule is also the firm’s “best estimates” and “could potentially slide.”  “We are not yet announcing a mainnet launch date, but we expect it to be 1-2 quarters after our testnet launch. We will post the exact launch date in Q1 2020,” Filecoin said.

The project held one of the largest token sales in 2017, through a Simple Agreement for Future Tokens (SAFT) sold to accredited or institutional investors. It raised over $205 million in the SAFT sale, in addition to $52 million collected in a presale, totaling to over $257 million.

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