Filecoin Space Race: Behind the scenes episode 1

In brief

  • Decrypt goes behind the scenes on Filecoin’s Space Race competition
  • The competition involves users trying to add as much storage to the network as possible.
  • The winners share a pool of 4 million FIL.

This post is part of a series sponsored by Protocol Labs

Filecoin’s Space Race, the three-week competition to see how much storage miners can put on its network is live, and we have a behind-the-scenes series of videos exploring those competing and why.

For context, the Space Race is a collaborative competition designed to stress test the network before Filecoin’s mainnet launch due later this year. For those competing, not only do they get bragging rights for being able to put the most storage on the network, they’re also competing for a slice of 4 million FIL, Filecoin’s native token.

In addition to the onboarding storage capacity competition, the 20 largest block reward winners will split a prize of an additional 100,000 FIL proportionally based on how much block reward they win.

So far, 345 miners from six continents have managed to put more than 100 pebibytes of data on the network. For comparison, the world’s effective capacity to exchange information through telecoms networks in 1986 was just over double what Filecoin has achieved in little over a week.

“Filecoin would be nothing without its robust and passionate community,” says Molly Mackinlay, IPFS Project Lead.

Miners involved in Filecoin’s Space Race have managed to put more than pebibytes of data on the network. CREDIT: Filecoin

In episode 1 of our video, in collaboration with Forkast and Filecoin, we give you an overview of how the competition works, who is competing, and what we’ve learned so far in the race.

Filecoin’s Space Race is scheduled to run for three weeks and will conclude in mid-September. In the meantime, stay tuned for our ongoing series exploring those competing for a slice of Filecoin’s grand prize.