After raising millions of dollars through its first coin offering in 2017, Filecoin, a decentralized storage platform, is now aiming to launch its network.
According to a blog from September 27, Filecoin will migrate to its blockchain in stages rather than all at once.
“The launch of the blockchain is a complex and lengthy process,” the statement said. “Like many other networks (including Polkadot, NEAR and others), Filecoin takes a step-by-step approach to launch mainnet, with different groups and communities connecting to the network over a period of time, leading to the launch of mainnet.”
Presently, in the initial phase known as Mainnet Ignition, Filecoin explained the planned and explosive operation, mainly as a way for the project and its stakeholders to line up all the ends in a row before moving to a new network.
Filecoin expected a launch date of May 15th, March 15th, and noted technical checks over the next few days, confirming that everything is going well. After that, from October 19 to 23, several commemorative events will be held within the framework of the project.
Filecoin raised $ 257 million during the ICO in 2017, then suffered from a number of delays in development and progress. Back in February 2020, the project published a timeline indicating a launch date for the main grid in the third quarter.