Miners on decentralised storage network compete for 4 million token prize
Filecoin, a blockchain-based decentralized storage project, is officially launching its testnet- Space Race to test out the network before the mainnet launch.
As promised, Filecoin will start its testnet launching competition. It encourages global miners for the next three weeks to be competing for up to four million Filecoin in prizes to onboard as much storage space to the network as possible, says the report. The contest begins on August 24 at 10 pm UTC.
The top 100 miners globally, and the top 50 miners from each continent, will use the earned Filecoin rewards to jump-start their mainnet mining efforts based on how much storage they and the network achieve during the competition. People can also track their progress on the testnet main website.
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. More than 240 miners from six continents are preparing to participate in the competition in the past month, says Filecoin.
Molly Mackinlay, IPFS Project Lead, said, “Filecoin would be nothing without its robust and passionate community.”
Filecoin's project raised $257 million during its 2017 initial coin offering and it’s been developing ever since.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 63.6% | 72 | $95 523.20 | -1.59% | -3.09% | $1 890 429 694 333 |  |
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|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 70.4% | 59 | $3 621.80 | -2.23% | 4.19% | $436 218 097 663 |  |
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| 3 |  USDT |
Tether predictions | 92% | 1 | $1.000303 | -0.03% | -0.06% | $134 162 795 778 |  |
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| 4 |  XRP |
XRP predictions | 58.8% | 88 | $2.35 | 22.03% | 55.33% | $134 008 145 144 |  |
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| 5 |  SOL |
Solana predictions | 65.6% | 74 | $227.22 | -4.39% | -10.92% | $107 963 781 068 |  |
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| 6 |  BNB |
Binance Coin predictions | 81.2% | 31 | $639.63 | -2.52% | -4.93% | $92 113 151 283 |  |
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| 7 |  DOGE |
Dogecoin predictions | 54.8% | 93 | $0.414433 | -3.12% | -4.33% | $60 934 659 886 |  |
|
| 8 |  USDC |
USD Coin predictions | 93.6% | 1 | $0.999885 | -0.02% | 0% | $39 953 701 426 |  |
|
| 9 |  ADA |
Cardano predictions | 59.2% | 84 | $1.098899 | 2.62% | 3.22% | $38 555 845 015 |  |
|
| 10 |  AVAX |
Avalanche predictions | 68.4% | 69 | $47.29 | 6.64% | 1.29% | $19 354 282 669 |  |
|
| 11 |  TRX |
TRON predictions | 60.4% | 80 | $0.206824 | -0.55% | -2.23% | $17 849 842 228 |  |
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| 12 |  SHIB |
SHIBA INU predictions | 58.4% | 94 | $0.000029 | -2.55% | 11.86% | $17 234 033 938 |  |
|
| 13 |  TON |
Toncoin predictions | 69.6% | 62 | $6.50 | -4.09% | 4.64% | $16 548 049 282 |  |
|
| 14 |  XLM |
Stellar predictions | 58% | 89 | $0.517429 | 1.39% | -5.15% | $15 561 708 340 |  |
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| 15 |  DOT |
Polkadot predictions | 59.2% | 84 | $8.73 | -2.42% | -4.66% | $13 308 222 653 |  |
