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23 October 2020

Filecoin Miners Go On Strike One Day After Mainnet Launch, Prompting Early Reward Release - CoinDesk

Filecoin Miners Go On Strike One Day After Mainnet Launch, Prompting Early Reward Release - CoinDesk


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Five of its largest miners turned off their machines to protest the project’s “unfair” economic model that requires a significant amount of FIL tokens to start mining operations, according to a report by 8btc.com. .

Zhihu Cloud, one of top five Filecoin miners, has more than 8,000 InterPlanetary File System (IPFS) mining machines yet only 276 mining machines were running on Saturday, while the other four, including mining company 1475, generated even less storage mining power, the report said. .

While Filecoin uses the collateral as a leverage to ensure miners fully deliver their services according to users’ contracts, it creates a situation where the miners don’t have enough FIL tokens to begin with. 

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