Crypto exchanges and investors are preparing for the much-awaited launch of Filecoin’s mainnet and its token FIL on October 15, 2020. This launch is among the most anticipated launches in the crypto industry.
The event marks one of the most highly anticipated launches in the crypto industry. Rather than waiting for the network and its token to go live, several big-name crypto exchanges including Kraken, Huobi, and Gemini are already planning to list the token FIL upon launch.
Filecoin Launch Amid Banks and Bailouts Stifle Wall Street
Due to the COVID-19 pandemic, the markets across the world have gone through some major downturn, and the aftermath of this pandemic is not any good. From the past two days, it is reported that the stock market is going down. The major reason behind this drop is considered to be Banks and Bailouts.
Filecoin is more like a decentralized Dropbox, OneDrive, or Google Drive. Instead of passing the data to a third-party for cloud storage. Filecoin’s peer-to-peer protocol will rent out space on the computers of other users. One needs to buy space with FIL. Also, the network pays out people renting out their hard drives in FIL.
Crypto Market Seems To Be Stable Now
Even though the past two days have been quite rough for the stock markets, the crypto market seems to be quite stable at the moment. There are very minor ups and downs in the major cryptocurrency like Bitcoin and Ethereum. People also seemed quite interested in the DeFi market as well because there has been a huge surge in this particular sector over some time now. Filecoin had started an incentivized testnet for the blockchain on August 24, 2020. This means that participants could earn real cryptocurrency.