A quick overview of the content of the third Protocol Labs Miners Conference

Professionalism and focus, win-win cooperation

Testnet rewards start time confirmed

Filecoin developers said that the large miner test competition will officially start the week of August 3. The Calibration Network and the large miner test competition are used to focus on testing the network and allow miners to test their own equipment and mining machines.

Important Information

Filecoin developers: In the big miner test competition, if you forge the address, you will not be able to get rewards

Filecoin developers said that in Space Race, miners in the Chinese community need a VPN to participate in the competition, and the miner's region needs to be verified. If the miner forges the address of his region, he will not be able to get the reward.

Hackathon Review

During the one-month hackathon, 477 hackers participated in 225 projects, including 53 smart contracts + Filecoin, 24 development tools, 22 Defi + Filecoin, 23 network, 16 big data, and several audio and video and mining projects. Many giants such as Google, Ethereum, BitTorrent, and FMA have joined.

The total storage capacity of the entire network has reached an astonishing 25PB (of which the Lingdong node T01009 accounts for 25%, 6.29PB)

About the 400W Reward Competition (Space Race) Rules

▶ The testnet reward phase lasts for three weeks. Participants are required to store the packaged data into the network. The bonus pool will increase with the growth of stored data, up to 4 million Fil.

▶ The top 100 miners in the world and the top 50 miners in each continent will receive rewards. Since KYC/AML verification is required for each miner, only a very small number of miners can receive rewards.

▶ There is no “hard” limit on the number of miners that can be rewarded in the Big Miner Test Competition. As long as the miners are ranked within the top 100 in the world or the top 50 in their respective regions and meet other criteria, they are eligible to win rewards.

▶ The main way to get rewards is based on storage capacity and transaction order success rate. There is no minimum storage limit for participants. (Not the 10TB threshold previously rumored)

▶ The competition leaderboard will display the name of the miner (individual or organization).

▶ Miners must receive storage and retrieval transaction orders to receive rewards. The official will add a robot system, which is located in Europe. (Chinese users are likely to need a VPN)

▶An additional 100,000 Fil will be added to reward approximately the top 20 highest block reward winners.

Competition elements

▶ Save your energy.

▶ Order transaction success rate – Determine whether miners can provide effective storage. (Success rate, and inventory)

▶ Sector Lifecycle – Determines that miners can upgrade their committed space through sector upgrades.

▶ Newly added 100,000 coin rewards: The reward mechanism and method are exactly the same as the main network.

Supplement: Reward acquisition: If you receive a reward, Coinlist will contact you or the organization through the registered email to write the reward into the genesis block, and you will need to provide personal identification (passport, driver's license, ID card, etc. with a photo ID)

▶ At the end of the competition, the miner’s registered email will receive a location verification email to confirm the real location (the official uses technology to confirm which continent the miner is located in) to prevent location fraud.

▶ A miner can register up to 16 actors with the same email address. (You need to leave a message in the spacerace channel of the Slack chat room)

▶ Join the calibration network (July 20-August 2) for miners to conduct early testing of the reward competition to confirm whether they are suitable for the official competition network.