Filecoin Miners Get Their Rewards

Filecoin Miners Get Their Rewards

By Abhimanyu Krishnan | News | 23 Oct 2020

The Filecoin network underwent an upgrade on October 22, which granted miners an immediate reward, alleviating some of their concerns about the network’s mining incentivization model

  • FIP-004 of the Lotus 1.10 upgrade was activated at block height 170,000; miners who installed the upgrade were granted 25% of their block rewards immediately with no vesting required
  • The remaining 75% will be vested over the next 6 months; Miners will have to upgrade to the latest version in order to continue mining
  • Filecoin miners criticized the high requirements of mining a day after the mainnet was launched; the Filecoin team quickly responded by saying that solutions were being examined
  • Filecoin development team Protocol Labs and ConsenSys announced a partnership on October 22, with the intention of integrating the storage protocol with Ethereum “at every layer”

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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