Filecoin, a Decentralized Storage Network, Delays Project Launch Again After Reviewing Recent Code Security Audit Results

Filecoin, a highly-anticipated decentralized storage network (under development), announced that there will be more delays before its mainnet can be officially launched.

Filecoin’s developers have postponed the release date for their mainnet to between late July and late August 2020.

As mentioned in a recent announcement, the Filecoin team said that the initiative had completed the initial round of its internal protocol security audit. The platform’s developers claim that the results of the audit showed that they need to make several changes to the protocol’s codebase before conducting the second phase of the software testing process.

Created by Protocol Labs, Filecoin has been developed using the InterPlanetary File System (IPFS), an established peer to peer data storage network. The Filecoin software will allow users to trade storage space in an open and decentralized marketplace.

The developers of Filecoin carried out one of the largest cryptocurrency token sales back in 2017. They notably secured over $200 million from professional or accredited investors, including several institutional investors.

The mainnet had been scheduled for launch last month, but in February 2020, the Filecoin development team delayed the main network release to betwen July 15 and July 17, 2020.

They had claimed that the Coronavirus (COVID-19) outbreak in China was the primary reason for the delay. The developers now say they need even more time to solve the issues found during a recent audit of Filecoin’s codebase.

The Filecoin team noted:

“We have drafted a number of protocol changes to ensure that our mainnet launch construction is secure and economically sound.”

The project’s developers will be adding them to the Filecoin protocol’s two different implementations (lotus and go-filecoin) during the coming weeks.

Filecoin’s developers conducted a poll to allow the platform’s community members to cast their votes on three different launch dates for the Testnet Phase 2 and the mainnet.

The team reported that the community has submitted their votes. Based on the results of the votes, the Filecoin team has announced a “conservative” estimate which notes that the phase-two testnet should go live by around May 11, 2020. The Filecoin mainnet might launch at some point between July 20 and August 21, 2020.

The updates being made to the project may be viewed on Filecoin’s roadmap chart.

Filecoin’s developers stated:

“This option would have us land the most critical protocol changes first, and then implement the rest as protocol upgrades during testnet.”

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