{"id":30268,"date":"2020-10-19T09:50:19","date_gmt":"2020-10-19T06:50:19","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=30268"},"modified":"2025-08-27T21:28:25","modified_gmt":"2025-08-27T18:28:25","slug":"filecoin-network-faces-miner-strike-after-launch","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/filecoin-network-faces-miner-strike-after-launch\/","title":{"rendered":"Filecoin Network Faces Miner Strike After Launch"},"content":{"rendered":"<p>A day after <a href=\"https:\/\/u1f987.com\/en\/news\/filecoin-mainnet-goes-live\">the launch<\/a> of the mainnet, the largest Filecoin miners began a strike, protesting the project&#8217;s economic model, reports <a href=\\\"https:\/\/www.8btc.com\/article\/657293\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">8btc<\/a>.<!--more--><\/p>\n<p>On Saturday, October 17, the five largest Filecoin miners paused operations. At Zhihu Cloud, of 8,000 installations, only 276 were operating; for the other four, capacities dropped to zero. Many other mining companies prefer not to increase storage capacity.<\/p>\n<p>https:\/\/u1f987.com\/chto-takoe-filecoin\/<\/p>\n<p>The miners&#8217; grievance stems from the mining reward model set by the project&#8217;s developers. Block rewards unlock linearly over 180 days, but mining requires depositing collateral in FIL tokens. Miners do not have enough coins for this.<\/p>\n<p>Many of them consider buying FIL on the secondary market risky, because the token, in their view, is overvalued.<\/p>\n<p>Some simply cannot afford it, having invested all their funds in FIL mining equipment.<\/p>\n<blockquote>\n<p>\u201cAll miners have been offline since the mainnet launch. This is not a protest \u2014 we had to stop them because we really have no tokens to back the mining,\u201d said Chuhan Lai, CEO of ST Cloud.<\/p>\n<\/blockquote>\n<p>The developers have already pledged to rethink the economic model, including in the update paying miners 25% of the block reward immediately after mining.<\/p>\n<p>Earlier, Tron founder Justin Sun <a href=\"https:\/\/u1f987.com\/en\/news\/justin-sun-accuses-filecoin-team-of-dumping-fil-token\">accused<\/a> the Filecoin developers of dumping the FIL token.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A day after the mainnet launch, the largest Filecoin miners began a strike, protesting the project&#8217;s economic model, reports 8btc.<\/p>\n","protected":false},"author":1,"featured_media":30269,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1488],"class_list":["post-30268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-filecoin-fil"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/30268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=30268"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/30268\/revisions"}],"predecessor-version":[{"id":30270,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/30268\/revisions\/30270"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/30269"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=30268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=30268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=30268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}