Juan Benet, the creator of the Filecoin blockchain-based data storage platform, has called allegations that the miners of his token have been on strike since last week “nonsense”.
According to a report by 8btc.com, five of Filecoin’s largest miners have shut down thousands of platforms to protest the platform’s economic model. Under this system, miners are required to aim Filecoin (FIL) tokens as collateral when producing a block. However, many of them are apparently short of needed tokens.
Crypto Twitter user Nico Deva was one of the first to do so Request that “the majority of the miners” were on strike following allegations of having to buy Filecoin (FIL) tokens to exploit the mining capacity. This allegedly did not go well with some of the top miners in China, leading to reports of a possible strike.
“A napkin calculation shows you right away that your mining system requiring $ 20,000 hardware also forces you to buy more coins”, She said Deva, referring to Filecoin’s 2017 Initial Coin Offering (ICO) which raised over $ 200 million in under an hour. “In a country where ponzinomics is an art, the poster boy of 2017 simply [blew] “, has continued.
Benet claimed on Twitter that this is not the case, however, stating that miners are simply producing blocks at a slower rate:
“What is happening is that miners are growing slower than before launch. This is largely due to the network no longer subsidizing their commitments and commission costs – commissions now cost real money and miners have to match the growth rate to the token flow. “
The founder of Filecoin claimed the project recommended that many miners “slow down their growth rate to match their token flow, or stop until they can afford to grow steadily.”
“The decline in growth of some miners is due to our advice”, She said Benet.
He shown data claiming the blocks was still in production, with the top miner earning $ 352,000 within 24 hours, while the top 50 would earn $ 3.7 million in rewards. The creator of Filecoin said adding capacity to the network was “very difficult right now”.
“There are some miners who undoubtedly want to push things and try to get more. If they could blame the community for giving them a lot more money, it might be worth a try. One thing you learn quickly when there is a lot of money in the mail. at stake is that people will come out of work to get it and try all kinds of manipulative tactics. “
The platform’s mainnet was launched last week, allowing the exchange of FIL tokens on major exchanges. The token price jumped 118% in less than two days before a nearly 80% drop. CoinMarketCap shows FIL is currently trading at $ 34.79 at the time of writing.