Filecoin has announced the launch of its testnet phase 2 in an official blog announcement on May 14. This is a giant stride for the decentralized storage solution provider, following its phase 1 launch six months ago.
Since the launch of testnet phase 1, different improvements have been ongoing. These improvements include the reviews of protocol, products and protocol improvement, bug fixes, and implementation optimizations. There have also been development efforts to enable networks to run with multiple interoperable nodes.
Some of these improvements are now effective in the second phase of the Filecoin testnet. It is pertinent to note that this is the last step before the mainnet launch and comprises several key components.
Two interoperable Filecoin implementations, namely go-filecoin and lotus, are available to users who wish to join the testnet phase 2. The design and launch of these implementations are significant as this is part of Filecoin’s crucial network security strategy.
Use of WinningPoSt and WindowPoSt
In phase 1, the Filecoin Proof-of-Space-Time (PoSt) mechanism had reliance on probability theory to prove the activities of miners. It worked by showing how miners maintain all their sectors and how they store user data at the appropriate time.
To curb this probability theory, the Filecoin protocol and implementation schemes now make use of the WinningPoSt and WindowPoSt. This essentially helps to monitor the activities of miners. Moreover, this also ensures that the miners regularly demonstrate their availability of all sectors. In the blog post, Filecoin shared protocol specs for a detailed understanding of WinningPoSt and WindowPoSt.
Inclusion of Drand
Filecoin also addressed the point of randomness for leader elections by deploying a distributed random beacon network – Drand. This external source will also help reduce the risk of oppression and consensus attacks.
Encryption economic structure
Another key feature of the testnet phase 2 launch is the encryption economic structure. Filecoin has implemented the improvement of many new structures to meet the peculiar demands of the network.
Thus this latest phase of the testnet has included a new mechanism promoting committed capacity sectors, an improved mortgage guarantee, and a storage capacity that is adjusted to quality. This mechanism will also be improved and by this means, the encryption economic structure can be updated.
According to the blog, even as the Filecoin team was continually conducting reviews, they had also partnered with globally renowned security companies. These companies will conduct a review of key libraries and systems before the mainnet launch.
Earlier we had covered when Filecoin decided to go public with its code for the first time. Since then, Filecoin featured in the list of new digital assets that Coinbase was exploring last year. We also included its usability in our list of top businesses that cryptocurrency and blockchain would most impact in 2020. It is thus no wonder that a16z crypto, the crypto arm of Chris Dixon’s venture capital firm, Andreessen Horowitz, has turned out to be a serious backer of Filecoin.