Most Filecoin and Chia Holders About To Join Ethereum Swarm
Despite the recent publicity about Filecoin and Chia, the soft launch of the Bee mainnet is now highly anticipated. Various media outlets reveal that the Swarm mainnet will likely be launched tomorrow (June 13, 2021). Hence, many china miners anticipate receiving several benefits from the content distribution service and distributed storage platform.
Ethereum Swarm About to Inaugurate Mainnet and Token
Per a blog post from the Swarm foundation, the expected Bee mainnet launch will occur tomorrow, June 13, 2021. All the details regarding this project are available on ethSwarm.org. The website reiterates Swarm’s services as a content distribution service and distributed storage platform built on the Ethereum Web2 stack.
Ethereum Swarm Tweet. Source: Twitter
On the same day, Swarm will also launch its native token (BZZ), a reward for decentralized transactions and storage. While there are several details about Swarm and BZZ on the internet, the Swarm team also released a comprehensive summary about this project which the team has called “Book of Swarm.”
After raising more than $6.1 million from a private token sale, the Swarm team released a 5-part thread to reveal what it intends to do with the funds raised.
Swarm 5-part thread. Source: Twitter
Once the soft launch of the mainnet is completed tomorrow, the BZZ token sale is scheduled to follow on Monday, June 14, 2021. Information from china suggests that Swarm is soaring in popularity in the area, and most Filecoin and Chia miners are about to jump ship to Swarm.
Priyeshu Garg: “Swarm’s China Popularity Based On Belief”
According to Priyeshu Garg, a top Chinese journalist, and 8BTC contributor, “the number of Swarm groups on WeChat has increased significantly in recent days. But its popularity is only fueled by belief.”
Various Chinese social media also affirms Priyeshu’s assertions. Swarm is founded by Viktor Tron, who is also the project’s lead developer. After completing the project’s proof-of-concept, Viktor has completed the testnet phase for it and made a few releases.
Priyeshu further stated that “there are now Swarm ‘believers’ singing the praises of the project on various social platforms.
Even a few Filecoin groups have now Been switched to Swarm groups.” before Swarm, Chia and Filecoin were the most popular digital currency networks in china because they provide unique mining options. The popularity of chia (founded by Bram Cohen, who is also Bittorrent’s founder) was so high earlier this year that it caused severe shortages in hard-drive and SSD in the country.
While 1,000 BZZ tokens were sold for $250 during its private placement, there are indications that the same amount of tokens will be sold at $1,930 during the public offering – an astonishing 670% value rise from its private placement price.
However, the Swarm website forbids U.S. Residents from participating in this token’s public sale. Some U.S. Web visitors couldn’t access coinlist.co (the designated site for the BZZ public token sale). Current node operators and users willing to participate in Swarm’s airdrop must have the codebase Bee v0.6 release.
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