Filecoin Will Launch EVM-Compatible Filecoin Virtual Machine in March

Filecoin will launch the EVM-compatible Filecoin Virtual Machine (FVM) in March 2023, aiming to bring the programmability of smart contracts to the Filecoin network. FVM will support programmable storage primitives (such as storage bounties, and auctions), to cross-chain interoperability bridge connecting Ethereum. Other use cases include data-centric Decentralized Autonomous Organizations (DAOs) and Layer 2 solutions (such as reputation systems, data availability sampling, computation fabrics, and incentive-aligned Content Delivery Networks)

Filecoin is one of the largest decentralized storage networks with over 3,000 storage providers and over 16 EiB of storage capacity. With FVM and smart contracts programmability, it will become more like a Layer 1 blockchain. However, it has many differences from a general-purpose Layer 1 blockchain and is categorized in the sector of decentralized physical infrastructure network (DePIN). The idea of DePIN is to incentivize and coordinate human activity to develop real-world decentralized infrastructure and hardware network. In the case of Filecoin, the network incentivizes storage providers to provide storage capacity.

Source

Storage

In This Article

Related News
Datamall Chain's ERC-7585 Proposal Approved, Enhancing Ethereum Ecosystem Datamall Chain's ERC-7585 Proposal Approved, Enhancing Ethereum Ecosystem
Decentralized Data Storage Network BNB Greenfield Live on Mainnet Decentralized Data Storage Network BNB Greenfield Live on Mainnet
Storage Blockchain Datamall Chain to Launch Mainnet Today, with Token $DMC Listed on 3 CEXs Storage Blockchain Datamall Chain to Launch Mainnet Today, with Token $DMC Listed on 3 CEXs
Crust Network Secures Millions in Investment from DWF Labs Crust Network Secures Millions in Investment from DWF Labs
BNB Greenfield Mainnet Launch Expected in Q3 2023 BNB Greenfield Mainnet Launch Expected in Q3 2023
Latest News More More
44 Minutes Ago Starknet Token Dumped by Nethermind and Airdrop Farmers
5 Hours Ago Wormhole to Use AMD's Chip to Facilicate Cross-chain Messaging
6 Hours Ago S&P Global Predicts $ETH ETF Approval in May, Raises Concern over Staking Concentration Risk
1 Day Ago Stellar Launched Smart Contracts Platform
1 Day Ago Crypto Community Expresses Concern Over Ethena's 27% USDe Yield
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open