Filecoin Virtual Machine Aumai Konekarate Atamai i le Network

On Tuesday, March 14, the decentralized storage platform Filecoin announced the launch of the Filecoin Virtual Machine (FVM) on the mainnet blockchain. The launch of FVM will add smart contracts and user programmability to the Filecoin blockchain.

The excitement of FVM arrival has already boosted the trading activity for the Fielcoin (FIL) crypto. In the last 24 hours, the FIL price surged all the way to $7.47. As of press time, Filecoin (FIL) is trading 10.67% up at a price of $6.97 and a market cap of $2.8 billion.

Using the Filecoin Virtual Machine (FVM), developers can write and deploy custom code to run on the Filecoin blockchain. This would unlock the enormous potential of an open data economy. As a result, developers will now be able to connect, augment, and innovate around key factors such as “storage, retrieval, and computation of content-addressed data at scale”.

The introduction of user programmability with FVM is a major advancement in unlocking the capabilities of decentralized storage. Speaking on the development, Juan Bennet, CEO and founder of Protocol Labs, said:

“FVM is a major step forward for blockchains and Web3 — it enables developers to build new kinds of applications, bringing the powers of smart contracts to large scale data.”

Filecoin Virtual Machine Features

The interesting new features of the Filecoin Virtual Machine will improve the utility and value of the Filecoin network. It will further help Filecoin in democratizing the services of centralized cloud into open access markets.

Filecoin noted that FVM will create boundless opportunities for Data DAOs, decentralized finance (DeFi), perpetual storage, and other Layer 2 networks. Besides, it will also help developers to create new categories of markets, custom apps, and organizations built around the data storage solutions of Filecoin.

Some of the key examples of leveraging FVM include Data Onboarding and Management as well as Network Participant Discovery and Reputation. Additionally, Defi, data curation, cross-chain interoperability and integration are also key factors.

The launch of FVM also brings additional integrations from Web3 platforms such as Sushi, Celer, Brave, Axelar, and others. Filecoin stated that more than 150 applications are already building with FVM’s perpetual storage and other capabilities on the Hyperspace testnet.

Bhushan o se FinTech fiafia ma o loʻo ia te ia le malamalama lelei i le malamalamaaga i maketi tau tupe. O lona naunau i mea tau tamaoaiga ma mea tautupe na tosina atu ai lona mafaufau agai i le fou fou Blockchain Technology ma Cryptocurrency maketi. O loʻo faʻaauau pea lana aʻoaʻoga ma faʻamalosia o ia e ala ile fetufaaʻi o ana mea maua. I le taimi avanoa na te faitau ai i tala faʻasolopito tala fatu ma o nisi taimi e suʻesuʻe ai lona tomai tau kuka.

O mea na faʻaalia e mafai ona aofia ai le manatu totino o le tusitala ma e faʻatatau i tulaga maketi. Fai lau maketi suʻesuʻega ae e te leʻi faʻaalu i cryptocurrency. O le tusitala poʻo le lolomiga e le umiaina soʻo se tiute mo oe lava tupe leiloa.