Cointime

Download App
iOS & Android

The first anniversary of FVM: a milestone in the programmable era of Filecoin

Validated Project

In the wave of digitalization, blockchain technology has become an important driving force for innovation in many fields with its unique characteristics of decentralization, security and non-tampering. As an important branch of blockchain technology, Filecoin provides a powerful impetus for the open data economy through its unique data storage mechanism. In the development of Filecoin, the launch of FVM(Filecoin Virtual Machine) is undoubtedly an epoch-making milestone. It not only brings the functions of on-line programmability and intelligent contract to Filecoin, but also promotes the prosperity and development of the whole ecosystem.

  • * First, the introduction of FVM and the innovation of Filecoin * *A year ago, with the official launch of FVM, Filecoin ushered in an unprecedented development opportunity. As a virtual machine of Filecoin, FVM provides developers with rich programming interfaces and powerful intelligent contract functions, enabling developers to build more creative and applied projects on the Filecoin network.This change not only enhances the position of Filecoin as the first-tier blockchain, but also makes it unique in the field of data storage. Through FVM, developers can use the storage primitives on Filecoin more conveniently, including permanent storage, data access control, data calculation, data DAO, etc., so as to build more efficient, secure and reliable applications.
  • * * Second, the ecological prosperity of Filecoin promoted by FVM * *Since the introduction of FVM, the Filecoin ecosystem has shown explosive growth. According to statistics, as of March 2024, more than 800 FVM projects have been created on Filecoin. These projects have built about 680,000 wallets and deployed more than 3,000 contracts. These figures not only reflect the great influence of FVM in the Filecoin ecosystem, but also show the enthusiasm and confidence of developers in the Filecoin platform.These projects cover many fields, including data access and management tools, data computing networks, DataDAO, cross-chain interoperability and so on. Among them, some representative projects, such as NFT.Storage NFT Forever, Web3mine and CoopHive, have injected new vitality into the Filecoin ecosystem through the functions of smart contracts and FVM. The successful implementation of these projects not only proves the powerful functions and wide application prospects of FVM, but also promotes Filecoin’s leading position in the field of data storage.
  • * * Third, the next development direction and prospect of FVM * *With the maturity of FVM and the growing ecology of Filecoin, we have reason to believe that FVM will continue to lead Filecoin to a broader future.First of all, FVM will further promote the application of Filecoin in the financial field. Through the combination of smart contracts and decentralized finance (DeFi), FVM is expected to bring more abundant financial products and services to Filecoin, such as decentralized lending and decentralized transactions. This will make Filecoin play a more important role in the field of financial services and attract more users and capital to enter the Filecoin ecosystem.Secondly, FVM will promote the development of Filecoin in the field of data computing. FVM is expected to provide more powerful and efficient support for data computing by using the computing resources of Filecoin storage providers. This will make Filecoin play a more important role in the fields of big data processing and artificial intelligence training, and promote the further development of data economy.Finally, FVM will also promote Filecoin’s breakthrough in cross-chain interoperability. With the continuous maturity of cross-chain technology and the continuous expansion of application scenarios, FVM is expected to achieve closer connection and interoperability with other blockchain networks. This will enable Filecoin to play a more important role in cross-chain data transmission and cross-chain asset transfer, and promote the interconnection and coordinated development of the entire blockchain industry.
  • * * Conclusion * *Looking back on the development of FVM for one year, we can’t help being proud of the achievements made by Filecoin. Through the introduction and application of FVM, Filecoin not only realizes the functions of chain programmability and intelligent contract, but also promotes the prosperity and development of the whole ecosystem. Looking ahead, we have reason to believe that FVM will continue to lead Filecoin to a broader future and contribute more to the development of open data economy and blockchain industry.In this era full of opportunities and challenges, let’s look forward to the wonderful performance of FVM and Filecoin in the future!
Comments

All Comments

Recommended for you

  • Ethereum liquidity re-staking agreement TVL exceeds $10.1 billion, of which Eigenpie TVL exceeds $800 million

    According to DeFiLlama data, the current TVL of Ethereum liquidity re-staking protocol is 10.177 billion US dollars, of which the top five protocols ranked by TVL are:

  • Blockchain SaaS Solution AfriDex Completes $5 Million Pre-Seed Round of Funding, Led by Endeavor Ventures

    AfriDex, a blockchain software-as-a-service solution based in London, UK, has announced the completion of a $5 million Pre-Seed round of financing, with Endeavor Ventures leading the investment and African Crops Limited, Oldenburg Vineyards, and Hank Oberoi participating. AfriDex currently focuses primarily on the agricultural market, providing support and protection to supply chain participants through comprehensive on-chain solutions, utilizing blockchain technology to achieve traceability, frictionless payments, fraud prevention, verified authentication, simplified tax and subsidy management.

  • Bitget Wallet launches $10 million ecosystem fund and plans to issue BWB tokens this quarter

    Bitget Wallet announced the launch of a $10 million ecosystem fund in collaboration with Onchain Layer. The ecosystem fund is denominated in Bitget Wallet's native token BWB, which is planned to be released this quarter. It is reported that BWB is the native token of the exchange's self-hosted wallet with the same name, similar to Trust Wallet's token (TWT). The new fund will accelerate the development of Bitget Onchain Layer and support project construction.

  • Chinese Police Dismantle $1.9B Smuggling Ring Using USDT Stablecoin

    Chinese police have dismantled a large-scale underground banking scheme involved in smuggling operations valued at $1.9 billion. The illicit network used Tether's stablecoin USDT to facilitate the smuggling of pharmaceuticals, cosmetics, and the purchase of prohibited goods overseas. The crackdown coincides with China's nationwide observance of "May 15" Publicity Day for Combating and Preventing Economic Crimes. Police have arrested 193 suspects nationwide, including ring leaders Lin, Weng, Chen, and other unnamed individuals.

  • NYC-based Prediction Market Polymarket Raises $70M in Funding to Expand Operations and Development Efforts

    NYC-based prediction market, Polymarket, has secured $70 million in funding from investors including Founders Fund, 1confirmation, ParaFi, Vitalik Buterin, Dragonfly, and Kevin Hartz. The funds will be used to expand operations and development efforts. Polymarket, founded by Shayne Coplan, allows traders to predict the outcome of future events and react to breaking news in real-time, with market prices conveying the likelihood of important events. The platform has already seen a record $202 million worth of predictions made in 2024 across politics, current events, pop culture, and more.

  • Philippines central bank approves peso stablecoin pilot

    The Philippines central bank has authorized Coins.ph to initiate a pilot program for a new Philippine Peso-backed stablecoin, PHPC, under its Regulatory Sandbox Framework. This pilot aims to integrate PHPC into significant remittance channels to enhance the efficiency of transactions within the substantial Philippine remittance market. Coins.ph plans to launch the stablecoin by early June, following comprehensive real-world application testing to potentially achieve full regulatory approval.

  • The Sonne Finance hacker address has exchanged 56 WBTC into about 1,185 ETH

    According to PeckShield's monitoring, Sonne Finance hacker address 0x6277...4c07 has exchanged 56 WBTC for approximately 1,185 ETH and 3 WBTC for 183,000 DAI.

  • ECB Governing Council: We are likely to start cutting interest rates in June

    ECB committee member Villeroy stated that it is very likely that we will begin cutting interest rates in June.

  • Former FTX executive Ryan Salame asks court for leniency, sentences him to 18 months in prison

    According to a sentencing memorandum submitted on Tuesday, former FTX executive Ryan Salame pleaded guilty in September of last year to conspiring to make illegal political contributions and conspiring to operate an unlicensed money transmission business. His lawyer requested leniency from the court and for him to serve an 18-month sentence. While working at FTX and Alameda, Salame managed wire deposits and fiat currency exchanges for FTX clients, used Alameda funds to make political contributions, and led charity efforts in the Bahamas.

  • MIIX Capital Crypto Weekly Report(0506-0512)Diminishing Uncertainty, Macro Signals Crucial

    Market volatility eases, US ETFs show net inflows, hinting at a rebound. DeFi, GameFi funding surges. BTC dip escalates losses, prompting oscillation. US inflation data pivotal.