Introduction to FVM
What is FVM
- The Filecoin Virtual Machine (FVM) is a robust WebAssembly (WASM) -based Virtual Machine, empowering developers to deploy smart contracts within the Filecoin network.
Why FVM?
The primary purpose of the FVM is to facilitate the execution of native Filecoin actors (Smart Contract), which can be developed using languages that compile to (WASM).
- FVM supports the cross-chain deployment of smart contracts designed for different runtimes, such as the Ethereum Virtual Machine (EVM), Secure EcmaScript (SES), and eBPF. This flexibility allows developers to leverage a wide range of programming languages and environments when creating applications and contracts for the Filecoin network.
- Similar to the transformative point when phones became programmable with the ability to write and install apps, the possibilities of phones expands beyond their default software, opening up new possibilities for innovation and marking a pivotal moment in technological advancement.
Why does it matter?
- Currently, Filecoin’s storage market stands as the predominant service integrated into the Filecoin blockchain.
- This means that individuals will have the opportunity to develop software governing aspects such as ‘what’, ‘how’, and ‘when’ data is stored, and even the parties involved (both storing and requesting the data) on the world’s largest open access storage network — Filecoin.
- This development will empower users to customize and optimize their storage solutions, further enhancing the flexibility and functionality offered by the network.
100 Days of FVM
Since FVM launched 100 days ago, on March 14, 2023, Filecoin has firmly established itself as a leading Layer 1 (L1) blockchain, uniquely positioned to drive the open data economy. During this time, the Filecoin network has witnessed significant growth in its open ecosystem, comprising developers, storage providers, storage clients, and various other participants. These includes:
- Fully autonomously facilitating and aggregating storage deals, assisting clients in finding the best storage provider for their specialized needs.
- Allow the community to build discovery, reputation services, increase transparency of the network, by pulling data directly from the Filecoin Blockchain to assist in guiding decisions.
- Multiple integrations over 35 cross-chain bridges.
- More than 1,200 combined unique smart contracts and dApps.
As the largest open access cloud service, Filecoin continuously expands its community to attract a diverse range of contributors and reinforcing its position as a prominent player in the decentralized storage space.
Stay tuned to the progress of Filecoin updates for the rise of multiple awesome platforms on top of FVM: decentralized computation, DAO-built generative AI & Large Language Models (LLM), marketplaces and many more!
About RRM Global
RRM Global is the world’s leading storage provider in Filecoin, and the only company to productized Filecoin Plus, with more than 20PiB of real data stored, transparent node data, and real-time visibility. As a leading company, we continuously grow and expand our storage power.
Through our services, customers can participate in data storage and profit alongside us while enjoying real-time visibility and reliability.
We are committed to providing maximized storage power for Filecoin and continuously improving and expanding to meet the evolving market demands.
Visit us 🔽 for more updates.
