Filecoin v16 Network Upgrade Completed: Skyr, More Imagination on FVM
The Filecoin v16 Skyr upgrade — the deployment of Milestone 1 of the Filecoin Virtual Machine to the Filecoin network was successfully completed on July 6th.
As a leading builder of the Filecoin ecosystem, FilSwan joined FVM Foundry’s Early Builder Program and participated in the development of the FVM. We are delighted to see the upgrade and are dedicated to making our contribution to the further development of the Filecoin Virtual Machine.
The Skyr upgrade delivered FVM-related Filecoin Improvement Proposals (FIPs) to the network.
FIP-0030: FVM was introduced
FIP-0031: Atomic switched to non-programmable FVM
FIP-0032: Gas Fee model tunned for non-programmable FVMs
FIP-0027: Gas model matches non-programmable FVM
The non-programmable FVM based on WASM was introduced, and these upgrades bring us to the first milestone of the FVM roadmap. According to Roadmap, the milestone M2.1 will be achieved next. By then the native FVM user execution components will be deployed, with SDKs, tutorials, and various development tools and materials combined to support the function of smart contracts on Filecoin.
FVM brings more possibilities to Filecoin
The Filecoin Virtual Machine (FVM) is an IPLD-based and WASM-based execution layer that can run any user-provided code. Although FVM is currently not programmable, according to the developer’s presentation at the FIL-Toronto summit, they will create a usable EVM bytecode execution environment, and then the EVM sandbox and FVM/WASM sandbox environment, for different developers to deploy contracts. The work is currently in progress and is expected to be released in the third quarter of this year.
In the near future, developers will be able to use the WASM and EVM environment for smart contract development. This is of great significance to the Filecoin ecosystem building.
In Web3, the ownership of data will be transferred from centralized companies to data producers (users), making data storage a key and distributed storage an important link. The Filecoin network, already in possession of a 17EB storage capacity today, will surely be a key data repository in the Web3, and the application ecology built on Filecoin will usher in an explosion.
FVM introduced smart contracts to the Filecoin network, which will prompt a large number of storage applications. Developers could manage data through deployed contracts, so as to protect the ownership of their data. Additionally, enormous storage demands brought by various Metaverse applications will further promote the development of Filecoin.
FVM and MCS
FVM could bring unlimited imagination to the Ethereum developers, meaning that the interest for cross-chain functions based on Filecoin and other on-chain resources will also grow. What will this bring to Multi-Chain Storage(MCS)?
For MCS, the cross-chain payment function of storage resources is mainly realized through calling API in the Filecoin network and deploying smart contracts on public chains that support EVM, such as Polygon. This method is efficient, occupies fewer resources on the blockchain, and has a low handling fee.
However, when smart contracts are jointly deployed on Filecoin and Polygon for cross-chain application of storage resources, the execution resources of smart contracts on the chain will be much occupied. More seriously, when large files need to be processed, the handling fee and resources needed in executing smart contracts will be huge, and congestion problems will arise.
The above-mentioned problems are especially evident when the ecosystem on the chain is prosperous. However, on the whole, the method used by MCS occupies very few resources for the execution of contracts on the Filecoin chain, while the execution efficiency is relatively high, which is more suitable for the cross-chain requirements of processing a large number of data files. And when the Filecoin ecosystem develops to a certain extent, the use of MCS will show obvious advantages.
The development of the Filecoin ecosystem is closely related to the data storage DApp on the chain. The rapid development of various storage applications on the Filecoin chain will not only attract the participation of more developers but will also indirectly increase the application requirements of more projects for MCS.
Contact Us
Email: team@filswan.com
Follow Us On
· Discord: https://discord.com/invite/KKGhy8ZqzK
· Telegram: https://t.me/filswan
· Twitter: https://twitter.com/0xfilswan
· GitHub: https://github.com/filswan
· FilSwan Website: https://filswan.com/
· YouTube: https://www.youtube.com/channel/UCcvrZdNqFWYl3FwfcHS9xIg
