Filecoin Takes First Step Towards Enabling On-Chain Smart Contracts Through Filecoin Virtual Machine Milestone

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1 min read

Filecoin,  a decentralized storage network designed to store humanity’s most important information, has achieved its first milestone in introducing its Filecoin Virtual Machine (FVM) by introducing a non-programmable WASM-based FVM. 

Now, any node operator can sync the Filecoin Mainnet using the FVM and Rust built-in actors, integrated in lotus, venus, forest, and fuhon implementations. Mainnet has switched from the legacy VMs to the WASM-based reference FVM. 

The Filecoin Virtual Machine is being introduced incrementally. This minimizes the risk of disruption to the network and gives developers plenty of opportunities to engage early on. Upon completion, it will unlock a host of possibilities, ranging from programmable storage primitives (such as storage bounties, auctions, and more), to cross-chain interoperability bridges (such as, trustlessly connecting Filecoin with Ethereum, Solana, NEAR, and more), to data-centric Decentralized Autonomous Organizations (DAOs), to Layer 2 solutions (such as reputation systems, data availability sampling, computation fabrics, and incentive-aligned Content Delivery Networks), and more.

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