Original source:Filecoin Network

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Filecoin Virtual Machine (FVM)

Filecoin Virtual Machine (FVM)

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To support web-scale applications, you need storage and programmability. Protocol Labs created the Filecoin Virtual Machine (FVM), bringing general programmability to the Filecoin storage network. The FVM virtual machine can combine the capabilities of smart contracts and verifiable storage. Such smart contracts could edit storage space, support a low-collateralization storage provider lending market, drive data DAOs, and more. By bringing smart contracts and user programmability to the Filecoin blockchain, the FVM virtual machine unlocks the enormous potential of the open data economy. Learn more on the Filecoin blog.

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The great significance of the FVM virtual machine is that it allows Web3 applications to behave in a similar way to Web2 applications. The release of the FVM virtual machine has consolidated Filecoin's position as the best L1 protocol for the open data economy. It supports these processes in a decentralized space and has many unique advantages.

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The M1 milestone upgrade achieved in 2022 represents the most significant transformation of the Filecoin network since its launch. In the spring of 2023, the Filecoin EVM virtual machine runtime (runtime) will be deployed on the main network through the n v1 8 Hygge upgrade. Throughout 2023, the FVM virtual machine will gradually upgrade the protocol, continue to promote its programmability roadmap, and migrate system functions from dedicated space to user space. The result will be a lighter and more free Filecoin protocol.

Data Computing (Bacalhau)

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Now I would like to introduce Bacalhau, which is an open, transparent and distributed computing platform with verification mechanism, which can help you run concurrent computing processes. Bacalhau allows users to run arbitrary Docker containers and WASM images to perform computations on data on IPFS. This architecture is called Compute on Data (CoD). Fun fact: The word Bacalhau comes from the Portuguese word for "salted cod."

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Bacalhaua and its data computing architecture are designed to address deep-seated problems in the data management space, such as high cost and closed design. This innovative architecture provides developers with low-cost, decentralized tools that are expected to unlock new types of collaborative ecosystems. Bacalhau allows users to run arbitrary Docker containers and WASM images to perform computations on data stored in IPFS. Bacalhau is a peer-to-peer node network, and each node participating in computing tasks will submit tasks to the cluster.

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In December 2022, Bacalhau released the Beta v1 version. Engineers and researchers have successfully integrated and used Bacalhau. Highlights of the latest release include a Python SDK, optimized Bacalhau network scalability, and HTTP(S) networking designed for specific user domains (click here to learn more). At the end of the year, Bacalhau will provide a fully distributed data processing system, which can run on all kinds of devices in all places, and its functions will be more powerful. To learn more about the latest developments in the field of data computing, please subscribe to the newsletter.

search market

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The Filecoin search market provides a decentralized content delivery network (CDN) for this network. On IPFS and the Filecoin network, there are billions of requests for content-addressed data each week. In this area, the team continues to tackle challenging problems such as designing ultra-fast payments for data retrieval, data transfer protocol enhancement mechanisms, and cryptoeconomic models.

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A growing search marketplace enables anyone to contribute resources and reap the benefits of distributing relevant data. In fact, distributing these files quickly and reliably is a much bigger market than storing them. This makes sense, since we want videos and images to load quickly no matter where we are in the world. According to Vantage Market Research forecasts, the global CDN market is expected to be twice the size of the cloud object storage market by 2025.

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next step

The fourth quarter of 2022 will witness the consolidation of the FVM virtual machine and retrieval markets, which will be a major transformation that will shape the future of Web3. This year will bring more use cases in the decentralized search market, which will further narrow the gap between Web2 and Web3.