Filecoin Virtual Machine (FVM) Launches to Revolutionize Decentralized Compute and Unlock the Potential of Open Data Economy

New Layer 1 Smart Contract Capabilities to Bring User Programmability to Filecoin

PALO ALTO, Calif., March 14, 2023 /PRNewswire/ -- – Filecoin Virtual Machine (FVM), an execution environment for smart contracts on the Filecoin network, is now live on the Filecoin mainnet. The FVM launch adds smart contracts and user programmability to the Filecoin blockchain, unlocking the enormous potential of an open data economy.

With FVM, developers can write and deploy custom code to run on the Filecoin blockchain, allowing them to connect, augment, and innovate around the building blocks of the Filecoin economy: storage, retrieval, and computation of content-addressed data at scale. This represents a major advancement in the capabilities of decentralized storage.

Today's introduction of the FVM is part of Filecoin's larger roadmap, which aims to democratize the services of today's centralized cloud into open-access markets.

Juan Benet, CEO and founder of Protocol Labs, said:  ""FVM is a major step forward for blockchains and Web3 - it enables developers to build new kinds of applications, bringing the powers of smart contracts to large scale data."

FVM will empower builders to create entirely new categories of custom apps, markets, and organizations built around data stored on Filecoin. These include:

For more information, visit https://fvm.filecoin.io/

Let's build!

About Filecoin Virtual Machine:

Filecoin Virtual Machine (FVM) is an execution environment for smart contracts on the Filecoin network. It allows anyone to interact with the metadata and transactions stored on Filecoin's storage network, bringing user programmability to Filecoin, and unleashing the open data economy.

About Filecoin

Filecoin, the world's largest decentralized storage network, enables users to store, request and transfer data via a verifiable marketplace. Filecoin's advanced technology provides a robust foundation to store the world's most valuable datasets. An alternative to costly cloud storage, the Filecoin network offers efficiently priced and geographically decentralized storage, minimizing financial barriers and allowing users to take advantage of its unmatched network capabilities. Filecoin is completely open source, enabling people from all over the world to participate.

About Protocol Labs:

Protocol Labs is an open-source research, development, and deployment laboratory that builds protocols, tools, and services to radically improve the internet. Protocol Labs' projects designed to fortify and democratize the web include IPFS, Filecoin, Filecoin Green, libp2p, and more. A fully distributed company, Protocol Labs is dedicated to driving breakthroughs in computing to push humanity forward.