Here’s the edited article in English with a crypto-focused tone: Filecoin Launches FVM, Enabling dApp Development

Filecoin has officially transformed into a true layer-1 blockchain with the launch of its Filecoin Virtual Machine (FVM), which now supports the development of decentralized applications (dApps) on its platform.

Filecoin Launches FVM, Enabling dApp Development

Filecoin (FIL), a cryptocurrency project focusing on data storage, is set to roll out its Filecoin Virtual Machine (FVM) on March 14. This new feature allows for the development of various applications on the Filecoin network.

FVM is expected to attract innovative ideas to the network, facilitate token transactions, support the creation of decentralized applications, and eventually help build a comprehensive crypto ecosystem.

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Lukkas Bresser, Ecosystem Development Director at Protocol Labs, the team behind Filecoin, told The Block:

“FVM will redefine Filecoin's utility and reposition it as a layer-1 blockchain with strengths in building an open data economy. A key upcoming milestone is transforming cloud storage services into open and public data trading markets.”

The Filecoin Virtual Machine promises to offer functionality similar to the Ethereum Virtual Machine (EVM), enabling developers to freely deploy their ideas. Additionally, Filecoin will support cross-chain interoperability. Bresser revealed that projects like SushiSwap, Axelar, and Celer have agreed to integrate with Filecoin.

New applications will be developed on Filecoin to enhance the blockchain's primary function of data storage. Instead of retaining data for 18 months before requiring manual renewal, new applications can extend storage duration to meet diverse user needs, potentially enabling monetization of this activity.

Another development direction suggested by the Filecoin director is decentralized social networks. Users will own their social media data, control access, and earn from advertisements. Data will be encrypted and stored on the Filecoin blockchain.

Bresser stated:

“I believe that the key components for a decentralized social network will be supported by Filecoin’s infrastructure. We are in discussions with several Web3 entities interested in social experimentation.”

Moreover, Filecoin asserts that it can support liquid staking, with details to be announced soon.

Additionally, FVM addresses criticism surrounding NFTs by storing image data directly on the blockchain, thus ensuring that unique token data is linked to the corresponding media.

“I believe FVM has the potential to create NFTs that not only prove ownership but also provide data storage for hundreds of years, making verification straightforward.”

While this functionality is still theoretical, Bresser is confident that Filecoin can support it and bring new energy to the crypto industry.

As of the evening of March 14, FIL price surged by 22% to $7.58, the highest value since mid-February.

4-hour chart of BTC/USDT on Binance at 07:15 AM on March 14, 2023