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Filecoin News 81

✨ Highlight ✨

🔙 Filecoin in 2023: Expanding from a storage network to enabling open services for data

In 2023, Filecoin expanded its ecosystem significantly, marking its evolution from a decentralized storage network to enabling a broader range of open services for data. The year witnessed the launch of the Filecoin Virtual Machine (FVM), facilitating smart contracts and user programmability, and positioning Filecoin as a foundational layer for the open data economy. With over 200 projects building on FVM, the introduction of this technology has led to a surge in Total Value Locked to $280 million, highlighting robust growth. Additionally, the network saw a quadrupling in client data onboarded, reaching 2 million terabytes and expanding its client base across various sectors. Filecoin also improved data retrievability through projects like Boost, and established itself as a Layer 1 platform for Compute Networks, paving the way for large-scale computation over its data infrastructure. Furthermore, with the development of InterPlanetary Consensus (IPC), Filecoin aims at achieving web-scale applications through scalable subnets and rapid transactions, underscoring its continuous growth and innovation towards a decentralized future.

For a full overview of the top technical and development achievements made by the Filecoin ecosystem in 2023, read this article. Stay tuned for part 2!

🤝 Community Updates 🤝

🚀 FF Successfully Deploys IPFS in Space

Filecoin Foundation (FF) successfully completed a first-of-its-kind mission deploying the InterPlanetary File System (IPFS) in space. The recent demonstration involved sending files from Earth to orbit and back using an implementation of the IPFS protocol designed for space communications.

This mission, conducted with Lockheed Martin-developed software, demonstrated how IPFS – a decentralized content distribution system – can bring the benefits of decentralized technologies to space to enable better communications across long distances and resilience in challenging environments. Read all about it in this blog

📇 Unveiling the New Filecoin Ecosystem Explorer

Introducing the Filecoin Ecosystem Explorer, a crowd-sourced and open database that showcases the incredible breadth and depth of projects in the Filecoin ecosystem. This is the best place for community members to add to or browse the ever-growing list of products and services running on Filecoin. While this is not an exhaustive list, given the network’s dynamic growth, the database serves as a launching pad for exploring the ecosystem. This index is only as good as the ecosystem makes it! If you don’t see your project listed, add it today.

📁 FileDrive 2023 Annual Report

FileDrive Labs, a Filecoin Ecosystem project, has just released its 2023 Annual Report, showcasing a year marked by resilience and innovation. As a key player in the Filecoin ecosystem, FileDrive specializes in high-performance, user-friendly web3 storage solutions. From strategic collaborations with BifrostFinance, to the launch of the groundbreaking HASS Sector Storage Software, FileDrive Labs advances technology, constructs products, and expands ecologically in decentralized storage. Check out the month by month report

💼 Business Models on the FVM 

In this recent article from Filecoin TL;DR, Jonathan Victor delves into Filecoin’s expanding economy of open data services, introducing FVM as a pivotal tool for composing various services within the network. While Filecoin presently centers on storage services, the FVM facilitates the creation of smart contracts, uniquely pairing web3 offerings with real-world services like storage and compute in an open market. The blog explores a compelling use case, perpetual storage, motivating the development of services like Aggregator/Caching Nodes, Trustless Notaries, and Retrievability Oracles to manage data flows. The economic loop is outlined, highlighting the significance of revenue generation to cover storage and repair costs, with discussions on staking, cross-chain messaging, and automated market makers. The article concludes by underscoring the FVM’s capacity to broaden the design space for developers, fostering connections between existing protocols and services, and anticipating the emergence of new business opportunities within the Filecoin ecosystem. Read it for yourself!

⛏️ Web3Mine Emerges from Stealth Mode with $6M Seed Funding

Web3Mine has emerged from stealth mode after securing $6 million in seed funding in 2022. Led by prominent Web3 investors such as 1kx, PL Ventures, and a community of angel investors, web3mine seeks to empower global collaboration in facilitating the transition to community-owned and -governed internet infrastructure. Web3Mine has made significant strides to date, offering hardware monetization and liquid staking solutions for Filecoin. By creating a liquid staking layer, the lab simplifies mining FIL, enhancing operational efficiency and cost savings for hardware operators, with stakers enjoying estimated annual percentage yields of up to 25%. As web3mine expands its services, it aims to accelerate the transition to community-owned and governed decentralized infrastructure and protocols. Read more!

🛠️ Tools 🛠️

🪐 Filecoin Saturn Unveils a Private Beta for Websites

Filecoin Saturn, a cutting-edge Web3 CDN, is unveiling a private beta for websites! If your website loads content from IPFS and/or Filecoin, supercharge its performance with Saturn’s lightning-fast, global network. Join the beta now!

🌳 Transitioning to Forest’s Latest Snapshot Hosting Service

Since mid-2023, Forest has been a pioneer in offering the latest snapshot service for the Filecoin network. Starting January 2024, Filecoin operations will deprecate the use of the latest snapshot hosting service (with Lotus). We strongly urge the Filecoin community, including storage providers, node operators, and FVM developers, to shift to Forest snapshots for their use cases. The Forest team is available to provide guidance and support during this transition. Please note that Forest snapshots may be slightly larger (up to 15%) to accommodate Forest-specific features, and Lotus users can continue using them as usual. We appreciate the community’s cooperation and look forward to continued support for your storage and development needs with Forest’s latest snapshot hosting service.

🎉 Events 🎉 

🗻 Filecoin Foundation at ETHDenver

Filecoin Foundation will return to ETHDenver from February 28th to March 3rd on the show floor featuring a series of lightning talks, tech demos, and spotlights on Filecoin ecosystem projects and initiatives. Fill out this form if you are interested in giving a talk or demo at the Filecoin Foundation booth.

Filecoin is an open-source cloud storage marketplace, protocol, and incentive layer.