- Filecoin (FIL) is deploying its EVM compatibility tool, FVM, tomorrow.
- The Filecoin Virtual Machine will enable developers to build and deploy applications on the protocol using solidity.
- The launch of the FVM will allow anyone to interact with Filecoin’s state by simply deploying on the network.
Filecoin Set to Deploy Smart Contracts
Filecoin (FIL) is set to deploy its EVM compatibility tool tomorrow dubbed FVM. With current evolutions in the crypto and Web 3.0 ecosystems, pivoting into smart contracts development comes off as the most important move it needs to make in order to remain relevant. The Filecoin Virtual Machine will now enable developers to build and deploy applications on the protocol using solidity. According to the startup, the launch of the FVM will allow anyone to interact with Filecoin’s state – including metadata and transactions governing what and who stores data on Filecoin – by simply deploying on the network.
Functionalities of FVM Tool
The Filecoin Virtual Machine is best considered as the programmable controller of the Filecoin storage network with both systems built to work for each other in a very functional manner. While FVM does not directly interact with data stored on the network, it can orchestrate where and how data gets stored, edited, and maintained, giving rise to concepts like Data DAOs and programmable storage marketplaces. This implies that besides regular operations as a smart contract hub will be complemented by accessibility to other features that primarily characterize the Filecoin protocol.