Research Summary
The article discusses the evolution and future of Filecoin, a decentralized storage network. It highlights the introduction of the Filecoin Virtual Machine (FVM), which enables the execution of smart contracts and the creation of decentralized applications (dApps) on the Filecoin network. The FVM is expected to increase the utilization of the network and unlock new use cases. The article also emphasizes the potential of DataDAOs, which are DAOs focused on the preservation, curation, and promotion of valuable datasets. These DAOs can incentivize various stakeholders to contribute to the data value chain, from storage providers to data experts and machine learning engineers.
Actionable Insights
- Filecoin’s evolution: Filecoin has evolved from being just a storage network to a platform that can execute smart contracts and create dApps, thanks to the introduction of the FVM.
- Increased network utilization: The launch of the FVM is expected to increase the number of dApps and result in greater storage and utilization of the Filecoin network.
- Role of DataDAOs: DataDAOs can play a crucial role in the Filecoin ecosystem by incentivizing various stakeholders to contribute to the data value chain. This can enhance the value of data stored on Filecoin.
- Future developments: Future developments in Filecoin should focus on enhancing its computational capabilities and supporting existing machine learning models. This can be achieved through partnerships with decentralized cloud computing networks.
