Filecoin, one of the leading decentralized garage networks, has announced the launch of its highly anticipated Nv22 Dragon upgrade, marking a milestone for the ecosystem. This update introduces several revolutionary enhancements to address knowledge integration for garage vendors.
Direct data integration streamlines the process of adding data to the network, leading to significant cost savings for shop providers. By simplifying the core protocol, this feature not only reduces operational expenses but also expands the possibilities of workshop marketplaces created on the Filecoin Virtual Appliance (FVM). ).
The upgrade brings primary innovations to the Filecoin ecosystem, adding direct integration of knowledge, which lowers prices for garage providers by adding knowledge to the réseau. @momack28, leader of the engineering research working group in. . . pic. twitter. com/pJXox7mIkE
– Filecoin Foundation (@FilFoundation) April 25, 2024
Among the notable innovations incorporated in the Lv22 Dragon upgrade are faster block times achieved by transitioning to the new Drand mainnet. This optimization reduces block time from 30 seconds to 3 seconds, network power, and responsiveness.
In addition, the update includes cutting off the automatic approval of cron transactions, getting better security measures, and adding occasions to enable smarter contract scheduling with FVM.
In a broader context, Dragon’s upgrade underscores Filecoin’s commitment to boosting affordability for garage providers while also creating new opportunities for developers and developers within the ecosystem. The Filecoin network is ahead to take advantage of the enhanced features introduced through the Nv22 Dragon upgrade, paving the way for cutting-edge programs and advancements in decentralized garage technology.
Earlier this year, in February 2024, Filecoin announced its integration with the Solana blockchain network. Filecoin has emphasized the importance of leveraging its decentralized storage capabilities, noting that Solana gains advantages from increased knowledge redundancy, scalability, and security while adhering to its decentralized strategy. Principles.
The integration of Filecoin generation allows Solana to optimize its block history, making it more available and usable to stakeholders such as infrastructure providers, explorers, indexers, and others who require access to old data.
In a development, Swan Chain is introducing an EVM-enabled layer-2 network, merging Filecoin’s decentralized garage solution with synthetic intelligence and knowledge-free marketplaces. This cutting-edge merger will revolutionize AI and Web3 by offering enhanced features and power within decentralized ecosystems, Crypto News Flash reported.
On the other hand, Filecoin’s DeFi ecosystem has also been booming since 2024. Nearly a year after the creation of Ethereum-inspired contracts, liquid staking protocols are seeing a significant expansion on Filecoin, a blockchain famous for its knowledge storage capabilities.
From the beginning of the year to today, the total price of cryptocurrencies locked in Filecoin’s twelve liquid staking protocols has increased from $272 million to over $450 million, indicating a developing trend among users who are familiar with Filecoin and its emerging decentralized finance (DeFi). ). ecosystem. This accumulation highlights the growing adoption and maturation of Filecoin’s DeFi offerings, indicating promising developments for the platform’s long-term.
Filecoins’ local cryptocurrency, FIL, advanced earlier this year to $10. At press time, Filecoin (FIL) is trading at $5. 97 with a market cap of $3. 245 billion.
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