Summary of Introducing the Filecoin Virtual Machine

00:00:00 - 00:20:00

The Filecoin Virtual Machine is a system for allowing users to deploy smart contracts onto the Filecoin network. The project is still in development, but has received positive feedback from the Ethereum community. The Filecoin Virtual Machine is designed to be efficient and secure, and will be able to interact with the IPLD state tree.

• 00:00:00 The Filecoin Virtual Machine is a layer 0 of the stack that enables users to deploy their own smart contracts on the filecoin blockchain. This introduces the ability to perform on-chain computation or a computation of a state which can be thought as sort of like resolving the layer one of the file coin capability stack. Once you have layer 0 which is storage and you have a1 which is computation over state so this is on chain computation there are many many many new downstream use cases that can emerge. Some of these use cases are things like data daos, dataverse, tokenized data sets, nft minted exchanged and stored under a single roof, replication workers, trustless reputation systems, storage bounties and auction mechanisms, and more.
• 00:05:00 The Filecoin Virtual Machine allows for the execution of code on data, incentivizing its completion all the way to the end. This will allow for the tokenization of data sets and the creation of trustless reputation systems.
• 00:10:00 The Filecoin Virtual Machine is designed to be efficient and secure, inspired by concepts from computing and hypervisors. It is built on webassembly and will be able to interact with the IPLD state tree.
• 00:15:00 The Filecoin Virtual Machine is a Rust project designed to allow developers to deploy Ethereum smart contracts onto the Filecoin network. The project is in the early stages of development, but has received positive feedback from the Ethereum community.
• 00:20:00 The Filecoin Virtual Machine is a system for allowing users to program the network. Phase one of the roadmap introduces changes to the network to prepare it for user programmability. Phase two introduces native actors and EVM foreign actors, and phase three redesigns the system actors for improved programmability. There are still many unknowns, so the timelines might change in reality. However, these are tentative timelines. Finally, before leaving, the video plugs in a job opening for those interested in working on the Filecoin Virtual Machine.