Earlier this month, the Filecoin community convened for the first-ever FIL Toronto. From July 4–6, attendees gathered to discuss new features, partner tools, and other developments in the Filecoin ecosystem.
The collaborative three-day event was hosted by FilSwan, with support from Filecoin Foundation through the Filecoin Orbit Community program. Speakers represented a variety of projects and organizations including Protocol Labs, Fil+, Filswan, Lotus, Estuary, Chainstorage, and many others excited to share their expertise with the growing Web3 community in Toronto.
Compute Over Data
One highlight was a presentation from the team at Bacalhau, an open-source compute over data (COD) project built on the Filecoin network. (Fun fact: “bacalhau” is the name of the dried, salted cod fish that is the national dish of Portugal, where the project originated.) Despite the attention and funding committed to the issue of data storage, Bacalhau’s David Aronchick said businesses still find it challenging to manage unstructured data efficiently, costing organizations time and money because of poorly processed data.
By focusing on data developers, Bacalhau aims to transform how data is used, simplify data development, deliver performance improvements, and launch a collaborative scientific community. To do this, Bacalhau leverages the computing power and data that Filecoin storage providers host to enable the execution of relatively low compute activities, which can represent an additional revenue stream for the storage provider.
The Future of Filecoin
Juan Benet, founder of Protocol Labs, took the stage to outline recent developments toward the “Filecoin Master Plan” to build the world’s largest decentralized storage network. Notably, Juan shared that new updates to the Filecoin Virtual Machine (FVM), including compatibility with the Ethereum Virtual Machine (EVM), are planned for later this year. This compatibility will allow EVM smart contracts to interact with built-in actors.
Juan also provided information on how developers can plug into the FVM, including a new builders’ cohort that will focus on establishing new use cases for the virtual machine. Developers can subscribe to receive updates on FVM specs as they evolve and follow other development activities throughout the ecosystem. FVM will be front and center in the coming months, and Juan said that opportunities to join the project were plenty — from RFPs to job openings.
Developer Grant Opportunities
Filecoin Foundation’s Erin O’Connor shared information on the different types of grants available to developers working on the Filecoin network. There are grants for projects at every stage of development including:
- Next Step Microgrants — these are grants of US$5,000 (paid in FIL) designed to support “next step” development in early stage projects that are built with Filecoin, IPFS or related technologies.
- Open Grants — these are allocations in varying amounts larger than US$5,000 that support novel and exciting ideas that advance the greater Filecoin ecosystem.
- Request for Proposals — these grants are intended for teams that want to complete pre-identified work specified in a proposal. The amount and timeline will vary according to the work being completed.
Storage, Computing, and Beyond for Web3
Charles Cao, FilSwan’s founder, gave a speech on how to use FilSwan to implement Web3 storage, computing, and other applications. FilSwan, as a solution provider for underlying Web3 services such as distributed storage and cross-chain payment, has run more than 50 service nodes. They provide different public chain resources through cross-chain technology, achieve zero data loss for users through cross-chain contracts, and provide Web3 community DAO governance.
The cross-chain payment function of FilSwan’s core product Multi-Chain Storage (MCS) enables users to complete the storage and payment of files in the Filecoin network on the Polygon chain so that users can generate NFT assets with one click. In later stages, FilSwan will expand the implementation and application of functions in various fields including cross-chain resources, Data DAO, edge computing, , and fully serve the Web3 application layer.