According to CoinMarketCap, Filecoin Token Fill rose sharply on Friday. The jump sparked excitement on social networks over the launch of blockchain's Filecoinvm virtual machine (FVM), a software system that will introduce smart contracts that will allow developers to design decentralized applications on Filecoin networks.
The price of the coin jumped from $5.38 late at night eastern time to a peak of $7.82 just after 5 p.m. Eastern time. Us Eastern time (22:00 UTC). At the time of publication, FIL traded at $7.35, up 36.7%.
At this stage, it is not clear what contributed to the rise in the stock market.
Twitter user Evans Wu, who posted the article under the name of Wu Block chain, shocked the topic by sharing information about the gas station and its upcoming smart contract to more than 250000 fans.
FVM adding Filecoin will make the network a complete layer 1 block chain.
The network unveiled FVM at the FIL Malaysia conference in September and promised that the software system would support a range of customer-programmable applications such as permanent storage, storage copy and restore automation technologies, as well as liquid deposition through block incentives. The site can also support the establishment of technology-centric decentralized autonomous organizations (DAO), which will promote pay-per-item transactions to build applications such as Web3 games.
FVM will interoperate with the Ethernet Fong vm virtual machine (EVM), allowing Filecoin to generate cross-chain wireless bridges, allowing data encryption assets to be migrated from one blockchain network to another. Its compatibility with EVM and layer 2 blockchain will also reduce customer gas costs and increase buying and selling rates, which Filecoin expects to promote its use in decentralized finance (Defi) communities.
After a series of poor management of large and medium-sized digital currencies shaken investors' confidence in centralized trading centers, new Defi projects, including the development and design of the first-tier blockchain agreement, have gained strong followers.
Change (22:50 UTC, February 17, 2023): FIL prices rise between late night and 5 p.m. The length of time in the east is not coordinated universal time.
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