The Decentralized Finance (DeFi) ecosystem and its storage diversity is set to take another leap forward with Filecoin's launch of their Filecoin Virtual Machine (FVM) Protocol. Through the inclusion of this smart contract support and decentralized application launchpad, FVM has made Filecoin an increasingly attractive asset when it comes to data DAOs, metaverse gaming, and its traditional strength as a file storage service provider.

The fresh FVM unveiled has enabled programmability across the Filecoin network. This has opened the door for the blockchain to be used for an expansive spectrum of activities beyond storage deals, simple transactions and storage proofs, including EVM compatibility, allowing for the speedy deployment of Ethereum smart contracts.

Meanwhile the Interplanetary Consensus Framework (IPC) previously known as Hierarchical Consensus has been welcomed with open arms. This solution specifically looks to tackle two niggling issues blockchain networks often face - scaling and heterogeneity of applications. IPC will make it possible for multiple subnets to scalably increase transaction volumes and run simultaneously, while minimising the extra load placed on the Filecoin mainnet.

The progress being made by blockchain networks to improve scalability and compatibility has been nothing short of remarkable. Cardano are making strides towards the launch of their Hydra protocol, followed by Ethereum with their popular layer-2 protocols and rollup scaling solutions. All these solutions come with their unique strengths and weaknesses, and it is only through their continual development that blockchain networks can be made that much safer and specific activities scaled up.



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