The decentralisation of data storage and distribution has become a reality with the rise of IPFS and Filecoin. The development of the FVM by Protocol Labs has taken a major step forward with its mainnet release, while the IPVM is still in its developmental phase. These virtual machines will give programmers fresh options to build dapps that directly utilise the IPFS and Filecoin networks. We'll look into the possibilities of these virtual machines and how it can affect computation in the future in this post.

IPFS: Revolutionizing Distributed Storage

IPFS is designed to create a distributed and decentralized file storage system. In IPFS, files are broken down into smaller chunks called "blocks" and are given a unique hash called 'CID'. These blocks are then distributed across a network of computers, known as nodes, and can be accessed by anyone with the hash.

One of the advantages to use IPFS

The potential of IPFS is to offer a permanent and immutable data storage solution is by far its greatest benefit. Once a file is uploaded to the network, it cannot be modified or removed, guaranteeing the security and integrity of the data.

IPFS also provides a lot of benefits over conventional storage options. Since files are kept closer to the user, it is more resistant to censorship and enables faster data retrieval. It also eliminates the requirement for a centralised middleman to handle and store data, resulting in a more decentralised and secure system.

Filecoin: The Future of Decentralized Storage and Computation

Filecoin network is a robust platform to verifiably store and access NFTs, public good datasets, web3 assets, and more. Think of it as the I/O layer of web3. But this is only the tip of the iceberg. There’s a ton more value and potential to be unleashed with the introduction of general smart contract programmability to the Filecoin network. Layering computation on top of storage also opens new dimensions for cross-chain interoperability and integration in a trustless manner.

The role of the Filecoin Virtual Machine (FVM)

FVM is Ethereum-compatible and aims to be a polyglot VM, with the native runtime being WASM. This allows for native actors to be written in any programming language that compiles to WASM, making it easier for web2 developers to onboard onto web3. The FVM is designed to enable on-chain computation over state and off-chain computation over data. It is compatible with the Ethereum toolchain and existing smart contracts, making it possible to reuse audited and battle-tested smart contracts.

Potential use cases for the FVM on the Filecoin network include data-centric Decentralized Autonomous Organizations (Data DAOs), replication clients, alternative storage markets, collateral loans, and computation-over-data.

Introduction to IPVM:

IPVM, or the InterPlanetary Virtual Machine, is a decentralized computation system that operates on the decentralized web. Unlike traditional computation systems that rely on centralized servers to store and run programs, IPVM uses content addressing and cryptographic hashing to represent data and link to it, making it a content-based system. The system is designed to efficiently and securely handle distributed computation tasks, and its architecture provides a host of advantages over traditional computation systems.

How IPVM will work:

When interacting with IPVM, users submit a request in the form of a CID, which includes a content address for a program and a content address for data. The system then uses a distributed scheduler to decide which node in the network will run the operation, optimizing efficiency and reducing computational load. IPVM also employs memoization, which allows it to optimize operations by identifying and reusing previously computed outputs, further reducing the need for redundant computations.

Advantages of IPVM over traditional computation approaches:

One of the main advantages of IPVM over traditional computation approaches is its decentralized architecture. IPVM operates on a distributed network of nodes, which means there is no central point of failure or control. This makes IPVM highly resilient, secure, and censorship-resistant. Additionally, IPVM's use of memoization and other optimization techniques results in a more efficient use of computational resources, reducing costs and increasing performance.

Another advantage of IPVM is its ability to run programs in any language that compiles to WASM, the native runtime of the FVM. This means that developers can write programs in their preferred programming language, making it easier and faster to onboard web2 developers onto web3. Additionally, the FVM is EVM compatible at the bytecode level, which means that existing smart contracts developed on Ethereum can be reused on Filecoin, leading to a faster development cycle and increased interoperability.

Conclusion

FVM and IPVM are powerful technologies that can revolutionize the way we approach computation and data storage. With FVM's ability to securely and efficiently store large amounts of data on the decentralized IPFS network, and IPVM's ability to execute complex computations in a decentralized manner, the possibilities for innovative applications are endless. From supply chain management to medical research and beyond, FVM and IPVM can help solve some of the most pressing challenges facing our society today. As these technologies continue to evolve, it will be exciting to see what new use cases emerge and how they can help shape the future of technology.