Filecoin Lotus v1.20.0 Released: EVM-Compatible Smart Contracts Now Deployable on Filecoin
It is reported that Filecoin Lotus v1.20.0 has been released. The Filecoin network will be upgraded to V18 (Hygge Network Upgrade). This network upgrade is man…
It is reported that Filecoin Lotus v1.20.0 has been released. The Filecoin network will be upgraded to V18 (Hygge Network Upgrade). This network upgrade is mandatory. The core of the upgrade is the introduction of Milestone 2.1 of Filecoin Virtual Machine (FVM), which will make it possible to deploy EVM-compatible smart contracts on the Filecoin network. This upgrade will provide users with programmability for the first time for the Filecoin network.
Filecoin main network will be upgraded to V18 on March 14
Interpretation of the news:
Filecoin Lotus v1.20.0 has been released, bringing about a mandatory network upgrade to V18, called Hygge Network Upgrade. The core of this upgrade is the introduction of Milestone 2.1 of Filecoin Virtual Machine (FVM), which will allow for the deployment of EVM-compatible smart contracts on the Filecoin network. This upgrade marks a significant milestone for the Filecoin community, as it enables users to program and automate various functions on the network, marking a significant advancement in Filecoin’s capabilities.
This upgrade is mandatory for all Filecoin nodes, and users are urged to update their nodes to ensure full compatibility with the network. Hygge Network Upgrade promises to improve the network’s overall performance, security, and scalability, as well as increase Filecoin’s usability by providing programmability for smart contracts. With the FVM Milestone 2.1 release, Filecoin is prepared to take on larger data storage and retrieval tasks, which would significantly enhance its usability.
This upgrade brings about a broader scope of use cases, allowing developers to migrate existing smart contracts to the Filecoin network, decreasing the risk of downtime and ensuring that contracts operate more cost-effectively. The FVM Milestone 2.1 release is a significant achievement for the Filecoin community, rendering programmability on the network possible for the first time. Filecoin is progressively establishing itself as a significant player in the blockchain space as more and more developers begin to see the advantages of its decentralized data storage system and the support for smart contracts.
In conclusion, Filecoin Lotus v1.20.0’s release and the accompanying Hygge Network Upgrade signify a crucial step forward for the Filecoin community. The introduction of Milestone 2.1 provides a tool that developers can utilize to migrate existing smart contracts to Filecoin, resulting in greater efficiency and cost savings. The FVM Milestone 2.1 release provides programmability on the network, highlighting Filecoin’s maturation as a blockchain platform. The Filecoin community is now preparing to take on more extensive data storage and retrieval tasks as it continues to expand its capabilities, a significant milestone for the project.
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