An altcoin backed by a pair of famous Bitcoin (BTC) billionaires is emerging as the crypto project upgrade fast approaches.
New data reveals that storage-focused Filecoin (FIL) blockchain, backed by the Winklevoss twins, is skyrocketing as groundbreaking protocol upgrade looms.
Filecoin rose from a 24-hour low of $5.40 to $7.77, an increase of around 38%. Although the token has seen significant growth of late, it is still much lower than its all-time high of $25.98 set in March 2022.
filecoin is new improvementKnown as the Filecoin Virtual Machine, it is a runtime environment for smart contracts built on the Ethereum Virtual Machine (EVM), according to the project’s official website.
Their goal is to bring user programmability and smart contract capability to the altcoin, greatly expanding its potential and usefulness. The main network of the project is expected to go live within the next week or two.
“The Filecoin Virtual Machine EVM (FEVM) runtime is coming in February 2023 and will be one of the most innovative updates to the Filecoin network.
For the first time, developers will be able to implement user-defined smart contracts on top of the Filecoin blockchain and storage network, with the ability to write them in Solidity and deploy them using the many EVM-compliant development tools that Web3 developers can use. know and love. .”
The Winklevoss twins first invested in Filecoin in 2017 through their venture capital firm. They then co-founded the Gemini cryptocurrency exchange.
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source: dailyhodl.com