Latest Filecoin News

BlockDAG's X1 mining app has surged to 100,000 users, raising over $65.6 million in its presale. Filecoin and Bitcoin Cash holders are closely monitoring the project as it outperforms major coins in the market. Filecoin faces challenges after a significant drop post-March correction, while Bitcoin Cash shows mixed sentiment with a potential 15% rise. BlockDAG's X1 app has turned smartphones into mining devices, attracting high investor interest and achieving a 1600% price surge. With a promising future and innovative technology, BlockDAG is set to deliver substantial returns, making it a top choice for investors seeking groundbreaking projects.

In Q2’24, Filecoin saw a 6% drop in active storage deals but a growth in storage utilization from 23% to 26%. Over 2,000 clients have onboarded data, with 518 adding large datasets over 1,000 TiB. The Filecoin Virtual Machine (FVM) has over 3,700 unique contracts, with a total value locked (TVL) reaching an all-time high of 63 million FIL. Filecoin is developing as a decentralized physical infrastructure network, offering new data services and aiming to increase enterprise adoption. Protocol upgrades like the FVM and Interplanetary Consensus (IPC) are enabling compute-over-data services, which are crucial for the network's growth.

The Filecoin network is set to undergo the NV23 upgrade, also known as 'Waffle', aimed at improving network performance and integration with the broader blockchain ecosystem. South Korean exchange Upbit will temporarily freeze Filecoin (FIL) deposits and withdrawals starting August 6 to ensure a smooth transition during the upgrade. Users need not worry about their assets as services are expected to resume once the upgrade is complete. The upgrade will bring benefits such as faster transaction processing, simplified storage additions, and support for legacy Ethereum transactions. Stay tuned for updates on the NV23 upgrade and service resumption through official channels.

Lava Network has launched its public mainnet with $2 million in incentive pools from supported ecosystems, attracting high-quality infrastructure providers like Google Cloud. The mainnet debut features the community-first launch of the LAVA token, aiming to increase decentralization and participation. With support from Filecoin Network, Starknet Foundation, and Cosmos Hub, Lava Network focuses on providing quality nodes to boost interoperability and network reliance. Illia Polosukhin, Co-Founder of NEAR Protocol, praised Lava Network for decentralizing the NEAR RPC layer and improving the experience for developers and users.

Filecoin's upcoming 'Waffle' upgrade, NV23, is set to enhance the network's performance and integrate Ethereum transactions, aiming to improve storage efficiency and broaden ecosystem integration. Key features include a soft launch of Fast Finality, support for legacy Ethereum transactions, and a non-interactive proof of replication to streamline the sector sealing process. These improvements are expected to accelerate network growth, open cross-chain applications, and reduce transaction confirmation times. Additionally, Filecoin is collaborating with AI projects to advance decentralized AI infrastructure, emphasizing its role in the AI data storage space.

Filecoin's price surges with the announcement of the Waffle network update, set for August 2024, promising performance enhancements and new capabilities. The update includes support for Ethereum transactions and a non-interactive proof of replication. Filecoin's strategic partnership with SingularityNET aims to revolutionize AI data storage, positioning Filecoin as a leading DePIN project for AI. The price rally is supported by an increase in trading volume and positive technical indicators, with the potential to break resistance levels for continued growth.

The crypto market is currently calm, with altcoins at an advantageous entry point for potential growth. Trends such as Real World Assets, Decentralized Physical Infrastructure Networks, and AI coins are gaining attention. CYBRO's presale has reached $1.3 million, offering investors significant returns and benefits. Render (RNDR) shows signs of a possible price increase, while Filecoin (FIL) and Ondo (ONDO) also indicate bullish potential despite minor dips. JasmyCoin (JASMY) offers a glimmer of hope in the market.

IoTeX, a modular Web3 infrastructure, has announced the launch of IoTeX 2.0, which aims to connect real-world data and smart devices to blockchains. The launch is supported by various partners including Near, Filecoin, RISC Zero, and Espresso. Decentralized physical infrastructure networks (DePINs) have the potential to transform applications such as wireless services and smart home technologies. The DePIN sector is expected to reach a market value of $3.5 trillion by 2028. IoTeX 2.0 adopts a modular approach to simplify the development process, making it easier to launch new DePIN applications. The launch features partners like ChainML for AI integration, OKX for wallet solutions, and The Graph for indexing. IoTeX 2.0 also introduces the Modularity Security Pool (MSP) to promote growth and sustainability within the ecosystem. The project aims to lower barriers to entry and stimulate innovation, allowing a broader range of participants to engage with the technology.

FILLiquid participated in the FIL Brussels event, a significant gathering in the Filecoin ecosystem, discussing AI, DePIN, and Compute. The event, organized by the Filecoin Foundation, featured talks and workshops with industry leaders. Arthur Tan, CEO of FILLiquid, highlighted the company's innovative Filecoin-based liquidity leasing solutions, aiming to enhance sustainable storage power growth. FILLiquid's open-source protocol has been audited for security, offering a unique feature connecting FIL holders with storage providers for passive income opportunities. Currently in its testnet phase, FILLiquid is gearing up for mainnet launch, with participants eligible for a free $FIG token airdrop.

Filecoin is advancing its integration with AI through strategic partnerships, enhancing its decentralized data storage network. Collaborations with Theoriq and Nuklai aim to develop smart AI agents and support AI applications with robust databases, while the integration with DePIN connects blockchain with real-world assets. The partnership with SingularityNET strengthens governance and research, fostering community growth. Despite challenges like scalability and regulatory compliance, Filecoin introduces FileMarket for data tokenization and AI training, promising innovative applications in decentralized storage.