Force Web3| Abstract Of Juan Benet’s Filecoin AMA
Filecoin, a distributed storage infrastructure, has been on the road to becoming a distributed network for storing the most critical information in human society since its launch. Founder Juan Benet talked about the next phase of Filecoin’s development in various ways at last week’s AMA. The author sorted out four critical points in 1hour and 39 minutes regarding storage Providers, Ecosystem growth, FVM, NFT, and Metaverse.
About Storage Providers
Capacity & Growth
Juan proudly shows that they had been amazed by the network to reach the device’s capacity of 16.25EIB in the past one and half years, which is unprecedented compared to any network. It is a vast and remarkable achievement that it is a super-fast build from zero to massive scale, even competing with centralized cloud providers. The filecoin network coverage has expanded from North America and Southeast Asia to South America and Africa. Furthermore, although a macro policy shift on a large scale in China and other places, SPs worldwide are picking up pace and compounding growth, avoiding a significant decline in the onboarding rate in 2021 Q3.
Accelerator
In terms of Accelerator, to let more Storage Providers(SPs) efficiently attend the Filecoin networks, Juan believes there is much know-how involved that you should master in advance to enter the web successfully. They put many professionals who sell hardware, service providers, investors, and lenders into a community to let members learn from the best person in a particular area. More related ESPA tutorials are available on YouTube to help users enter this Accelerator or similar one smoothly. If you are a New SP, attend ESPA to get more professional information. For businesses, bring your services to SPs through ESPA and similar.
Recommendations
Some recommendations mentioned in AMA regarding features include I/O (Input and output) functionality with excellent data onboarding and retrieval speeds. Besides, you can accommodate a considerable number of SPs. Their goal is 10Gbps +DC links or better (ideally 100 Gbps). Also, it can provide extensive offline data onboarding. On the other hand, Businesses should focus on their stability and growth during a downturn to ensure survival. Keep going and make sure you are always well positioned, and the downturn period is a great time to grow.
IPFS Gateway continues to be the primary way to access content on Filecoin, so developers have a chance to build a Retrieval providers(RP) network that beats gateway performance and has an opportunity for SPs to make their content available via indexers.
Ecological progress
Juan Said that Filecoin continues to push the ecosystem forward, they have 600+TiB clients per day and 100+ valid data stored in the filecoin network, which means more opportunities for SPs. Now many top research institutions also choose Filecoin to store data. It can solve some common problems.
In the case of Slingshot, Juan explained that they have had a lot of success with Filecoin with many efficient data storage. In Filecoin, you will get a lot of functionality. One of the things that they’ve been most successful with is the huge amount of storage that they’ve provided to our customers and have also used it in NFT and had great success with this project.
Upcoming projects
Filecoinplus
On-ramp missing: Video
The highlight of Filecoinplus is it enables the network to accommodate Video, which will be an ample opportunity for the client to create and backup videos in the filecoin network. Also, filecoinplus will be able to solve all the hard challenges to that when comes to onboarding video to the network and then providing really fast delivery of the video and another kind of post-processing, so it will be super valuable. It is also great for people building products or an on-ramp dedicated to onboarding large archives will be super useful and this might mean leaning into specific product requirements that those archives require to need in terms of encryption or access controls and licensing and so on.
On-ramp missing: Dev Assets
Another he mentions is one dedicated to developer assets, which makes it dramatically easier to use filecoin to store package manager registries, container registries or VM, etc. Therefore, more and more developers will come into the ecosystem and build applications on the filecoin network.
FVM— a WASM + IPLD runtime
Filecoin’s virtual machine is an essential foundation to do large-scale chain scaling, the FVM projects are advancing fast, and there are tons of improvements happening. The FVM of Filecoin will be landing in the next few weeks, which means that the new Gas model that will get activated with this milestone will change, and developers will be able to undertake projects through Fvm. According to Juan, It is also an excellent opportunity to develop new applications, and they will implement More features slowly next stage.
Juan said that the most exciting thing is to see that FVM can compute over data once they land, which means being able to kind of Schedulers and systems filecoin to support computational networks when you think about a source provider and their facilities and storage. So on, it is perfect to be able to run computational cloud then or around all the data they are storing.
From his perspective: “There will be many different computational networks because of the different feature requirements that people have regarding privacy and verifiability yield. So different cryptographic approaches, so you end up with very different protocol schemes with different security properties and computational complexity and hardware; those requirements will yield different decentralized computation networks. In short, Filecoin (L1)will be an ideal home for decentralized computation networks(L2).”
New kind of NFTs w/Filecoin & Building the (open) Metaverse
Most NFT platforms use the Filecoin network, with a backup service of storing 6.5 million NFT by 37,000 users and 175 TB NFT by IPFS CID. High-quality vision effect NFT based on Video or 3D was emphasized by Juan that will become mainstream shortly. He kindly mentioned that you would play games and do social inside Metaverse. You will see the shifts mentioned above after six months or a year.
Upcoming events
They are doing things like trying to link everyone in the ecosystem and help people get the resources they want. The upcoming Filecoin events will be the perfect place for eco-networking.
HackFs
“HackFS is a virtual 21-day hackathon to create the foundation for the decentralized web. HackFS Build the foundation for the decentralized web. A Hackathon by ETHGlobal and Protocol Labs.”
FIL-Austin
FIL Austin is bringing the community together for workshops, panels, networking, and more dedicated to expanding the Filecoin network and growing the Web3 ecosystem. Registration is now closed. Please join the waitlist by clicking the waitlist button above or filling out the form on the website, be sure to scroll to complete the entire form and hit submit.
FIl-Singapore summit
FIL-Singapore Summit will take place from August 16 to 19, 2022, a four-day event with insightful talks from top-notch speakers, and panel discussions from the world’s foremost Filecoin ecological participants to Web3 co-builders. Our unmatched speaker’s lineup will dive into Filecoin and Web3, taking you through the Filecoin world of FVM, NFTs, the metaverse, and beyond to be a part of the Web3 wave.
Final Q&A
In the last part, Juan answered several questions from the audience based on his industry experience, mainly giving them some confidence in the downturn period.
Q: How do you see the adoption of web2 in 1995 as similar to the adoption of Web3?
Juan: That’s an excellent question. There are indeed many people who haven’t used Web3 yet. However, you’ll see tens of millions of people holding cryptocurrencies, many community members holding NFT, and tens of thousands of teams working on blockchain projects. The best thing we can do is improve the technology that Web3 smart contracts are still doing. Eventually, everyone can cross the chasm.
Q： How to survive in a bear market?
Juan: I have seen many up and down in the crypto world since I was 12 or 13 years old; we need to see a long-term development whenever we know a project. You will see that some projects can also achieve double growth of height, it is a perfect time to focus on their projects for many distracting elements are gone, and the team can concentrate on their task better. Besides, If there were teams that couldn’t survive, we thought it would be an excellent opportunity to invite them into our ecosystem to align with them. Changes will be speedy if you are an SP or a startup company. Fund-raising is also challenging, and my feeling is that encryption talent will continue at a high cost. Hence, it is a double threat. It can be complicated for a startup to accumulate many problems simultaneously.
Concluding thoughts
In short, the bear market will continue, this is no doubt an opportunity to reshuffle the deck for both builders and traders.
