What is Filecoin (FIL)?
Filecoin (FIL) is a decentralized data storage protocol powered by blockchain technology. It is designed to provide users with secure and reliable data storage solutions. Filecoin was founded by Protocol Labs, a blockchain startup based in the United States.
Filecoin works by providing its native token FIL to storage providers in order to create a decentralized storage system.
What is the Filecoin Virtual Machine (FVM)?
The Filecoin Virtual Machine (FVM) is a powerful tool that will allow developers to create and deploy applications on the Filecoin blockchain.
The FVM will also facilitate the development of smart contracts, which are digital contracts that are stored and executed on the blockchain. Smart contracts are essential for the development of decentralized applications (DApps). This would turn the Filecoin network into a fully-fledged Layer-1 blockchain solution.
The Potential Impact of the FVM on the Price of Filecoin (FIL)
The launch of the FVM will have a significant impact on the price of Filecoin. The FVM release will open up a new level of development on the blockchain, allowing developers to create and deploy applications quickly and easily.
This will create a double use case for the Filecoin network, allowing DApps to function alongside the storage system already present.
Filecoin Price Predictions
The launch of the FVM is expected to have a positive impact on the price of FIL. Several prominent industry experts have predicted that the Filecoin (FIL) price could reach as high as $200 in the next two years.
This is an ambitious prediction, but it is not out of the realm of possibility. The demand for data storage solutions is only going to increase in the coming years, and Filecoin is well-positioned to capitalize on this trend.
Is Filecoin The Best Investment Option?
Although it is proven that the demand for storage is increasing exponentially, the cost of this storage is decreasing as the technology reaches extreme maturity. Many cloud solutions already exist, and some large corporations may not want the risk of their data being spread across devices worldwide in a decentralized system.
This begs the question, what would have a better narrative or likelihood of outperforming FIL?
AI is the Future
One trend already fully identified is the integration of artificial intelligence systems into everyday work and life.
Many of these stocks and crypto that are related to AI have already made significant moves upward in price as people look to front-run the market shift. Catching a new technology before others will likely provide great returns in the near future.
One such new project identified is Avorak, which is beginning its ICO imminently.
Combining multiple AI products into a single package will mean the market exposure will be significantly higher than single-purpose AI systems, with a much wider potential customer base.
In addition, with the revenue system returning nearly half of the total revenue generated to those holding AVRK, this is comparable to passive income but on top of deflationary tokenomics due to a continuous 2% burn being in place. Overall, the outlook is very positive for Avorak and it will likely outperform Filecoin by a large margin.
Want to learn more about Avorak AI?
Website: https://avorak.ai
Whitepaper: https://avorak-labs-and-technology.gitbook.io/avorak-a.i-technical-whitepaper/
