Summary
- Filecoin said it strengthened security and privacy features through the FEVM upgrade.
- This upgrade adds advanced cryptographic functions such as threshold signature and zero-knowledge proof, which is expected to expand potential uses in DeFi and distributed storage services.
- The media said this move could form the basis for a Filecoin price rebound, but that a recovery in investor demand and a shift to long-term holding sentiment must accompany it for a recovery to the 2022 peak to be possible.
Filecoin (FIL) has upgraded the Filecoin Ethereum Virtual Machine (FEVM), which is compatible with the Ethereum Virtual Machine (EVM), enhancing its security and privacy features.
On the 12th, according to crypto-focused media U.Today, this upgrade enables FEVM to support advanced cryptographic functions such as threshold signature (Threshold Signature) and zero-knowledge proof (zk-Proof). This is expected to improve developer-friendliness and expand potential use cases in decentralized finance (DeFi) and distributed storage services.
The outlet said, "There are expectations that this measure could form the basis for a rebound in Filecoin's price," but added, "However, a recovery in investor demand and a shift toward long-term holding sentiment must occur in tandem for a recovery to the 2022 peak to be possible."
Meanwhile, Filecoin is a project that implements a decentralized data storage system using blockchain-based distributed file system technology (InterPlanetary File System, IPFS).
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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