Filecoin main network will be upgraded to V18 on March 14

It is reported that Filecoin Lotus v1.20.0 has been released. The Filecoin network will be upgraded to V18 (Hygge Network Upgrade). This network upgrade is mandatory. The core of the upgrade is the introduction of Milestone 2.1 of Filecoin Virtual Machine (FVM), which will make it possible to deploy EVM-compatible smart contracts on the Filecoin network. This upgrade will provide users with programmability for the first time for the Filecoin network.

Interpretation of this information:

The Filecoin Lotus v1.20.0 release announces a major upgrade to the blockchain network with the introduction of Milestone 2.1 of the Filecoin Virtual Machine (FVM). The upgrade is mandatory and aims to bring programmability to the network for the first time through the deployment of EVM-compatible smart contracts.

This upgrade is a significant milestone since it opens up new opportunities for developers to build decentralized applications and services on the Filecoin network, enabling them to access the power, security, and storage capacity of the Filecoin blockchain system. The new upgrade seamlessly integrates smart contract capabilities into the blockchain technology, accelerating the adoption of Filecoin by developers worldwide.

The introduction of smart contracts on the blockchain network means that developers can program their applications to perform specific tasks automatically without intervention, enhancing the flexibility and efficiency of the blockchain system. Smart contracts also facilitate trustworthy transactions between parties, without intermediaries, thereby lowering transaction costs significantly.

The Filecoin network upgrade to V18 (Hygge Network Upgrade) is mandatory, and users are advised to upgrade their software as soon as possible to ensure they continue to benefit from the latest network features.

In conclusion, the release of Filecoin Lotus v1.20.0 marks a significant development for the Filecoin network, introducing programmability and smart contract capabilities, which will enhance the capabilities of the blockchain and accelerate its adoption by developers worldwide.

Three keywords for this article are:

1. Filecoin: A blockchain network that provides decentralized storage solutions.
2. Smart Contracts: Self-executing contracts that run on the blockchain network, ensuring trustworthiness and automating certain tasks.
3. Programmability: The ability to create software programs that enable the automation of tasks and the execution of smart contracts on the blockchain network.