📣 FEVM Summit — FVM Keynote

foreign [Applause] [Music] so with that I want to welcome our first amazing incredible speaker Molly on stage I'll ask Molly to turn on her camera and kick us off with this amazing event hi Molly how's it going good hi Karthik excited to be here excited to have you this is this is going to be exciting 400 people amazing well welcome everyone uh I know this is you know an exciting kickoff to um to the day and the weekend um and so pumped to share a little bit more about Falcon Virtual Machine what it is um what you can do with it I'm gonna share a lot of uh my my favorite ideas the things I'm most excited about people potentially building maybe maybe in this Summit actually so I'm really really excited to to share that with you but you have an awesome lineup for the rest of the day as well to dive into even more depth in how to get started I know we have some folks who are coming from the existing kind of fvm community we have other folks who are brand new to this um so I'll try and uh fit both audiences um but you'll be getting even more layers of depth from from other people kind of throughout the course of the day um so give me a second I'll share my screen and we'll get started all right anyone tell me if that looks terrible otherwise we're jumping into it um so for context my name is Molly I lead the pl engineering and research team at protocol Labs which is building the Falcon Virtual Machine so the core of all of the technology that then enables all of you amazing Builders to write your own amazing smart contracts or new layers of programmability and that's really what we're most excited for with fvm is bringing all of this on-chain programmability being able to act with filecoin actors or bring any existing uh you know defy or lending or other contract over to the falcoin network this has not been available in filecoin so there's lots of latent demand for people to be able to kind of access and and bring their own programs into filecoin there's a lot of opportunity as well to kind of use everything about Computing that we know and love to improve Falcon in all sorts of great ways um automating repetitive tasks making sure that when people are wanting to store data that they can do so persistently over time without having to get re-involved in the network to renew their deals after five years um and making sure that that as we we generate new contracts they're solving real problems for people um we sit in in falcoin world at this really exciting intersection um where people are both building um you know kind of core infrastructure tools but also combining them with the new really exciting kind of like blockchain Financial Primitives that exist out there and so this is you know I'll tell you a little bit more about some of the the areas that I'm most excited about um but but this is kind of like a whole new horizon of what's ever existed before and we're really excited for you to Trail Blaze um for others to follow and others to see you are the Lewis and Clarks of uh of going into this and we're really excited to uh to see what you uncover um this is a super big deal for us because there's now all of these new applications that can possibly exist and it enables developers like you uh to customize what the filecoin network can do for us but besides storage and retrieval there's all sorts of exciting things like data Dows liquid staking lending decentralized compute and a lot of other ones um being able to like replicate and repair deals over time nfts with you know built-in long-term persistent and verifiable storage just all sorts of exciting things become possible um and this is you know you you are becoming the Builders of what all of what filecoin can do for the world and we're really really excited to have you um and I want to dive into a couple of these more detail because some people are probably thinking like data Dows what's that what does that mean so maybe to explain a couple of the the potential things that become possible here um first um and most obviously is staking and Loans this is a super huge opportunity we we have not had a you know a set of available VM Primitives that allow people to build contracts like connecting our Falcon token holders with storage providers who are offering core Services into the filecoin network and so this can kind of you know bridge that Gap help token holders put their resources to work within the Falcon economy and similarly help those storage providers get access to Falcon liquidity so that they can make you know more and more storage deals to store useful data because in the Falcon Network that requires them to put up collateral so that the network can ensure that they're offering those Services really effectively and this is a really exciting option as well because those are testing their resources in a useful for all that an opportunity for share in there you know yield uh coming from from that allocation and so um that's super super exciting another really exciting thing that becomes possible with fbm is all of that information on how a storage provider has been behaving in the network in falcoin over time what has been their success rate in deals how much data have they stored how reliable are they as a participant in this network all of that information is available on chain and so you can actually generate reputation scores for these storage providers and use that on-chain data to Power Smart contracts that are making much smarter allocation decisions for how a loan should you know what what interest rate should be required what sort of collateral should be required from Storage providers all of those things you're informed with all of this Rich on-chain data to make really you know good decisions about how to allocate those resources and you can even do these you know of course as as like you know collectives and Dows and Mining pools and all sorts of really exciting things things um and so we're we're super excited about people who are you know building in this space and also building Primitives that others can build upon um as you as kartik mentioned there's lots of bounties specifically for people who who dive into this area um and uh super uh oh actually one other thing to to mention here that's a useful primitive to hold on to um there's a a way for storage providers to set the multi-sig of their um kind of like the wallet that we call it an owner address but it's the wallet in which they get Block rewards from the network which is separate from some of the other wallets they have for their workers who are doing work within the network and so that like um owner address can be a multi-cig which can then be shared between multiple different parties and that can you know increasingly secure um you know lender assets with other third parties to make sure that um you know the storage provider is kind of guaranteed to to behave correctly within that system um another area that's super exciting there's already a couple of groups that have started building in this space but still a lot more opportunity to push forward is around Perpetual storage deals we know that lots of people when when engaging with um you know blockchain search networks or even in hackathons like this they really want to just store data long term they want to write once and not have to worry about it um right now falcoin Network optimizes for about one and a half year storage deals which is already pretty long compared to something like AWS where you have a monthly bill you have to keep paying um but when we're thinking about you know long-term assets like all of the neutrino data that CERN has put on the Falcon Network or the internet archive which is storing data on the Falcon Network they kind of would really like you know 10 50 maybe even 100 Year terms for for the data that they're putting on and they'd be willing to put up a lot more collateral as kind of an endowment for making making those deals over the long term and we really you know Falcon as a network really wants to put users in control of how they're replicating and also you know the the longevity of the data they put in the network um and so a whole new plethora of applications can exist here that are building on top of filecoin's verifiable storage Primitives but offering all sorts of long-term deals Lighthouse is a good example that's already started um doing this this long-term storage uh and you know Auto renewing of deals and making sure that you can kind of store once but I think a lot more kind of like continued innovation in this space is super super welcome especially on groups that are taking different strategies around how to um kind of do long-term endowments and things like that um and you know there's also the core building blocks that make this even easier for other people to build around you know repair Bots that monitor a specific CID a specific Content ID for data and then automatically repair and make new deals with storage providers if they ever see the number of replicas drop or folks that are doing kind of data bounties where all you have to do is give it a CID and then anyone who stores that Cid in a deal in the network can unlock the Bounty um kind of locked up within that that contract these are you know super useful and super exciting and building on top of proofs of storage that allow you to verifiably check falcoin network does this for you automatically every 24 hours making sure that all of the data that's been stored in the I think we have over I think it's 250 maybe 280 at this point I I'm having a hard time keeping track but that's the number of petabytes of data that are stored in the falcoin network today and all of that is being verified and checked every single day to make sure that the exact data that users decide to store is being stored persistently and so this this gives you you know a lot of benefits and also solves kind of a critical user problem say for other web 3 networks for nft holders for archivists for anyone who wants to like hold around data for the long term and so really excited for people to push in this area and make sure that um you know Falcon's mission to make sure that we have a robust foundation for humanities information is is achieved next area is programmable storage tools um this is super exciting and there's a couple of groups who have been pushing in this area um but the example here is the on chain dot storage solution so you can go and look up that website and see see what they've been building but these are things like multi-protocol storage retrieval Assurance contracts where you could for example put up a um uh a you know amount of collateral when a storage provider makes a deal guaranteeing that they are going to serve retrieval requests for that deal over time which then allows you to um you know have have very high even in this you know fully decentralized distributed Network have have a guarantee and a pot of collateral that you can slash it and and remove resources from if that storage provider ever doesn't behave correctly to actually go ahead and start making those um those like reliable retrieval requests you can do data bounties now with filecoin and a ton of other things and so we're really excited for people to program directly in with Falcon's actors to start making these things possible there's also all sorts of interesting things in the the kind of like Financial D5 space so you know because the fvm is designed to be fully evm um compatible the the fvm design is actually a hypervisor so we are running literally an entire evm in in the falcoin network you can bring erc20 tokens directly into the sefum network here and you can Bridge those to token pools and other chains you can write L2 networks that are plugging into filecoin to benefit from Storage power or security there's all sorts of things that are super common in the ethereum ecosystem which you can you know use those exact same bones and and connect that over here to the fem Network and so hopefully you know there's a lot of evm compatible chains out there this makes um writing smart contracts that move between chains or kind of have intersections much much easier because you can write exactly in the languages you're familiar with and the same contract work in in both places another Super exciting area for Falcon which is you know Falcon is this large distributed storage Network and maybe one of the things that people are excited about is decentralized access controls um you know we we definitely know about the centralized model of the world but how do you do this when you have many parties who are all collaboratively adding data to a a kind of pool of data together um things like Medusa which is a threshold encryption Network where you have a whole group of parties and they have to all kind of uh cryptographically agree before say access to a piece of data is um is unlocked that's a way of just in a decentralized way governing access programmatically for who can access some sort of data collection without even those parties needing to be able to see the um the thing that they're governing access to itself and so um you know this is one of those you split up many different uh cards of a key and then if you combine together X many shards you actually you know unlock a key and all of those shards only get sent to the the person who's requesting and has proved that they deserve access um to that next chunk of data so this is super exciting and groups that make use of that can then do all sorts of exciting stuff an example of that is data Dows and so this might be the thing where you're like what is this I'm I I've heard of dows maybe but what are data Dows and I don't think this has been possible ever before in any other blockchain network so this is a super exciting new area for folks to be building in um and the the idea here the concept is you have some decentralized group of people maybe this is you know all of the editors of a Wikipedia page or maybe this is you know all of the people who are collectively adding um new works to some kind of like uh archival you know guten Berg Library thing and so collectively they gather use and curate useful data into a collection um together maybe they um they govern and and persist that data over time so that's involves pooling some resources to make sure that that data stays available collectively across their group but then they can also do really interesting things where they have kind of this Collective Dao structure where they can govern that data set govern what data gets added govern its long-term persistence but also govern its access controls where you can potentially pay into that multi-sig in order to then get access to kind of the next chunk of data so that's super super exciting and then you know great you have that that shared treasury of all of the data that you're earning and you get to like hop into um you know using that for the long-term preservation and growth or for incentivizing you know even better data to be added to this system um so we're super excited about that um you know this whole cycle can very much be be automated by smart contracts to actually uh kind of like hone at the the growth and monetization of data collections as well um you know the the maybe last but not least one of the really really exciting things is actually being able to do compute over this Falcon data that's step three of our Falcon master plan which starts by building the world's largest storage Network um which we have already you know achieved by far the largest centralized storage Network um onboarding and safeguarding Humanities data which is work in progress as we mentioned something like 280 plus petabytes of useful data and then bringing compute to that data and enabling all sorts of exciting applications and this is a super exciting area to unlock um you know now this is one of the most valuable collections of Open Source data we have kind of like an amazing set of data sets already stored on Falcon that are already available and accessible here there's landsat there's all you know I don't even know 100 million nfts the million song data set uh Flickr Commons internet archives so there's a lot of useful data sets that are already be stored on Falcon and many more that are coming and so this is a really awesome opportunity for compute networks that want to kind of like interact or or compute over these large-scale pieces of data and where you want to send the compute to the data itself instead of having the kind of like retrieval and bandwidth requirements of fetching all that data and centralizing it um and so this this is already a really exciting area in web3 where you have um multiple other chains storing the chain history of their blockchains in filecoin obviously filecoin is a decentralized verifiable storage layer that fits really well with what other blockchain needs for long-term storage and so I know Solana for example is already storing um and backing up their chain state to filecoin which is really exciting but a great opportunity for more other blockchains to to do similarly and and find ways to to do this um kind of like more scalably and in ways that make that chain State accessible to other blockchains so you can use filecoin as a data availability layer as well which is a huge need for for especially Layer Two blockchains with um you know validator size requirements right now um we also expect that many layer 2 compute networks are going to optimize for different parts some are going to maybe be very privacy focused some very verifiability focused some really focused on performance and this is using all sorts of kind of exciting new tools zkps um fully homomorphic encryption all sorts of things like that to help power things like machine learning pipelines and other things that are interacting with data stored in filecoin and we want to use this really to help power the entire DSi movement especially around large-scale data science where scientists can better collaborate you know using data Dows on shared data sets they can publish those and earn rewards for you know valuably processing this data and making it more and more useful for different groups and just in general accelerate this whole data analytics industry which is uh you know a huge a huge huge community and a lot of value to be created there for the entire world um and so one of the things we're working on really in support of all of this is making sure that we're we're scaling the Falcon chain as well hopefully all of the amazing smart contracts that you hear are are creating um are going to add a lot of um kind of like additional activity to the filecoin network um and we have a next-gen scalability solution called interplanetary consensus which is actually launching their test net in like a couple of weeks um but that's uh aimed to to come in uh kind of post fem launch which will then uh kind of enable seamless transferring of state and just scaling the Falcon chain massively um so really all of these things together help us build a scalable blockchain that really helps unlock um kind of like web scale applications um hopefully the next uh set of dapps that need large scale storage fast processing um and you know also computation over that storage um we'll see a great great home uh in Falcon and the tools you guys are building um and so quick quick rundown I know I'm probably at time and should hop but about how fem has been designed to kind of unlock some of these really really exciting use cases um fvm is seen as a hypervisor and this allows us to plug in multiple second layer VMS on top of kind of this uh virtual hypervisor layer and so what this looks like is that you can have both Falcon's built-in actors but you can also have you know entire other VMS things like the kind of like evm which is the first one that we have brought in creating fevm but also additional entire networks as well you could add say the agoric VM or you could add the cosmos VM and get access to IBC and that's a really exciting direction that we think um uh this whole this whole area is going to gonna move right now we've really focused on bringing evm on top of fvm but the the Milestone after that is focusing on kind of native wasm actors that are going to be running in bare metal fem mode um which can give you even more access to kind of the the core functioning of the system um so here's our quick roadmap um this is where we are today on East Global um as you as you can see from my background um we've already had a ton of Milestones related to building the fvm um the first one was in February of 2022 fem is actually already powering the falcoin network we launched fem into Falcon mainnet in July 2022 but we have not yet enabled that programmability layer or brought all of the amazing Tools around evm into Falcon yet and that is what is coming in our February release Here for Milestone 2.1 and so we already have our testnet up which many of you guys are going to be working with later today we're doing amazing hackathon songs like this one and really this is helping us build kind of like all of that great momentum into our main net launch date um and then coming after that we have additional releases um m2.2 and M3 which are adding both access to those you know um you know bare metal wasm actors but also deeper protocol improvements that are going to unlock additional parts of fbm um we've been running an fbm early Builders program for the past you know number of months with this amazing group of participants um and I think we have over 100 people that have participated and they've created all sorts of useful tools for you to learn from build on top of um and synthesize into your applications and so there's an awesome fvm actor playground which is an amazing place to get started go check out this video from Jim pick there's um assembly script rust and Tiny go sdks and there's a lot of reusable components in here that you can you know build on top of in your hacks you know you only have a weekend so we want to make you super productive um and there they've also started building kind of early contracts in a number of areas um some of the groups thinking about nfts Perpetual storage liquid staking data Dows and so likely have some some early things for you too harness learn from iterate on collaborate with um really really exciting thing there but we also have a lot of new open opportunities that no one's dived deeply into yet that are super super exciting around cross chain bridging or thinking about data discoverability or cross chain liquidity or all sorts of other really really exciting things and so we're we're pumped for people to to dive into those areas as well when it comes to resources definitely check out the fem developer Forum there's a lot of great questions documentation answers in here there's some great blog posts already for how to deploy your first smart contract to fvm and definitely all of the videos from The fbm Foundry program are a great place to to learn more but you are going to be meeting a lot of these wonderful humans this is the um the team that's building kind of the the core layer of the fem um you're going to be hearing from Sarah in just a second but all of these faces are going to be uh popping in and out of these sessions and there to help you and and help you find amazing opportunity communities and we're really excited to see what you build feel free to if you want you know to gut check your idea you can message me on Twitter I'm omak28 or if you're in the the Falcon slack um I'm momak maybe just momak 2 there and feel free to get in touch I'm super excited to hear what you're building and give you any advice that might be useful awesome thanks a lot Molly this is uh this is incredible this was a whole uh massive overview that I got a lot of people excited and thanks for clarifying with David Bowser those are the most common question we got and this uh this is a good overview