Tuesday, 27 February 2024

Crypto News

Filecoin completes Watermelon Upgrade (nv21) as investors flock to Memeinator’s presale

Filecoin completes Watermelon Upgrade (nv21) as investors flock to Memeinator's presale

  • Filecoin upgrades efficiency as the nv21 upgrade boosts commitment to 3.5 Years and introduces synthetic PoReps.
  • Memeinator’s presale gains traction as it teams up with Virgin Galactic for a $250k space flight.
  • Crypto enthusiasts anticipate Filecoin’s future and Memeinator’s unfolding journey.

Filecoin has announced the completion of its Watermelon Upgrade (nv21), introducing pivotal changes to enhance the network’s capabilities.

Meanwhile, Memeinator, a rising meme coin, captures attention with its presale and an exciting $250k space flight opportunity in collaboration with Virgin Galactic. Let’s delve into the specifics of these groundbreaking updates.

Filecoin’s Watermelon Upgrade (nv21)

Filecoin’s successful implementation of its Watermelon Upgrade (nv21) signifies a leap forward in Filecoin’s protocol and functionality.

One of the major overhauls includes a significant increase in the maximum sector commitment from 1.5 years to 3.5 years. This strategic move aims to encourage storage providers (SPs) to commit to longer terms, fostering improved storage capabilities and potentially boosting demand. Before this upgrade, SPs were limited to a 1.5-year commitment, hindering long-term investments despite substantial demand.

Additionally, the implementation of Synthetic PoReps, or proof-of-replication, streamlines the data storage process. The upgrade reduces the size of temporarily stored data from 400 GiB to 25 GiB without compromising protocol security. This optimization allows Filecoin to achieve an extra 25% sealing throughput, ultimately leading to cost savings in sealing Capacity Commitment (CC) sectors.

Filecoin future outlook

Despite Filecoin (FIL) trading at $4.76 with a recent 6.35% 7-day loss, traders are optimistic. 

The newly introduced upgrade is anticipated to positively impact Filecoin’s market standing, bringing about increased efficiency, security, and cost-effectiveness.

Memeinator’s presale and Virgin Galactic space…

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