Colin Evran, co-head of Filecoin development lab Protocol Labs, said at the FIL Singapore event on Monday that the number of storage providers on the Filecoin network is growing by 20 percent each month, with most of the activity taking place in North America, South Korea and Hong Kong.
About 7,000 new developers are currently building applications on the Filecoin blockchain, Evran said. According to Protocol Labs founder Juan Benet, about 20,000 individual users currently use Filecoin to store more than 50 million data objects, all of which are used to run DApps.
It is reported that the Filecoin Virtual Machine (FVM) is expected to be released in early 2023. Molly Mackinley, head of development at Protocol Labs, said a testnet will launch on November 28 this year.
Mackinley added that the Layer 2 prototype (or a single blockchain running on the main chain) is already in initial testing and will enable a more scalable Filecoin network after launch.