Filecoin announced on X that its Onchain Cloud is now live on mainnet. The new service is designed to provide developers with a programmable storage and payment layer.
However, despite the launch, Filecoin tokens are trading at $0.83, close to the all-time low of $0.81 hit last month.
Filecoin On-Chain Cloud Built for AI Agents and Autonomous Systems
AI agents are a new class of cloud users with autonomous systems that need to store, retrieve, and pay for data without relying on humans. Filecoin Onchain Cloud is built for AI agents. It acts as a programmable storage and payment layer.
According to the announcement, over 100 teams have started building AI agents, dApps, workflows, and tools for indexing datasets. The team joined Filecoin Onchain Cloud when it joined the testnet last November. According to mainnet data, 49.41 Tebibytes are stored in 478 active datasets, with 81 payer wallets linked on-chain through Filecoin Pay.
The mainnet launch introduced new updates including two-copy replication, an updated Synapse SDK, and a production-grade storage provider.
The two-copy replication feature means that all uploads using the Synapse SDK are sent to two independent storage providers. The first provider stores the data, and the second provider retrieves the data directly from the first provider without utilizing any additional bandwidth. Each copy generates its own on-chain proof. If one provider fails, the system automatically replaces it.
Synapse SDK uses viem instead of Ethers to improve TypeScript support and speed. Uploads are automatically mirrored between providers without impacting performance.
Production-grade storage providers are onboarded, tested, and approved for mainnet. Certain performance criteria must be met, including a storage success rate of 95% or greater, a PDP failure rate of less than 1%, and a retrieval success rate of 95% or greater. If a provider does not meet these thresholds, it will be removed from the network.
A Proof of Data Possession (PDP) explorer is now available for anyone to view certification status, provider performance, and failure history.
file coin $FIL Token tank up to $0.83
Despite the positive news, Filecoin’s native token $FILwe saw a significant drop in prices. It is currently trading at $0.83, close to the all-time low of $0.81 hit last month.
$FIL It decreased by 4% in the last 24 hours, 8% in the last week, and 22.2% in the 30 days. CoinGecko data shows that $FIL has lost 99.6% of its value from its all-time high of $236.84 in April 2021.
$FIL It maintains its position among the top 100 cryptocurrencies. The decentralized storage coin ranks 83rd in terms of market capitalization, with a market capitalization of $638,926,958 million.
Filecoin is also facing a decline in terms of Total Value Locked (TVL). According to DeFiLlama data, Filecoin TVL has fallen by 9.88% in the past 24 hours. The current value is $6.31 million. decrease in $FILprice and TVL suggest that the market is not reacting positively to on-chain cloud launches.
The fee collected by the network is only $1,950 for 24 hours. Filecoin has struggled to maintain profits. The amount of stablecoins in circulation on the Filecoin network is very small, approximately $153,629. The complete supply of stablecoins will be in the form of USDFC.
