Filecoin has had two significant announcements this year. The first was the launch of Filecoin Virtual Machine (FVM).
FVM is composed of a combination of smart contracts and verifiable storage. This means that developers can now create dApps that leverage the technology provided by Filecoin.
Filecoin FVM is now being used by Sushi, Brave, Ocean Protocol, and Spheron, among others. However, the biggest risk to the network is that it faces significant competition in the industry, including players such as Ethereum and Stacks.
The latest news from Filecoin is that developers are now focusing on disrupting Amazon AWS and Microsoft Azure. This happened with the launch of Filecoin Web Services, which is a set of computing technologies built on top of the Filecoin Network.
Therefore, the difference between Filecoin Web Services and AWS and Azure is that it leverages decentralized technologies. Centralized entities use their own massive data centers located all over the world.
As for the prediction of Filecoin's price, the daily chart shows that the FIL price has had a bearish trend in recent days. It has moved below the important support level of $6.60, the highest point in November of last year. It has moved below the 25 and 50-day moving averages, while the Awesome Oscillator has moved below the neutral point.
Filecoin FVM, dApps, decentralized technologies, Filecoin Web Services, AWS, Azure, FIL price prediction.
Filecoin's Price Prediction as it Advances to Challenge AWS and Azure
Anticipating Filecoin's Price as it Competes with AWS and Azure
Predicting Filecoin's Price Trajectory Amidst its Challenge to AWS and Azure
Analyzing Filecoin's Price Movement as it Takes on AWS and Azure
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