Generative Art Platform Fxhash Secures $5M in Seed Funding Round Led by 1kx
The Seed Round Fxhash, the groundbreaking generative art platform and marketplace, has successfully closed an oversubscribed $5 million seed fundraising round. Spearheading this investment initiative was 1kx, an early-stage crypto-focused venture capital firm renowned for its strategic ecosystem growth investments. Founded in 2021, Fxhash has emerged as the...
ONCHFS by fxhash: Pioneering On-Chain File Solutions for the Next Web Era
In a recent series of tweets, fxhash introduced a powerful new system called ONCHFS, the On-Chain for HTTP File System, marking an evolutionary step for the generative art space.
By: XTZ News
18 October 2023
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Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
In a recent series of tweets, fxhash introduced a powerful new system called ONCHFS, the On-Chain for HTTP File System, marking an evolutionary step for the generative art space.
According to fxhash’s announcements, ONCHFS is “a permissionless Unix-like content-addressable file system fully stored on-chain designed to be delivered through HTTP, with cross-blockchain compatibility in mind.” Initially available on Tezos, Ethereum support is also on the horizon.
Introducing ONCHFS, or on-chain for HTTP file system, a powerful new standard for generative art projects stored on the blockchain 🎨⛓️
Built to be an enduring backbone for an open gen art ecosystem, ONCHFS is available now on fxhash for Tezos, w/ Ethereum support coming 🔜 ⤵️ pic.twitter.com/mb0RVXciME
As per the main documentation from onchfs.com, ONCHFS takes inspiration from several systems and projects including ethfs, ipfs, bitcoin ordinals recursive inscriptions, and the Unix filesystem. The goal of ONCHFS is to provide a robust framework for working with files stored directly on the blockchain, adhering to modern standards and practices. Unlike IPFS which could be described as an on-chain reference that links to web2 database entry, Onchfs is fully on-chain.
No, that’s ipfs. Onchfs is fully on-chain, it’s a bit complex to explain end-to-end, https://t.co/azFGrW7pw0 if you want more details
FILE-OBJECTS: These are the main constructs that handle data.
CONTENT-STORE: Where the data chunks are housed.
HTTP-PROXY-RESOLVER: This resolves content viewing requests via HTTP.
USER: The end consumers who interact with the system.
APP-CONTRACT: This manages the application logic.
CREATORS: These are the entities that insert and manage content.
Motivations Behind ONCHFS
The genesis of ONCHFS was rooted in the need for a more efficient and artist-friendly system for generative art storage on the blockchain. fxhash originally leveraged IPFS for Tezos-based content storage. However, they identified challenges with the existing on-chain storage methodologies, especially for generative art projects.
Quoting directly from their announcement, “With ONCHFS, we’re taking a significant step forward toward fulfilling that mission.” This mission emphasizes fostering the most open and freely accessible tools for creating, collecting, and preserving generative art for current and future generations.
The motivations highlighted a few critical concerns with existing systems:
Interference with Artistic Practices: Artists had to navigate around predefined code structures, which could limit their creativity.
Interoperability Issues: While data was content-addressed, addressing by name introduced potential confusion and mistrust.
Security Concerns: Centralized systems could become targets for malicious attacks.
Specialization Limitations: It was challenging to extend the existing systems for diverse file-based applications.
ONCHFS addresses these concerns, albeit with the need for a file resolver like an http-proxy or service worker.
Core Properties of ONCHFS
Permissionless: Anyone can interact with the system, from writing data to referencing files.
On-chain: All data necessary for the system is stored on-chain.
Immutability: Once content is created, it remains unalterable.
Interoperability: The protocol’s design allows for diverse application uses without interference.
Content-Addressed: Data is identified by its hash in the Content Store.
Unix-like: Inspired by Unix-like file systems, ONCHFS provides a generic way to organize data.
HTTP-focused: Designed with modern browsers in mind, assets can easily reference and load other stored assets.
ONCHFS and Generative Art
ONCHFS was engineered with generative art’s specific needs in mind. It addresses the limitations of existing solutions by offering a cross-chain, content-addressed system. The idea is to provide artists with a platform where their work can exist on multiple blockchains, seamlessly integrating from one to another.
However, it’s crucial to note that ONCHFS does have its limitations. For instance, unlike other on-chain storage solutions, ONCHFS needs an HTTP proxy to display content. Despite this requirement, the fxhash team believes this to be an acceptable trade-off, given the system’s overarching benefits.
As the ONCHFS ecosystem develops, there will be initial challenges in integrating the system across platforms due to its novel approach. Yet, with smart contracts and updateable URIs, there are already workarounds in place to ease this transition.
ONCHFS is poised to make significant strides in the realm of on-chain generative art. By providing a robust, secure, and flexible system, artists and collectors can look forward to a more streamlined and enhanced experience. Only time will tell how this innovative system will shape the future of generative art on the blockchain.
In a recent series of tweets, fxhash introduced a powerful new system called ONCHFS, the On-Chain for HTTP File System, marking an evolutionary step for the generative art space.
The Seed Round Fxhash, the groundbreaking generative art platform and marketplace, has successfully closed an oversubscribed $5 million seed fundraising round. Spearheading this investment initiative was 1kx, an early-stage crypto-focused venture capital firm renowned for its strategic ecosystem growth investments. Founded in 2021, Fxhash has emerged as the…
ClubNFT have announced an integration partnership enabling all fxhash collectors to quickly download a backup of their NFTs.
Doing so ensures the protection and long-term safety of fxhash collections, no matter what the future holds.
In a recent series of tweets, fxhash introduced a powerful new system called ONCHFS, the On-Chain for HTTP File System, marking an evolutionary step for the generative art space.
ClubNFT have announced an integration partnership enabling all fxhash collectors to quickly download a backup of their NFTs.
Doing so ensures the protection and long-term safety of fxhash collections, no matter what the future holds.
ClubNFT allows you to download all of the IPFS data associated with all of your NFTs with the click of a button, with no app to download, and with no transactions to approve.
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
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