22/08/2021
PROJECT OF THE WEEK- Fantom (FTM)
What Is Fantom (FTM)?
Fantom is a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using its own bespoke consensus algorithm (Coinmarketcap, 2021).
Makes Fantom Unique?
Fantom uses a new scratch-built consensus mechanism to carryout DeFi and services alike on the basis of smart contracts.
This mechanism, Lachesis, provides higher capacity and two-second transaction finalization, and also improvements to security over traditional proof-of-stake (PoS) algorithm-based platforms with almost zero transaction fee.
Projects on Fantom Blockchain
Fantom Blockchain continues to attract new developers and users looking to take advantage of its low-cost environment.
Lots of protocols that previously operated on Ethereum have already crossed the bridge to benefit from the Fantom protocol including Curve (CRV), Ren (REN), and SushiSwap (SUSHI) (Yahoo.finance, 2021).
These cross it not limited to only DeFi protocols. Multiple projects from the other hot sector of 2021, non-fungible tokens, have now been deployed on the Fantom network including SuperFarm (SUPER) and Fantom Punks (Yahoo.finance, 2021).
NOTES
1. High ethereum (ETH) network fee and slow transaction time will always prompt developers to look for alternatives....
2. FTM is one of the few Blockchain that solves ETH problems at the moment.
3. FTM is just a 57 cents at the time of writing.
4. FTM has good Tokenomics.
5. Do your own research.
LINKS
Further research:
https://coinmarketcap.com/currencies/fantom/
https://www.coingecko.com/en/coins/fantom
Interested? Buy here:
CEX
https://accounts.binance.com/en/register?ref=G6U8KG5I
DEX
https://app.spiritswap.finance
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