Because the starting of 2023, the value of FTM, Fantom’s native token, has risen greater than 180% to achieve $0.6, its highest degree since early Could. On the again of this triple-digit progress, Fantom has added greater than a billion in market capitalization and has established itself within the prime 50 largest crypto belongings, in line with CoinMarketCap.
Andre Cronje, a blockchain architect identified locally because the DeFi guru, determined to reveal the secrets and techniques of Fantom’s success and its strengths.
At the beginning, Cronje focuses on Fantom’s pace and effectivity. The quickest confirmations, lower than 9 seconds, and true finality, the place the displayed transaction is the final within the chain, lower out the necessity to “wait 10 blocks,” says the developer.
The second necessary pillar of his thesis is transaction charges. Fantom’s strategy to gasoline, on the one hand, permits good contract builders to simply monetize them, incomes 15% of every price when customers work together with the contract. Then again, within the close to future, Fantom will introduce gasoline subsidies the place customers don’t have to have a local token, FTM, to make transactions.
Third, Cronje factors to the lightness of Fantom, which lacks any community segmentation, comparable to L2 in Ethereum. As well as, says the blockchain architect, Fantom has full compatibility with the Solidity and Vyper programming languages, which will increase its interoperability and makes it simpler for third-party builders to adapt.
On prime of all this, Cronje recollects Fantom’s colossal fund that has allowed him to work with out trying again for 30 years, handing out grants and internet hosting hackathons. As reported by U.In the present day, this “security cushion” at the moment stands at $450 million.