In the crypto space, some digital currencies exist mainly as investments. On the other hand, some exist as utility tokens for digital economies.
Fantom is all about the dApps. It is an ecosystem of technologies and tools that support the aggregation of smart contracts into applications. The Fantom platform is optimized to run smart contracts quickly and inexpensively so dApps can reach their full potential.
Fantom has seen exponential growth during the 2021 bull run. But does it have potential going forward?
An Overview of the Fantom Ecosystem
Based on the claims of the Fantom Foundation, Fantom is a high-performance, scalable and secure smart-contract platform.
One of the components is that it is an open-source directed acyclic network compatible with the Ethereum Virtual Machine. As such, it can run existing smart contracts and create new contracts interacting with smart contracts on Ethereum.
Additionally, the validation of transactions on Fantom is by Lachesis, a leaderless Proof of Stake (PoS) system employing a custom asynchronous byzantine fault-tolerant consensus mechanism. The Fantom ecosystem can also handle 10,000 transactions per second (TPS), and the confirmation of these transactions happens in 1-2 seconds. Besides, the platform has a low transaction fee, so gas fees for a transaction can even be below $0.05.
There has been the deployment of 200+ dApps on the network, and its total value locked (TVL) stands at $460 million.
Technology and Runway
Fantom is a high-performance EVM-compatible smart contract platform. It is based on Lachesis, an innovative aBFT consensus. Lachesis enables Fantom to deliver fast transaction speeds with low gas fees.
As is with most L1s, its security is by Proof-of-Stake.
Furthermore, in bear markets, your interest should be in the financial stats of the projects you invest in. According to the foundation, Fantom has 30 years of runway. As such, it is fair to say that money should not be a problem for the Fantom Foundation.
The Project’s Roadmap
Especially in bear markets, you should be interested in the financial stats of the projects you're investing in. According to the article below, Fantom has 30 years of runway. Therefore, it is fair to say that money shouldn't be a problem for the Fantom Foundation.
The main features of FVM include the following;
Parallel Processing, which increases the network scalability.
Bytecode is compressed, showing the efficient storage of blockchain data.
Solidity compatibility means that dApps from EVM-compatible chains will still be able to migrate to Fantom.
Tokenomics
80% of the $FTM maximum supply is in circulation.
$FTM is mainly for paying gas fees and safeguarding the network.
There are a lot of yield farming opportunities in the ecosystem.
Fantom’s Future
Recently, Fantom Foundation came out with an interesting proposal. Currently, 20% of the gas fees are burnt forever. Based on the proposal, this will reduce from 20% to 5%. As such, the 15% reduction will be redirected to the dApps building on Fantom. If this passes, a massive number of people will be aiming to build on Fantom.
On the other hand, Fantom has an impressive community.
With the recent development of Gitcoin on Fantom and the FVM being under development, Fantom is well poised to remain a leading L1.
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