Fantom (FTM) – Blockchain Formula 1 applied to smart contracts

Alternatives to the Ethereum network are currently scrambling to try to grab some market share. An intense and highly competitive race whose finish line is nothing but the effective execution of the much-anticipated V2 engine. An area in which the Fantom Project (FTM) has recently made significant progress. This is with the main advantages of speed offered as unrivaled and network cut specifically for smart contracts. In addition to a number of deals that recorded a very large increase since the beginning of last May. Does this make it the new blockchain to watch?

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It’s hard to navigate the crowd of projects jostling for this supposedly undigged grave for the Ethereum network in transition. all of this Regarding the difficulty he is having in the face of his growing success. And to its central role in the areas of DeFi, NFT tokens… and (almost) everything that is currently being developed in the cryptocurrency world. Which suggests that More efficient, it will not be able to manage all that these markets represent in terms of development potential. This is why so many alternatives to riding this trend have emerged.

And within that many, it is undeniable that the Fantom (FTM) project is currently enjoying great success. Especially considering that it was launched just over a year ago. This is by A team of experienced blockchain developers. The famous “DeFi architect” Andre Cronje is considered to be the origin of the Yearn Finance (YFI) protocol. All with the main goal of making A decentralized platform specifically designed to improve the development and security of smart contracts. These tools are at the heart of DeFi’s performance and at the root of Ethereum’s success.

Blockchain with ‘bank-level’ security

And in the field of blockchain, the Fantom project is not content with mere formal modifications. Because it’s actually an entire operational logic that’s been completely redesigned. It all relies on the more classic “no leader” Proof of Stake (PoS) principle. and an aBFT-type consensus that responds to the codename Lachesis. And The Opera mainnet that is fully compatible with Ethereum has been deployed. All on an open, “unlicensed” principle that allows anyone to run a node, as long as they have at least 3,175,000 FTMs banned.

Modularity makes Fantom exceptionally flexible. Developers can transfer Ethereum-based dApps to Fantom’s Opera mainnet in just a few minutes. This greatly improves performance while reducing costs.. – ghost

The goal of the Fantom project is to avoid having to contend with the “triple trio” that is imposed on all blockchains. What often boils down to Having to make a more or less effective choice between scalability, security, and decentralization. Which, in fact, amounts to preferring some at the expense of others. What the developers of the project explain to is the great security and strong decentralization of the Bitcoin network, at the expense of its adaptability (scalability).

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A fact the Fantom Project proposes to respond to By “giving each app its own blockchain.” This is so that “its performance and stability are not affected by the traffic or congestion of others.” And without having to sacrifice principles of decentralization and security in order to increase scalability.

Lightning Trading and Fantom Wallet

And it looks like the fans are there. In any case, this is evidenced by the graph of transactions recorded on this network. Because the latter has simply exploded since the beginning of May. That’s hitting nearly 830,000 during the last ATH reached on May 29.. The average appears to be around 200,000 transactions per day. Which is still far from the nearly 12 million Binance Smart Chain transactions recorded through ATH in mid-May. But progress is still very noticeable. Because it is much more than 1,700 transactions registered on the avalanche network at the time of writing (X-Chain + C-Chain).

Fantom (FTM) - Formula 1 of blockchain applied to smart contracts?

Transactions that don’t actually even require a second validation. This is for Fees that never amount to more than a few cents. But only if the transaction in question does not leave the Fantom Network.

Transactions made through the use of a Fantom wallet specifically designated for this network. And from It is also based on an innovative principle in the form of a Progressive Web Application (PWA). This means that all new features can be added to it automatically. This is without the need for consent. Which can be very practical, or obviously risky if the update in question relates to a corrupted version. But there is no indication that this could happen…

But apart from this peculiarity, The procedure for opening a wallet of this type is the same as any other procedure non-wallet wallet Dedicated to cryptocurrency. With a commemorative phrase to maintain security and the ability to restore an existing wallet.

An ecosystem looking for liquidity

Madness nevertheless requires finding true expression on the ground. Because For now, the ecosystem built on the Fantom Network remains completely “intimate”. But this can be explained in part by the youth of this project and the very recent acceleration of its adoption. Note Made by the developer community who likes it Finding attractive solutions to bring in more liquidity. The nerve of war in the field of decentralization projects. I originated the creation of the DEX SpiritSwap (SPIRIT) project a few weeks ago.

Fantom (FTM) - Formula 1 of blockchain applied to smart contracts?

A platform whose goal is to open the Fantom Network to Yield Farming. This is with the help of attractive rewards that it will bring to those digital farmers who love exciting investments. all with Returns (APR) are currently between 35% and over 190% According to the selected liquidity pools. This isn’t really anything exceptional and stays average for this type of cache.

In any case, the Fantom Project (FTM) continues to develop. All accompanied by regular updates and announcements that can be followed on your account Official Twitter. The latter is of importance with reference to oracles solution integration for chain link on his test network. The latter is available for developers to integrate into their DeFi applications. This will certainly make it possible to further improve its effectiveness and enhance its implementation.

  • Network name: phantom opera 2
  • New RPC URL: https://rpc.ftm.tools/
  • Channel ID: 250
  • Code : MTF
  • Block Explorer URL: https://ftmscan.com/

This article is about cryptocurrency news. It is not financial investment advice. Any position must be accompanied by personal research and requires cross-referencing before launch. Dior!

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