Fantom is listed among the blockchains that are supported by efficient technologies. Though it has been leading the crypto markets it is still going through some difficult phases. Fantom (FTM) is not much known in the world and ranks in 29th position according to market capitalization. But still, it is a very fascinating technology and an emerging network.
Fantom is a high opinion alternative coin and people have high expectations from Fantom (FTM). For trading of crypto assets like FTM, we recommend Cryptoengine exchange platform. To join and start trading on their app click here to register.
Reasons Why Fantom Is Leading Market
Fantom uses a system known as Lachesis. This system supports the development of multiple chains. The system, Lachesis utilizes Directed Acyclic Graph (DAG) which is based on an algorithm to accomplish asynchronous Byzantine fault tolerance (aBFT).
Below are some of the reasons why Fantom is leading the crypto markets.
By using the Proof of Stake (PoS) mechanism all blocks are created by validators. This mechanism is not transforming but what transforming is an aBFT protocol that permits the creation of all blocks autonomously.
Eventually, the Lachesis system allows for a much more proficient network that offers the completion of transactions in an average of just one second. Due to high speed, the network becomes safer and more secure. Theoretically, the blockchain has the capacity of 1/3 of the validators not performing well and will not suffer at all.
Another interesting point here is, because of the autonomous nature of the block present in the Fantom blockchain, it will not be wrong to say that Fantom is more decentralized. Every application present on Fantom performs on an independent blockchain and then all of those blockchains are attached to the Lachesis system. For example, if Ethereum is the decentralized computer then Fantom is just like an endless network of decentralized computers.
Last of all, when it comes to smart contract functionality, the main network of Fantom is accommodated by Opera. This platform supports all sorts of smart contracts that can execute with the Ethereum Virtual Machine (EVM). In simpler words, the blockchain of Fantom can interact with the blockchain of Ethereum easily.
2. Technical Outlook
Analysts have believed that Fantom is a good coin and in the future can have a higher price range. Fantom is now expected to enter the wave 3 rally and has already topped wave 1 at a cost of approximately $3.15. Since then, we all have seen A-B-C correction occurring. Wave B crossed the records established last November but that does not mean that this count is invalidated.
Ultimately, it’s time that we start looking at Fantom ruling the crypto market in the next race by $5-6. Though it is expected that we see a downfall of Fantom first before its proper rise.
Fantom is known as one of the highest dogma alternative coins. It possesses an outstanding technology and the technical perspective that supports increased prices. The correction of cryptocurrencies is not over thus far. Fantom is definitely one of the many exciting cryptocurrencies you should consider investing in or purchasing.
The Ecosystem of Fantom
A flood of applications has been developing on the platform of Fantom. The dawn of decentralized applications (dApps) assisted Ethereum in becoming a $300 billion asset today. The Fantom’s developers and founders gathered to its network and have added excitement and value to this crypto project.
Fantom is still in its infancy period. Various applications have been built on the platform of Fantom including Beethoven X, decentralized exchange SpookySwap and stablecoin platform Tomb Finance.
Is Fantom A Strong Competition For Solana and Ethereum?
The crypto asset Fantom (FTM) considers itself the biggest smart contract platform of the upcoming generation. One of the renowned analysts has even declared that the cryptocurrency Fantom would be more successful in the upcoming times than Solana or Ethereum.
Characteristics of Fantom (FTM)
Fantom has stolen the show since its launch it has become the talk of the town and people are showing great interest in it. Following are some of the significant characteristics of the Fantom crypto project.
- Supporter of all Smart Contracts
Fantom is speedy and has a high output and is an open-source smart contract network for all sorts of virtual assets and decentralized applications (dApps).
Fantom owns the potential of becoming the upcoming rising start in the world of cryptocurrencies, only if it continues to extricate itself with all smart cooperation and technological revolutions, none will be able to stop it from becoming a major player in the industry