Upgrades Improve Network Decentralization & Efficiency.
Browsing: Fantom (FTM)
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.
Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms, specifically transaction speed, which developers say they have reduced to less than 1 second.
The Fantom Foundation, which oversees the Fantom product offering, was originally created in 2018, with the launch of OPERA, Fantom’s mainnet, coming in December 2019.
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With this new initiative, Fantom has committed a total of 370 million FTM (in today’s value 300 million US dollars) to distribute to protocols developed on Fantom. The program applies to both new and existing projects on Fantom.
With the integration of RenVM bridge, Fantom’s already popular DeFi ecosystem can carry out instant exchange between many more major inter-chain crypto currencies.
The ability to quickly scale and utilize the network as a foundation for app development along with the affordable transaction rates has pushed Fantom to explode within the DeFi sphere.
The Ministry of Industry of New Technologies of Tajikistan has selected blockchain platform Fantom to build a blockchain-based economy.
This 3 million transactions milestone comes after Fantom’s recent successful network upgrade, which optimizes user experience through maximizing transaction speed and efficiency.