FANTOM(FTM):What’s Your Opinion On The Token & It’s Technology?
I must say I can’t turn blind eye to FTM anymore, through out this year, I have been seeing FTM everywhere but I kept on ignoring because. This is because crypto is filled with a lot of beautiful gems that most times you feel like spending all your money on most great coins you come in contact with. I got introduced to FTM(Fantom) early this year, but I wasn’t interested, because I was so focused on other coins. Last month @estherscott brought my attention to FTM again and I discarded the idea because I felt I already a lot on my portfolio. Today I decided to pay attention and do my research about FTM, because most times I like doing my research before investing on a project.
Talking about FTM it’s also a great gem trying to tackle the great trilemma of blockchain. Some blockchains are stuck between either being scalable or secured or being secured and decentralized. But Fantom focuses on being all three, focusing on being scalable, secured and decentralized. Which is cool, because bitcoin is only decentralized and secured, it’s not scalable. The fantom technology is try to surpass and be a better technological version of its predecessor technology like that of ethereum.
It’s technology works on a proof of stake basis giving it more advantage over Ethereum because Ethereum is currently utilizing a proof of work mechanism, which activity affects the environment. Fantom’s technology being decentralized makes it more transparent and more flexible because it lacks the influence of centralization.
Fantom claim to be much more decentralized than Ethereum since it’s using it as a scale of progress, it refer its self as a network of networks since it consist of networks of series of different decentralized computers. For more info
Because of the utilities of Fantom blockchain, the smart contract can be utilized for DEFIs and NFTs. Scalability allows it perform multiple transactions per second making transactions extremely fast compare to bitcoin and Ethereum. Remember that bitcoin wasn’t built to be scalable, rather it was built to be secured and decentralized but Fantom has all three characteristics.
The community behind fantom is great and they try so well in trying to promote the coin, FTM. The token can be used for a lot of things, you can stake the token because it uses the proof of stake mechanism, and you will get stake rewards. It’s also a governance token that gives holders the opportunity to make decisions by voting.
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I remember studying FTM when we wrote the Fantom guide. I found it very interesting back then, but I must admit I have stopped following it since then.
It might be a good time to give it another look. I remember it had an exciting underlying technology.
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Yeah, the technology is great, but am investing with caution.
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So you recommend investing in FTM?
😂 Not a financial advise my job here is to point out tokens I think are gems so you can do your own research and make your decision.
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Almost all this coins now accepting NFT. They made it in a way that, once you stake it, you get NFT
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Nice info. I will like to think the economy of ftm will perform very well in the long term, what will set ftm on a pinnacle is if a revolutionary application is created out of it. What do you think
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Absolutely for now, they are filled with promises of being outstanding, till they come up with something different.
I don't know how often people use FTM. It can be great if you have like 3-4 transactions that you need to make per day and move on with your life. Problems emerge when you use it a lot on a daily basis and experience the days when the chain is congested...
Oh boy. FTM can really suck when there is a lot of traffic going on but on normal days, it's a top 100 project for sure.
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