Sunday, June 16, 2024
HomeAltcoinsFantom plans to address shortcomings of previous generations blockchain technology

Fantom plans to address shortcomings of previous generations blockchain technology

According to the host of the renowned cryptocurrency analysis and market commentary program, Coin Bureau, Ethereum rival Fantom ($FTM) has fundamentals that are still "extremely strong."

Fantom is a smart-contract platform that is fast, scalable, and secure. It is intended to address the shortcomings of previous generations of blockchain systems. Fantom is a permissionless, decentralised, open-source platform. Fantom’s unique aBFT consensus method, Lachesis, enables it to be quicker and cheaper than prior technologies while being exceptionally safe.

In a March 17 YouTube video, the Coin Bureau host went on to say that 

As I shoot this video, it’s down over 3x from its all-time high, and I see a horrible double-top pattern on the long-term price charts. Believe me, you don’t want to know what the goal is if that pattern breaks to the downside.

He stressed that before you worry, consider the fact that Fantom’s fundamentals remain “extremely strong.” For starters, all of the FTM allotted to the team and early investors vested in late 2020, and it’s likely that they’ve already sold a significant portion of that FTM. This is excellent since it implies there will be fewer FTM for them to sell in the future, resulting in less price suppression.

In regards to Fantom’s adoption, he stated that there are about 2.5 million distinct wallet addresses in Fantom. And the tendency does not appear to be slowing. An even more crucial on-chain statistic is the number of daily transactions, which has seen a slight dip but is still on a solid long-term upward trend.

Read more:

Vaishali Goel
Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.


Please enter your comment!
Please enter your name here

four × two =

- Advertisment -

Most Popular