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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