Fantom (FTM): A Good Project To Invest?

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(Edited)

Blockchain technology has provided the world a pathway to maintain consensus across all nodes with no central authority and this technology has fundamental limitations related to a lack of real-time transaction settlement and scalability.
Since the launched of Bitcoin several developers worked on the whitepaper and the blockchain to see the possibility of how to tackle this limitation discovered and one of the project I will be looking at is Fantom application on advanced Directed Acyclic Graph (DAG) technology.

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Is Fantom A Coin or Token?

In August 2018, Fantom launched its token on Ethereum blockchain with the main focus of providing near-infinite scalability and instant transactions at nearly zero cost. The project team is also looking at a high-performance virtual machine with safe, secure smart contract execution, but the token was launched in the midst of the ICO 2018 issue and those committed to it, lost a lot of funds and this is general to crypto communities in 2018. This revealed that Fanthm was launched as a token since I all started on the Ethereum blockchain.

Fantom Progressive Move

FTM token is ERC-20 based used for staking and to reward Fantom witness nodes and progressively, the introduction of FTM BEP20 on Binance chain to increase interoperability by creating a multi-asset cross-chain ecosystem resulted in above 300% increase on FTM price action. Fantom in Q3/Q4 2019 its mainnet was launched and since then, development keeps on going to strengthen the ecosystem.

Is Fantom Good To Invest?

One of the most important considerations for me when it comes to the progress of a project is the amount of work that has been done on the protocol. Check out the Fantom GitHub with the list of projects already commits for their top 3 most active repos.
The decentralized finance area of the Fantom is interesting to check out.
According to the official website, Fantom offers the first DeFi stack built on an aBFT consensus with the following characteristics:

  1. More Faster
  2. More Cheaper
  3. More reliable and secure.

Further to this, with FTM you can to mint fUSD which gives you complete access to the DeFi tools. You can use fUSD to trade synthetic assets, or lend it to earn interest and borrow synthetic tokens.
On FTM DeFi, you can Mint (Stake), Trade (Swap), and Lend/Borrow... Check more about this

Where To Get Fantom?

Check out Fantom on coingecko or CMC there are listed exchanges like Binance, and Fanthom team discourages storing your FTM on exchanges due to the custodial risks and also missing out on staking rewards. With Fantom's wallet, there is an easy staking transaction. The Fantom Wallet is accessible on Progressive Web App for mobile and desktop. Check it out here

In conclusion, it takes personal research to determine if a project is suited to invest and most time, remember the slogan, buy the rumour, sell the news, check out the fundamental laying of the project, the progressive development, and the team around the project. The Fantom team appears to have the expertise, knowledge and drive to become more successful.

Reference

https://fantom.foundation/

Offical Links

https://twitter.com/FantomFDN
http://chat.fantom.network/
https://t.me/fantomfoundation
https://www.reddit.com/r/FantomFoundation/

Posted Using LeoFinance Beta



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