FreeTon; Many may have most probably never really heard of this Blockchain but it's one that has amazed me beyond all reasonable doubt. I will explain in concise terms why!
First off, Free Ton Blockchain was created as a community response to the high amount paid as fees on other popular smart contract platforms which was pillaging off profits or making interaction with a decentralised application expensive. I can see that the project emanated from Europe as it's community composes mostly of Russians, French and English speaking Individuals but the scope of the project has gone beyond to also affect Asia as they boast of a Chinese community.
As I looked through the Project, I can agree to the attested point which says the project is mostly in the hands of the community looking at the way things are handled from decision making to implementation.
With the native coin being Crystal coming with benefits of low fees, here is my research into the project
FreeTon as a Smart Contract enabled Chain:
Answers that arise from questions asked about speed latency and cost when placed into consideration should make you leave any other Blockchain you are on to migrate over to FreeTon. Here's why;
The block time of FreeTon Blockchain is just 0.2 Seconds, this is quite fast. The fees are also very negligible, costing below a cent in most cases especially for Crystal transactions between wallets.
For use in creating smart contracts, interestingly to how FreeTon speaks of being a community enabled Chain, they have made available resources that will help a complete Non-Developer to create his/her first smart contract or decentralised app. This is achieved by:
1. The use of Debots: This is by far the best part that comes with creating or writing a smart contract on FreeTon. Debot is used in creating smart contracts through a simple dialogue via a secured chat interface. This makes it possible for anyone with an idea of what's needed to be created, brought to life on the FreeTon Blockchain.
2. The use of popular programming languages like Solidity, C++ and C makes it easier for Developers from other Blockchains to come and find easy root in developing their smart contract on FreeTon.
3. GitHub and Docs which contains a huge list of instructional material to guide with when writing a smart contract.
With all these in place, one will agree that FreeTon has simplified the whole process of entering for a developer from a different blockchain to begin work on his/her project on The FreeTon Blockchain.
FreeTon Wallets and it's DeFi protocols
Crystals or TON can be held on different wallets for Mobile devices and Chrome extensions for PCs. Popular wallets are yet to support the Blockchain.
Despite the much added benefits that comes from FreeTon, there are no proliferation of DeFi protocols on the Blockchain. Currently, the only supported staking pool I have found laying around is the Depool which apparently is a Pool for the community to stake their Crystals to Validators and get a share of the fees. And as expected, the APR is quite low, averaging around 6% Yearly from an ROI of over 12% last year.
Am still interested in seeing Protocols being built on this cheap blockchain as it will help mitigate the fees I pay off my profits on other chains.
The Crystal or TON Coin
FreeTon is still quite early in the space, being online for just over 1 Year, though it's Investors has received the brunt of the dump bringing price down by over 50%.
Just as an Author noted, the Bull run of this year didn't really put an effect on the Crystal price and I can push the blame to the huge fact that FreeTon lacks popularity.
Crystal has over 5 Billion coins in circulation already and a price of $0.34 which is surely poised to go up once developers begin to see the potential in the Blockchain and begin developing on it; requiring Crystal for fees to interact with the Chain making it needful.
I am no Financial advisor but my interest in this coin is as a result of its use in the chain.
Surprisingly, NFTs are supported to be created on FreeTon, that is to say, they are not keeping off the trend. The Ton Swap DEX which keeps receiving regular updated to improvement shows that many are still in the business of developing FreeTon.
Though listed on a few centralised exchanges, I hope to see Crystal on Top Tier exchanges soon to come.
I intend to even have my first project on this blockchain considering the low fee, speed and ease that comes with launching a project on its Blockchain.
FreeTon is reaching out beyond Europe and Asia, encompassing into areas of Africa. Once they can establish their stronghold, I assure you, this project will be one of the most sought-after Smart contract enabled low fee chain.
Am looking forward to its success.Voir la critique complète