Review on Fantom by Olugbenga Ajayi
Fantom is a project that is useful for many purposes
Fantom is a crypto project based on directed acrylic graph. It was founded to improve transaction speed, enhance scalability, improve throughput and foster better security.
The project is one project that fits many used cases. One area i know it will really gain traction is in the area of artificial intelligence known as smart cities and smart homes.
Fantom also has crosschain functionality. It has begun with ethereum already hence users on ethereum network can avoid congestion and high transaction cost by transfering their token to fantom network where they can enjoy speedy confirmation rate and near zero transaction cost. In the future, it is likely that it expands to other crypto projects.
The native token of fantom is FTM which is in two versions: bep2 and erc-20. It is traded on binance, kucoin and other major exchanges.
The token can be staked and also used for utility purposes.
Pros
- The project has a large community of followers and users on twitter and telegram
- it has high throughput and completes hundreds of thousands of transactions per seconds
- it supports crosschain transaction
- it can communicate accross multiple service providers
- The use case cut accross multiple areas of life like smart cities, smart home, healthcare and many more
- It supports creation of dapps
- it is open source
- It is traded on major exchanges like kucoin and binance
Cons
- The project is still new so a little can be said about its prospects
