Review on Ferrum Network by Fanuel PORPORTY
The Ferrum network is a new decentralized exchange and transaction network designed to solve the problems of interoperability and scalability of the blockchain.
Ferrum Network is a blockchain-based FinTech company bringing world-class financial applications to emerging markets, with products, users and network utility pre-public sale. Their advanced financial products run on top of a DAG-based interoperability network that connects to any blockchain and works natively with fiat currencies. It’s like the Lightning Network, but for every blockchain. The test-net is already interoperable with the Bitcoin network, Ethereum network and Ripple network.
The product line includes a fiat gateway for emerging markets ( Kudi Exchange ), and a non-custodial wallet ( UniFyre Wallet ) for risk-free OTC transactions of any digital asset, as well as other products to create an one-stop shop to buy, sell, exchange and store digital assets. All of Ferrum products and transactions run on top of Ferrum Network. Every time a transaction occurs, it requires a small amount of FRM be spent and burned. Therefore, when fully scaled, tens of thousands of FRM will be spent and burned daily.
Pros
- The Interoperability DEX is highly anticipated within the industry but will be difficult to develop.
- The fact that coins are burned after each transaction is extremely interesting considering the number of transactions.
- The team behind Ferrum is well diversified in terms of specialization and especially when it comes to their global position with some of their products creating a global solution, the Kudi exchange is solving a more local problem within West-Africa
Cons
- very little communication around the project
