Review on Ferrum Network by Benaiah A. Akinlade
FERRUM NETWORK: Providing a central platform for DeFi with speed and low cost
Decentralized finance have come a long way in providing financial freedom and liberty for those who believe. As many people are tapping into the wealth associated with DeFi, there comes a cost that investors and even DeFi developers sweat over day and night. The problems associated with many people trooping in to DeFi are; financial cost (gas fee) and slow speed of completing transactions due to heavy traffic on the blockchains. The culprit of all these blockchains when it comes to high cost of gas fee is the Ethereum blockchain.
The only solution is a fast network that can interoperate and adapt to real life financial applications.
The Solution that Ferrum Network provides is being a DeFi Network that works across different blockchains and thereby eliminating the problem of adoptability. This enables exchanges between digital assets to be completed at a very insignificantly low network fees. For example, you can exchange your BTC for ETH P2P very fast at very low cost on the Ferrum Network.
Ferrum Network is a Directed Acyclic Graph-based protocol platform for the development and incorporation of centralized and decentralized applications
There are 4 applications on the Ferrum platform as follows:
1. The Ferrum “Over The Counter” Wallet
2. The Ferrum Decentralized Exchange
3. The Kudi Exchange, and
4. The Subzero Wallet.
Ferrum provides Staking Services to projects on websites and wallet staking platforms.
There is a dynamic staking mechanism for ERC-20 tokens which allows investors to lock their tokens and earn token profits.
Ferrum’s native token is FRM which allows investors to complete transactions in milliseconds for as low as 1 cent network fee. The FRM Token Price is currently 1 FRM to USD 0.016 and it trades in pairs with BTC, ETH, KRW, USDT, BNB, TUSD, USDC, PAX, WBTC, XBASE, USDK, LA, EUR, UQC, EBASE, RUB, WAVES, DOGE, and WETH. It is available for trading on Kudi Exchange, BitMax, Infinity DEX, Eterbase, Infinity Dex, and Binance DEX. The token can also be stored on Subzero Wallet and UniFyre. These apps are available for Android and iOS devices.
Ferrum Network provides you an easy and secure way of moving your assets between Ethereum, Binance blockchain and other blockchains
.
Pros
- It utilities a Link swap technology that removes the complexity of wallet addresses and allows you to complete transactions over any social media platform.
- Ferrum Network solves the challenges of Security, Interoperability, and Scalability on blockchains
- Gas fees are very low
- The token is supported on different exchanges
- It trades in pairs with a wide range of tokens
- You can stake your FRM token to earn profit
- The network incorporates with different exchanges
Cons
- FRM has a low trading value
- The FRM token can’t be mined
