Review on Ferrum Network by phuong cong
DEFI platform on DAG and ecosystem of Ferrum Network
Ferrum Network (FRM) is a decentralized network.
It built on the DAG network, it's faster, less expensive, and more scalable than conventional blockchains. Ferrum is agnostic, which means it can support content for all networks and is not limited to ERC-20 tokens.
Ferrum's decentralized ecosystem includes DEX exchange, payment app, and storage wallet.
The FRM token is used for direct payment for transactions that take place in the Ferrum ecosystem. It has been listed on a number of exchanges, most notably Bitmax. The betting mechanism allows users to stake any ERC20 tokens on the platform.
In summary Ferrum is a decentralized network built on DAG that solves scalability, transaction fees, offers ERC20 tokens staking, increases engagement.
Pros
- It has a large ecosystem with decentralized exchanges, storage wallets, currency conversion bridges
- Fast, less fee and more scalable when using DAG compared to DEFI projects on other Blockchains
- The development team provides sufficient information, they have a methodical roadmap to develop the project
- The multi-asset staking mechanism is ERC20 which brings passive income to users
- Cross-chain support with FRM token
Cons
- A payment gateway and currency converter primarily for African users
- The FRM token has low transaction volume and it is undervalued by the market
