Review on Ferrum Network by Pedro O. Alvino M.
Exchange of crypto assets with interoperability between chains
The platform has already been introduced to the market a year ago, there are few DEFI platforms that provide interoperability in chains through a protocol and proxy that allows cryptocurrency exchange without the need to require high costs on the network and slow processing, given the case it is Bitcoin, and where it also involves other financial services, such as cryptocurrency protection and currency staking.
The current situation of the project, with a large part of its roadmap completed, with great support from the community, according to statistics the community has begun to grow in recent months and this is due to the popularity that decentralized financial services have taken ( DEFI), in which its main function of exchange of cryptocurrencies through the derivative Fe, that the value of Fe is in relation to the cryptocurrency that you want to change, likewise allows a user to exchange Bitcoin in equivalent to Fe, in it The Ferrum network will be used, which is much faster and with lower cost to be able to carry out transactions with Bitcoin in its equivalent to Fe, this happens thanks to the burn test, external test, and futures that allow this exchange between chains, where it can be used with any other cryptocurrency.
Pros
- allows inter-chain exchange through the Fe protocol
- It consists of financial applications and payment gateways.
- Extensive roadmap with new implementations in the next year.
- Huge community on their social networks
- constituted as a DEFI platform, which is currently fashionable in the market
Cons
- Congestion on the Ethereum network may hamper the trading of the FRM token.
- Most of the applications it offers are not in high demand for their services.
