Fantom blockchain is scaling new heights, whereas Bitcoin and different cryptos are in decline
The cryptocurrency market has been bearish primarily as a result of Bitcoin crash. Blockchain tasks are hard-hit throughout this pattern.
Then again, Fantom blockchain is scaling new heights on this crypto downtrend. In July 2021, Fantom crossed $300 million in complete worth locked, clocking an 800% development from the earlier three months.
This development was potential as Fantom gives the perfect companies to their customers, and in alternate, customers present large assist for the mission. Fantom has demonstrated that for those who construct a user-centric platform, customers will assist assist you it doesn’t matter what.
Here is how Fantom carried out within the crypto downtrend
As of July 2021, Fantom has a TVL of $306 million. That is greater than an 800% enhance prior to now three months.
For a little bit of background, the full worth locked in a selected protocol determines its well being. Primarily, TVL is the worth of property staked in a protocol. In brief, increased TVL means extra persons are trusting Fantom and staking their property on the platform.
So, how is Fantom reaching such heights regardless of robust bearish tendencies within the crypto market?
The reply is their group
It’s easy, individuals belief Fantom’s companies, and thus they stick with it. Fantom’s buyers and token holders supported the platform even when FTM’s worth took a nosedive within the bearish market.
Right here’s why, customers proceed to assist Fantom:
Most significantly, increasingly more builders proceed to launch their tasks on Fantom. Why? Customers want quick, easy-to-use, safe, and cost-effective companies above all. And Fantom allows builders to construct simply that – state-of-the-art DeFi companies!
Fantom is a extremely scalable EVM-compatible blockchain. Even when the Fantom community faces excessive visitors, the transactions value lower than $0.01. To prime this off, the transactions are finalized in below one second.
Because of Fantom’s scalability and low transaction charges, many tasks are natively constructed on Fantom whereas some protocols have shifted to Fantom from Ethereum. The truth that 14,000 smart contracts have been deployed on Fantom as of July 2, 2021 solely appears to confirm this declare.
Which tasks run on Fantom?
Tasks like SpookySwap, SpiritSwap, Tomb Finance, amongst others, are natively constructed on Fantom. Furthermore, platforms like Curve, Quicknode, Ankr, Chainlink, and so on., assist Fantom blockchain.
Fantom raises the bar for transaction verifications, Amazon says
Lately, the eCommerce and internet companies large Amazon did a case study on Fantom. Sure, you heard that proper. Amazon did a case examine on Fantom.
Of their case examine, Amazon says that Fantom is dedicated to offering top-notch options to its customers. And with using Amazon Net Providers (AWS), Fantom has raised the bar for quick blockchain transactions.
Fantom makes use of AWS to supply quick, safe, and steady companies to personal enterprises. Plus, contemplating their below one second transaction finalization time, Fantom was labeled one of many fastest blockchain platforms in April 2021.
Within the decentralized house, the person group is on the heart. Jack Dorsey acknowledged the power of community whereas speaking about Bitcoin. Not just for Bitcoin, however group participation can also be important for each decentralized mission to succeed.
Fantom is a wonderful instance of how customers can assist a mission, in the event that they belief it even in unsure instances, given you present worth to them.