Fantom blockchain is scaling new heights, whereas Bitcoin and different cryptos are in decline
The cryptocurrency market has been bearish primarily because of the Bitcoin crash. Blockchain tasks are hard-hit throughout this development.
However, Fantom blockchain is scaling new heights on this crypto downtrend. In July 2021, Fantom crossed $300 million in whole worth locked, clocking an 800% progress from the earlier three months.
This progress was potential as Fantom gives the very best providers to their customers, and in trade, customers present large help for the challenge. Fantom has demonstrated that if you happen to construct a user-centric platform, customers will assist help you it doesn’t matter what.
This 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 overall worth locked in a selected protocol determines its well being. Basically, TVL is the worth of property staked in a protocol. In brief, increased TVL means extra individuals are trusting Fantom and staking their property on the platform.
So, how is Fantom reaching such heights regardless of sturdy bearish developments within the crypto market?
The reply is their neighborhood
It’s easy, individuals belief Fantom’s providers, and thus they follow it. Fantom’s traders and token holders supported the platform even when FTM’s value took a nosedive within the bearish market.
Right here’s why, customers proceed to help Fantom:
Most significantly, increasingly builders proceed to launch their tasks on Fantom. Why? Customers choose quick, easy-to-use, safe, and cost-effective providers above all. And Fantom permits builders to construct simply that – state-of-the-art DeFi providers!
Fantom is a extremely scalable EVM-compatible blockchain. Even when the Fantom community faces excessive site visitors, the transactions price lower than $0.01. To high this off, the transactions are finalized in beneath one second.
Due to 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 forth., help Fantom blockchain.
Fantom raises the bar for transaction verifications, Amazon says
Not too long ago, the eCommerce and internet providers big 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 Internet Companies (AWS), Fantom has raised the bar for quick blockchain transactions.
Fantom makes use of AWS to supply quick, safe, and steady providers to personal enterprises. Plus, contemplating their beneath one second transaction finalization time, Fantom was labeled one of many fastest blockchain platforms in April 2021.
Within the decentralized area, the person neighborhood is on the heart. Jack Dorsey acknowledged the power of community whereas speaking about Bitcoin. Not just for Bitcoin, however neighborhood participation can also be important for each decentralized challenge to succeed.
Fantom is a superb instance of how customers can help a challenge, in the event that they belief it even in unsure instances, given you present worth to them.