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 initiatives are hard-hit throughout this development.
Alternatively, 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 offers one of the best providers to their customers, and in change, customers present huge help for the undertaking. Fantom has demonstrated that for those who construct a user-centric platform, customers will assist help 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% improve previously three months.
For a little bit of background, the full worth locked in a particular protocol determines its well being. Primarily, TVL is the worth of property staked in a protocol. In brief, larger 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 tendencies within the crypto market?
The reply is their group
It’s easy, folks belief Fantom’s providers, 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 help Fantom:
Most significantly, an increasing number of builders proceed to launch their initiatives 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 below one second.
Due to Fantom’s scalability and low transaction charges, many initiatives 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 initiatives run on Fantom?
Initiatives like SpookySwap, SpiritSwap, Tomb Finance, amongst others, are natively constructed on Fantom. Furthermore, platforms like Curve, Quicknode, Ankr, Chainlink, and so on., help Fantom blockchain.
Fantom raises the bar for transaction verifications, Amazon says
Not too long ago, the eCommerce and net providers 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 Internet Providers (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 below one second transaction finalization time, Fantom was labeled one of many fastest blockchain platforms in April 2021.
Within the decentralized house, the consumer 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 undertaking to succeed.
Fantom is a superb instance of how customers can help a undertaking, in the event that they belief it even in unsure occasions, given you present worth to them.