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The cryptocurrency market is now worth more than $3 trillion according to Blockreview.net. Bitcoin is not dominant anymore as other altcoins are picking up. Solana is at an all-time high. Ethereum is also at an all-time high. Fantom is the relatively new kid on the block. However, some are saying that Fantom could be Solana and Ethereum’s killer. Fantom token price (FTM) has become 10X in the last couple of months. Excitement about the possibilities of decentralized finance and non-fungible tokens is growing, and memecoins like Dogecoin and Shiba Inu continue to attract attention.
Ethereum is an open-source blockchain-based platform that creates and shares business, financial services, and entertainment applications. Ethereum users pay fees to use dApps. … Ethereum has its own associated cryptocurrency, Ether or ETH. Its cryptocurrency is now second only to Bitcoin in market value.
Solana is a public blockchain platform. It achieves consensus using proof of stake and proof of history. Its internal cryptocurrency is SOL. Bloomberg considers Solana to be "a potential long-term rival for Ethereum". Like Ethereum, Solana can interact with smart contracts.
Fantom is a high-performance, scalable, and secure smart-contract platform. It is designed to overcome the limitations of previous generation blockchain platforms. Fantom is permissionless, decentralized, and open-source.
In this deep dive, I look into
a) What are the positives of Fantom?
b) What is the risk associated with Fantom?
c) Whether Fantom merits any investment from me?
d) Is Fantom really that superior to Ethereum or Solana?
Some of the key things that come out are that Fantom has extremely strong technology, a good team, and helps with Scalability Trilemma. Theoretically, it can process 20,000 transactions per second. Although it is yet to be tested. Total transactions on the platform are significant and have increased in the last couple of months. Transactions on Fantom are also increasing. Fantom (FTM) is compatible with the Ethereum network.
Fantom has a lot of strengths. At the same time, there are quite a few weaknesses e.g. it’s too much dependent on Andre Cronje, the current Defi architect. Also, it’s built using Solidity with Ethereum Virtual Machine. So, it makes it dependent on Ethereum.
Overall. I am investing in Fantom with some caution and looking to scale up slowly if Fantom foundation executes well with time. Fantom is a side -dish and NOT the main dish 😉
00:00:48 Crypto market overview
00:01:44 Why fantom is getting so much attention
00:02:21 What is Fantom?
00:02:53 Does Fantom address Scalability Trilemma
00:03:56 Fantom advantage in scalability, decentralization, and security
00:06:46 Fantom transaction Volume in last one year
00:07:06 Fantom total revenue in last one year
00:07:17 Fantom total value locked (TVL) compared to Ethereum, Solana, Avalanche, Polygon
00:08:05 Fantom management team
00:08:45 Fantom (FTM) future growth potential
00:09:33 Fantom rewards system
00:10:06 Risks with Fantom
00:11:30 Investment strategy for Fantom?
00:14:00 Bye bye
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