By bringing a blockchain platform ensuring security, scalability and speed Fantom is making waves in the world of cryptocurrencies, with exponential growth of the company raising eyebrows in the investor community.
Sydney, Australia, April 28, 2021 (GLOBE NEWSWIRE) — Since it’s foundation, top investor Hyperchain Capital has been one of Fantom’s biggest supporters, becoming one of the first large-scale investors in 2018.
The company has now doubled-down on its original investment, pouring another $15 million into the group in recent months.
Hyperchain founder Stelian Balta has been a supporter of Fantom from the beginning, “Stelian Balta never focused on prices. Innovation and decentralization have always been the major drivers of his investment thesis that’s why he was an early investor in Bitcoin, Ethereum, Cosmos, Polkadot and many more. When Stelian Balta personally read the research papers Fantom team put together, he knew he had to get involved in the project.” explains a HyperChain Capital executive.
Fantom is a high-performance, scalable, and secure smart-contract platform. It is designed to overcome the limitations of previous generation blockchain platforms. It’s fully permissionless, decentralized, and open-source.
The platform is powered by an aBFT consensus called Lachesis, which is capable of scaling to many nodes around the world in a permissionless, open environment, providing a great degree of decentralization.
This cross-chain interoperability is precisely what makes Fantom so exceptionally flexible. Developers can port their existing Ethereum-based apps on Fantom Opera mainnet in a matter of minutes, substantially upgrading the performance and lowering costs.
For example, using the platform, transactions are completed within 1 second, cost only a fraction of a cent, and the platform is EVM compatible with developers having the ability to deploy smart contracts just like on Ethereum.
Fantom doesn’t just provide users the ability to exchange digital currencies either. The platform also gives users the ability to build applications to securely send payments, store sensitive information, such as medical records, track supply chain and infinite other possible use cases.
As well as being such a step forward, Fantom is also completely open-source, with the company committed to creating building blocks for anyone to use and customize to their needs. Fantom relentlessly aims for high transparency in it’s work. Based on those principles, the system’s code is open-source and available on Github.
Fantom recently rolled out Go-Opera, a large-scale update to the platform which is resulting in some of the fastest TTF (time to finality) in the business, averaging around 1 second.
Go-Opera also sees changes to other aspects of the blockchain also, with P2P synchronization now three times faster, as well as new nodes joining the network that are synchronized far more efficiently.
Looking towards the future, the group says they are dedicated to maintaining their position as the one of the fastest, transparent and most secure blockchain platforms in the industry, looking at further developments to ensure the group remains ahead of the game.
For more information on the platform, visit https://fantom.foundation/