Throughout all of 2021, up-and-coming blockchain Fantom has been growing at an accelerated pace that surpasses all expectations. The network is increasingly becoming known in the cryptocurrency space for its near-zero transaction fees and instantaneous transactions. With Fantom’s latest upgrade put in place at the end of April, the growth that this new platform is experiencing shows no signs of coming to a pause. To capture a snapshot of the magnitude of the platform as it currently is, the blockchain now hosts over 200,000 daily transactions and has over 77,000 Fantom wallets on the platform.
Sydney, Australia, May 05, 2021 (GLOBE NEWSWIRE) — Below, we go over some of the highlights from Fantom’s greatest month for growth yet.
Fantom’s successful network update
Fantom’s new Go-Opera update was successfully completed on April 29, and further upgraded the network’s already impressive performance speed. The time to finality was optimized and now, no transaction takes longer than a second to complete. Within the blink of an eye, transactions on Fantom are fully processed. This is a revolutionary speed that has long-since been called for in the crypto community as blockchain speeds and network oversaturation in the past have sorely disappointed users. Further, Fantom improved its decentralization as new nodes can easily join the network with faster P2P synchronization. New nodes won’t even have to process previous events. Event emission is even more efficient today, which is ideal for when the network is experiencing delays in propagation between nodes so user experience will not be nearly as affected.
More details on the improvements can be found here.
Continued support from Stelian Balta’s HyperChain Capital
The blockchain platform received another investment from one of its very first supporters, HyperChain Capital. HyperChain Capital is a leading digital assets management company, and has notably supported Fantom since 2018 through an investment of $2.5 million. In April, HyperChain Capital added another $15 million into their stake in the company. This is a prime example of the way more eyes are turning towards this emerging, innovative platform as the next big thing in blockchain technology.
Fantom starts giving out grants to support developers
At Fantom’s core is the wish to give back to the community that has helped craft it into what it is today. In order to show their appreciation and further encourage development on the platform (#BuildOnOpera), Fantom Foundation has granted SpiritSwap and SpookySwap generous grants to support the spectacular developments that the two have made on the platform. SpiritSwap and SpookySwap achieved $165 million and $45 million respectively in TVL while being key players in driving daily transactions on Fantom. Further developers that were given grants by Fantom Foundation were HyperJump, who will use the grant for a community giveaway to further support the user base, and ZooCoin, whose grant was given based on their impressive development of a unified DeFi ecosystem.
New COO of Fantom Foundation
At the end of April, Barek Sekandari was promoted to Chief Operating Officer of the Fantom Foundation. His previous role was Chief Government Relations Officer, and he was at the forefront of the efforts in securing contracts in South Asia for Fantom to be implemented into major infrastructure digitization projects. Further, Barek leveraged Fantom’s blockchain services to provide citizens of Afghanistan with healthcare supplies and services as well as commerce aid and energy supply. He was also a leading force in the expansion of Fantom to Pakistan, and just this month, Fantom Foundation got to meet with KPK speaker Mushtaq Ahmed Ghani to define details of digitalization of Provincial Assembly and other government departments that are using the Fantom blockchain.