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Friday, September 24, 2021

Why You Need to Start Using the Fantom Blockchain Right Away

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Getting started with blockchain technology or switching from a specific blockchain network to another can be daunting, but it is nevertheless an optimal time to start looking outside of proven successes with outdated technologies such as Ethereum to optimize efficiency as well as monetary returns. Although those may seem like risk free, safe financial investments, they are no longer optimal choices when looking for faster transactions and lower costs. 

Below, we have put together two big reasons why joining this up-and-coming platform is a great idea for any user: those who are already versed in crypto and those who may not be as familiarized with it yet.

For those who are new to Blockchain, decentralisation is the future

For those less familiar with the concept of a blockchain, a blockchain is a “cloud-based system used to store information” and the network underlying cryptocurrency. The most typically well-known cryptocurrencies tend to be Bitcoin and Ethereum’s Ether. While Ethereum is the blockchain network for decentralized applications to be embedded, the ether is the currency that allows and drives for the usage of these applications within the network. 

Blockchain technology is the solution for all the ongoing security issues with data storage and data transferring as it is a decentralized system with no singular database utilized to store information. It has infinite uses, a most recent example being Fantom utilizing its blockchain-powered Fantom Tracker to help the Afghanistan Ministry of Health identify and report counterfeit drugs. This is just one of many recent examples of how blockchain technology is improving the current security of the world as we know it for the better.

For the pros: Fantom is the fastest, most user-friendly blockchain

When it comes to choosing a blockchain network to operate on, there is nothing quite like Fantom. It was built with the shortcomings of popular blockchain networks in mind and provides users with 1 second transactions. The low transaction fees in Fantom’s network allows new users who may be interested in joining the blockchain space to do so. 

Fantom has fortified security and is built upon a global, trustless and leaderless Proof-of-Stake network — data stored in the network could not be safer than it already is. Fantom is also highly scalable, processing thousands of transactions per second and scale to hundreds of nodes. In April, the Fantom Foundation reported over 200,000 daily transactions. For anyone with current Ethereum dApps, Fantom is completely compatible with EVM, meaning that it is very easy and efficient to deploy and run the apps on Fantom. 

There is no other blockchain in the DeFi space that can provide near zero fees and transactions in the blink of an eye. Whether an experienced user or someone that is just coming into the space, this blockchain platform is ideal for all users looking for the best possible experience with the strongest network support in speed and user experience.

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