There’s a lot of excitement in the world of blockchain technology these days as concerns of poor scalability are gradually being addressed by up and coming crypto platforms. In this regard, if the devs over at FANTOM are to be believed, their blockchain will offer a level of scaling that most blockchains can only dream of at this stage.
Is There a Future for FANTOM?
As is the case with any new technology being hyped prior to its initial coin offering, there are some caveats to take into account. Even so, there is plenty of excitement regarding FANTOM, as this new blockchain project coming out of South Korea has been purposefully designed to focus primarily on scaling and smart contract technology.
No one will deny public blockchains suffer from a lack of scalability these days. Perhaps the best example is Bitcoin whose transaction throughput is mediocre at best. Ethereum doesn’t fare much better either even though its daily overall transaction volume is sitting comfortably near the 1 million mark. Even so, now seems to be the perfect time to take this technology to a whole new level
FANTOM hopes that their Directed Acyclic Graph based low-cost instantaneous transactions will undoubtedly attract plenty of attention and that their unique approach will result in large-scale transactions taking place across many different industries. This is not a blockchain simply designed to rival Bitcoin and Ethereum but rather impact a wide range of services and industries.
If everything goes according to plan, FANTOM will accommodate up to 300,000 transactions per second. For a project focusing on smart contracts, dApps, and scaling, that seems more than needed. Moreover, it appears FANTOM aims to become the world’s primary DAG-based smart contract platform, which will be quite a tall order.
While the vision put forth by the FANTOM team sounds pretty exciting, it remains to be seen if they can deliver on their promises. With the technology still in its early stages of development, it is evident that plenty of work still needs to be done before this platform become can go mainstream. Lastly, it appears that the company has active partnerships with Oracle Korea, Softbank Group, Bibox, but whether they pay off or not is a different matter altogether.
Looking to advertise? We will gladly help spread the word about your project, company, or service. CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio. Contact us if you have any questions: [email protected]