Cryptocurrency veteran Austin Barack, researcher and principal of Coinfund blockchain-focused investment fund, shares his uber-bullish thesis on Fantom blockchain and its core native asset, FTM.
Technology, growth catalysts, narrative: Why FTM might be a smart bet for 2022
Mr. Barack has taken to Twitter to share a thread to cover the mid-term prospects of Fantom, a high-performance smart contracts platform powered by native asset FTM.
1/n In 2021, $FTM achieved incredible growth across all key metrics. I expect this growth to continue, with Fantom positioned as one of the most exciting base layers heading into 2022.— Austin Barack (@AustinBarack) January 4, 2022
Here's why it should be on everyone's list of key projects to watch:
First of all, Mr. Barack indicated a number of technical advantages Fantom design has over its core competitors. Its unique proof-of-stake (PoS) mechanism, dubbed Lachesis, boasts deterministic transaction finality and lightning-fast transaction confirmation.
Fantom's DAG-based aBFT design allows the blockchain to handle more than 10,000 transactions per second and scale its node structure to over 1,000 nodes.
Fantom is 360° compatible with Ethereum Virtual Machine: any dApp written for Ethereum (ETH) blockchain can easily migrate to Fantom. Both the end-user infrastructure (Metamask wallet) and development toolkit (Truffle developing environment) for Solidity programming work for Fantom's applications.
Fantom is on track to top league: Tron, Polygon left in the dust
Additionally, Fantom is going to address major EVM bottlenecks by releasing its own virtual machine, Fantom Virtual Machine, or FTM.
Besides a splendid technical design, Mr. Barack is fascinated by Fantom's community initiatives coordinated by a clutch of Web3 legends, including Andre Cronje, "the father of DeFi."
FTM can also benefit from the so-called "L1 narrative" that switches the focus of investors toward Layer 1 platforms for smart contracts, such as Ethereum, Solana, Terra and Avalanche.
In the final days of 2021, Fantom (FTM) ecosystem exceeded that of Polygon (MATIC) in terms of total volume of value locked in all dApps. Previously, it smashed veteran smart contracts platform Tron.