Fantom Ecosystem Advances With Increased Daily Transactions and New Partnership

Fantom Ecosystem Advances With Increased Daily Transactions and New Partnership

  • Smart contract adoption has increased by 4,200 percent since February 2021.
  • The Fantom Foundation and Poloniex have announced a partnership.

According to a press release from the company, Prof. Bernhard Scholz will join Fantom on May 1, 2022, as the company’s chief research officer. SUN Microsystems Labs in Brisbane, where he helped establish the Parfait bug tracking project, and the author of Souffle, a language for static program analysis used widely by corporations like Oracle to uncover security issues in Java JDK.

Fantom states:

”his research focuses on smart-contract execution, security, and performance. He has published extensively on programming languages and blockchains and has a strong understanding of the Fantom platform.”

Scholz will assume responsibility for all Fantom research activities, including developing a consensus-building strategy. A new middleware stack and the Fantom Virtual Machine (FVM) are also being developed by a team led by him to improve smart contract security and speed.

Recent Surge in Growth 

FTM has also re-entered the top 10 acquired tokens by the 100 largest ETH whales in the previous 24 hours, according to WhaleStats, and is now trading at $1.37. Smart contract adoption has increased by 4,200 percent since February 2021 on the Fantom (FTM) platform, a Layer 1 blockchain platform that enables decentralized financial (DeFi) apps. In addition, the Fantom Foundation and Poloniex, a major cryptocurrency exchange, have announced a partnership to help the Fantom ecosystem grow. 

Fantom’s ecosystem growth advances ↗️ 🔹 Transactions: 1,050,000/day average in Feb ’22 versus 6,800/day average in Feb ’21 🔹 Top 10 dApps combined have $4B total value locked (TVL)🔹 70+ dApps with >$1M TVL Sources: @FtmScanHQ ; @DefiLlama #FantomByTheNumbers pic.twitter.com/zcnXhYMcTI

— Fantom Foundation (@FantomFDN) March 25, 2022

The goal of the cryptocurrency exchange is to provide additional resources to the Fantom platform so that more decentralized projects and apps may be developed on the blockchain. As a result, a further $4 billion is locked up in the top 10 Dapps (TVL). According to CoinMarketCap, the Fantom price today is $1.37 USD with a 24-hour trading volume of $495,177,453 USD. 

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