FTM Increases 183% in 2023, Cronje Speaks of Strengths
The price of Fantom’s native token FTM has increased by more than 180% since the beginning of 2023, reaching its highest level since the beginning of May at $0.6. According to CoinMarketCap, thanks to this triple-digit growth, Fantom has added more than a billion in market cap and is among the top 50 crypto assets.
Andre Cronje focuses above all on the speed and efficiency of the Fantom. The developer says the fastest confirmation in less than nine seconds and the true certainty that the displayed transaction is the last transaction on the chain eliminates the need to “wait 10 blocks.”
The second important pillar of the Cronje thesis is transaction fees. Fantom’s gas approach allows smart contract developers to easily monetize, earning 15% of every fee when users interact with the contract. On the other hand, in the near future, Fantom will introduce gas supports, where users do not need to own a native token, FTM, to transact.
Third, Cronje points to the lightness of Fantom, which lacks any network segmentation like L2 in Ethereum. The blockchain architect also says that Fantom has full compatibility with the Solidity and Vyper programming languages, which increases interoperability and makes it easier for third-party developers to adapt. On top of all that, Cronje recalls Fantom’s massive funding that allowed it to run for 30 years without looking back, distributing grants and hosting hackathons.
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