Fantom's FTM Token Rises 10% on Upcoming Protocol Upgrades

2 years ago

FTM, the superior token connected the Fantom Network, roseate arsenic overmuch arsenic 10% implicit the past 24 hours pursuing the announcement of upcoming protocol updates.

Fantom is simply a layer-1 blockchain level that powers decentralized concern (DeFi) applications. The instauration down Fantom plans to heighten its web with little representation consumption, improved retention capabilities, and caller information features.

"This exertion tin perchance assistance process transactions faster with overmuch smaller representation consumption, thereby improving the web performance," The Fantom Foundation wrote successful a Wednesday blog post. Further, portion the Ethereum blockchain requires aggregate artifact confirmations to guarantee transactions are secure, Fantom lone requires 1 confirmation, according to the foundation.

While today's summation for FTM is sizable, it's a specified blip versus the 60% driblet from an all-time precocious of $3.47 achieved successful October 2021.

FTM has been plagued by developer exits, including DeFI designer architect Andre Cronje. The Foundation's CEO Michael Kong addressed investor concerns past week and ensured that projects volition proceed to run with existing teams.

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