Austin Barack, co-founder of heavyweight VC CoinFund, explains why he’s bullish on blockchain Fantom (FTM)
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, story: why FTM could be a smart bet for 2022
Mr Barack took to Twitter to share a thread covering the medium-term outlook for Fantom, a high-performance smart contract platform powered by the native FTM asset.
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 enables the blockchain to handle over 10,000 transactions per second and expand 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 reach Premier League: Tron, Polygon left in the dust
Additionally, Fantom will resolve 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 what is known as the ‘L1 narrative’ which shifts investor attention to 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.
