What is FTM coin and should you buy FTM? The first thing to do is consider its advantages compared to other projects. According to our assessment, FTM's strong point is that it possesses the most advanced technology currently available, along with a diverse defi ecosystem and a large community.
Outstanding advantages of Fantom (FTM)
Fantom (FTM) is a public blockchain platform with many outstanding advantages:
High transaction and processing speed: Fantom uses a combined model of Proof-of-Stake (PoS) and Directed Acyclic Graph (DAG) to increase transaction and processing speed. Fantom's system can process thousands of transactions per second, while maintaining the flexibility to scale when needed.
Low transaction fees: With high transaction speeds, Fantom also offers lower transaction fees than many other blockchain platforms. This is useful for doing small, micro transactions and decentralized finance.
Scalability: Fantom is designed to be highly scalable, allowing the platform to handle large-scale and complex applications. Fantom's DAG structure allows multiple parallel child chains to exist, increasing processing capacity and avoiding bottlenecks.
Smart contracts: Fantom supports smart contracts, allowing developers to build and deploy decentralized applications on the platform. This opens up many opportunities for developing dApps (decentralized applications) on Fantom and creating diverse use cases.
High security: Fantom uses Proof-of-Stake (PoS) security mechanism to ensure security and avoid 51% attacks. Additionally, the platform has also undergone very thorough error testing and security testing to ensure stability and safety.
Development team and community: Fantom has a passionate and active development team and community. Support and contributions from the community help Fantom grow quickly and continuously
Besides, Fantom (FTM) at the present time has another big advantage, which is that it is CHEAPLY VALUED. The evidence is that the MC/TVL (Market Cap/Total Value Locked) ratio of FTM coin is reaching 0.5, which is considered the lowest compared to other blockchain platforms.
Fantom (FTM) Challenges Now
Although Fantom (FTM) has some advantages, it also faces many challenges. Ignoring the issue of Andre Cronje leaving the project (as we have analyzed above), here are some other difficulties and challenges that Fantom (FTM) coin is probably facing:
Platform coins are losing their heat: If last year was the year of Altcoins, especially platform coins (FTM itself has multiplied more than 100 times since the beginning of 2021), but perhaps not anymore. like that again. In the coming time, Layer-1 blockchains will gradually cool down, and it is predicted that only a few prominent blockchains will maintain growth, while the vast majority will be saturated.
Fierce competition between platforms: Fantom is competing for market share with Ethereum having had more than 6 years of presence in the Smart Contract field of blockchain. Additionally, Fantom is not the only cryptocurrency that offers fast transaction speeds and cheap fees. Solana (SOL) is said to be able to process at least 50,000 transactions per second and also charges a 1% fee. Or looking at it from another perspective, platforms like DOT, Solana... they outperform Fantom in many factors: cash flow, developers, applications, users,...
Fantom's network is unstable: Fantom is promoted as using the most advanced technology platform. But in reality, this is not necessarily the case. Fantom time is often congested, causing the transaction speed to slow down many times, along with significantly increased transaction costs.
Fantom does not have large funds investing in it: large investment funds often support product development, community and marketing projects. Besides, they also often act as market makers, and partly promote price maintenance and push up the project token price. Not having a large fund to invest in is very disadvantageous for FTM, making it a highly speculative coin, the buying and selling force mainly comes from the community, the amplitude fluctuates up and down.
Influenced by the general market: The price of FTM coin, like most other digital assets, depends too much on the performance of the overall cryptocurrency market, therefore especially the price of Bitcoin. So even if Fantom has its technology and innovation, it will have difficulty increasing in value if Bitcoin is stuck in a bearish state.
What is the potential for Fantom (FTM) in the coming time?
What is FTM coin and should you invest in FTM coin? In my personal opinion, Fantom is an interesting project with a lot to offer. However, facing many current challenges, in order to recover, Fantom needs to make efforts to develop their platform to attract more cash flow, developers, users...
The positive side is that currently, Fantom has taken actions to further develop its infrastructure, such as:
LevelDb: Supports reducing input/output processing time by up to 90%.
Snapsync: Improves the synchronization speed of nodes.
FVM (Fantom Virtual Machine): Fantom's private virtual server, similar to EVM (Ethereum's virtual server).
However, for further growth, perhaps Fanto (FTM) needs to diversify their DeFi applications more. Because I see that currently, although Fantom owns a lot of products in the ecosystem, most of these products only focus mainly on AMM, Lending & Borrowing and Yield Aggregator.
Besides, regarding the NFT segment on Fantom, although it also has projects, most of them are just collectibles (collectible photos), and currently there are no outstanding or famous works to compare with ecosystems. another state. Similarly, in the current hot metaverse field, many platform coins have gradually encroached to win this fertile pie, Fantom is probably still quite slow.
=> To be able to recover and develop in the near future, Fantom itself needs to diversify its DeFi products at a higher layer such as Interactive NFT, GameFi, Metaverse, Derivatives,...
In particular, there is another card in the cards for Fantom, which is the upcoming launch of Felix – a CEX (centralized exchange) developed specifically for Fantom. Having a CEX that specifically supports Fantom will help this ecosystem a lot, making money flow easier, especially with tokens in the system.
Should I invest in FTM coin now?
So should you invest in FTM coin (Fantom) or not? It cannot be denied that the past time has been a difficult period for Fantom when it encountered the FUD effect from the community. But in risk there will always be opportunity. Especially, for those of you who really have faith in Fantom, this time is a good opportunity to buy FTM coin at a really cheap price.
Why do I assert that, because I feel like the FUD from Andre Cronje has calmed down a bit now. And Fantom itself (FTM) is one of the blockchains that always perseveres in development, no matter what the market is like. Therefore, I believe that Fantom will definitely be able to continue to grow and develop in the future.
However, despite having faith in Fantom, one thing must be admitted that it needs a lot of time and effort to return to its strong momentum as before. If you want to buy FTM now, you can consider with a small amount of capital to avoid risks. If you are in a holding position, you can continue to hold, because FTM's long-term prospects still exist, and above all, FTM is currently one of the most undervalued platform coins today. now.
Conclude
I have provided most of the information you need to understand what Fantom is, what FTM coin is and whether you should decide to invest here or not. Here are the key points you need to remember:
Fantom is a platform that provides advanced, feature-rich and especially FASTER smart contracts.
Fantom is now considered a worthy alternative to Ethereum and has even been described as an Ethereum killer.
The token of the Fantom platform is FTM, which can exist under many different standards, but all help make transactions within and outside the ecosystem quickly and seamlessly.
Fantom's biggest advantage at present is that it still possesses outstanding technology, and above all, it is priced very cheaply.
Fantom still has some main challenges: competition between platform coins. Besides, Fantom is also inferior to some competitors in terms of number of users as well as large investment funds.
Fantom (FTM) still has a story to develop in the long term, but at this time many people will still be afraid and its potential is not really certain.
Currently, Fantom (FTM) is priced at $ 0.391667, ranked 44th on the cryptocurrency market, with a capitalization of $ 1.08 B.
Fantom (FTM) has been on its way to becoming a popular and widely used cryptocurrency. Hopefully through this article, you have clearly understood what Fantom is, what FTM coin is and know whether to invest in Fantom (FTM) or not. Wishing you wisdom and successful investing.
(Synthetic Aliniex)
