Austin Barack, co-founder of heavyweight VC CoinFund, explains why he’s bullish on blockchain Fantom (FTM)
- Technology, growth catalysts, story: why FTM could be a smart bet for 2022
- Fantom is on track to reach Premier League: Tron, Polygon left in the dust
Cryptocurrency veteran Austin Barack, researcher and director of blockchain-focused investment fund Coinfund, shares his ultra-bullish thesis on the 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.
1 / n In 2021, $ FTM achieved incredible growth for all key indicators. I expect this growth to continue, with Fantom positioning itself as one of the most exciting base layers by 2022.
Here’s why it should be on the list of all key projects to watch:
– Austin Barack (@AustinBarack) January 4, 2022
First of all, Mr. Barack indicated a number of technical advantages that Fantom Design has over its main competitors. Its unique Proof of Stake (PoS) mechanism, dubbed Lachesis, boasts a deterministic transaction finality and ultra-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 the Ethereum (ETH) blockchain can easily migrate to Fantom. End User Infrastructure (Metamask Wallet) and Development Toolkit (Truffle Development Environment) for Solidity programming work for Fantom 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 engineering design, Mr. Barack is fascinated by Fantom’s community initiatives coordinated by a group 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, the Fantom Ecosystem (FTM) surpassed that of Polygon (MATIC) in terms of the total volume of value locked in all dApps. Previously, he broke the veteran Tron smart contract platform.