Business Fantom Registers 10 Million Transactions on its Blockchain at...

Fantom Registers 10 Million Transactions on its Blockchain at Record Speed

-

Fantom, the highly scalable blockchain platform that revolves around speed and security — has continued to see exponential levels of growth, putting the network in a position to cross the 10 million total transactions mark today. The passing of this major milestone comes just two weeks after Fantom reached their initial target of 3 million user transactions. 

Last month, in the beginning weeks of April, Fantom was experiencing numbers that were ranging between about 10 to 15 thousand transactions per day. During this period, Fantom was still cementing itself as a network that provided unique advantages in order to stand out amidst the competitive blockchain network market. 

Interactions and activity within the network began to pick up traction following a major network upgrade that successfully optimized the user experience by way of increased speed and efficiency. This advancement gave Fantom an upper hand over competitors such as Bitcoin and Ethereum specifically due to the newfound opportunities that were offered to developers. The ability to quickly scale and utilize the network as a foundation for app development along with the affordable transaction rates has pushed Fantom to explode within the DeFi sphere. 

The core of Fantom is supported by its permissionless aBFT consensus protocol which maximizes decentralization and speed — transactions are able to be completed within one second regardless of the greater network conditions. These characteristics have allowed the blockchain to gain a reputation as one of the most innovative and reliable systems currently offered on the global market. 

These integral aspects of the technology have attracted attention from a myriad of users and market niches, propelling the levels of unprecedented growth. This attention is evident when looking at the surge in transactions which has jumped from 10-15 thousand a day to 500-600 thousand a day in a short span of time. 

Interest and support from outside parties has been a significant contributor to this exceptional growth as well. Companies such as HyperChain Capital, a leader in the digital assets marketing industry, have committed a 15 million dollar investment to the network so as to continue Fantom’s expansion in the coming years. Along with this, governmental organizations such as Pakistan’s Punjab Prisons Department have partnered with the company to enhance auditing procedures and monitor real time changes that are occurring within the system. An increasing number of official organizations such as this — especially those across Asia — have formulated agreements with Fantom to power the base of their operations. 

As Fantom passes the 10 million mark, the company is continuing to build their relationships with exciting new projects — such as SpiritSwap, a native DEX on Fantom offering trading, farming and staking, with more features planned — that are taking the industry by storm. Fantom is continuing to make strides and produce relationships with users around the world to improve general capability and maintain their levels of growth.

Latest news

first major storm of the season is set to drench the drought-stricken Southland, warn residents in Fire scar area should be on high alert

The first major storm of the period is set to soak the dry season stricken Southland Monday evening, bringing...

Many public agencies in California faces low vaccination rates, Thousands of state workers still unvaccinated

90 days after Gov. Gavin Newsom required state workers to be completely vaccinated against COVID-19 or go through week...

Magnitude 3.6 earthquake struck near Los Angeles

A magnitude 3.6 earthquake struck close to Los Angeles at around 7:01 a.m. Sunday, as per the U.S. Geological...

aromatherapy spray imported from India linked to U.S. deaths due to a serious tropical disease

U.S. health officials may have tackled the secret of how four people in various states caught a serious tropical...

Mammoth Mountain has moved up its opening date, season will instead begin on Oct. 29

Mammoth Mountain has climbed its opening date for the colder time of year sports season to in the not...

Several strong storms are rushing toward Central and Northern California

Several strong storms are hurrying toward Central and Northern California, carrying truly necessary downpour to dry season stricken regions...

Must read

California Thinks about Expanding Expulsion Ban Past June

Gov. Gavin Newsom says California will pay off all...

San Fernando Valley church and nursery school has been burglarized three times in A Year

A notable San Fernando Valley church and nursery school...

You might also likeRELATED
Recommended to you