Friday, October 22, 2021

Fantom surges 52% following network upgrade

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The token of good contract platform Fantom, FTM, was topic to a 52% worth improve main into Thursday morning following the profitable implementation of a brand new community improve.

Dubbed “Go-Opera,” the newest upgrade to Fantom introduces a spread of technical modifications that, based on a current explainer by the Fantom Basis, makes the community sooner, extra environment friendly and extra dependable.

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The improve was announced as accomplished at 5:42 a.m. (UTC+1) on Thursday. It was two hours later earlier than the FTM coin worth peaked amid a surge that left it 52% extra worthwhile than the day earlier than.

The coin worth climbed from $0.461821 as much as $0.705069 within the lead as much as and aftermath of Thursday’s improve.

Fantom doesn’t use a blockchain within the conventional sense however is as a substitute based mostly upon Directed Acyclic Graph expertise. This permits for asynchronous affirmation of transactions, that means customers don’t must kind a single queue for block house like on a typical blockchain.

In response to the Fantom Basis, the Go-Opera improve makes Fantom extra environment friendly in processing transactions, reducing affirmation time to 1 second. It additionally reduces the time it takes for nodes to synchronize to the community to 1 / 4 of what it was beforehand.

Fantom’s valuation has grown over 4,000% because the begin of 2021, because the coin worth continued to push to new all-time highs. On Wednesday, the Fantom Basis obtained an extra $15-million investment from Hyperchain Capital, marking a 100% improve on the agency’s preliminary funding.