Rising to the Top: 13 Reasons Why Fantom is the Future of Smart Contract Platforms

Andrew Cronje, the founder of fantom, tweeted 13 reasons why Fantom is rising to the top of the cryptocurrency space.

Fantom is looking for faster transactions and strong adaption to their platform for their users.

In this blog, we will delve into these 13 reasons mentioned by Andrew Cronje in his recent tweet and explore why Fantom is quickly becoming the go-to platform for developers and users alike.

Fastest confirmation times

Fantom offers some of the fastest confirmation times in the market, with a sub 900ms finality. This offers a smoother user experience for both dapp builders and users. Faster confirmation times mean that dapp users can execute transactions and receive Confirmation almost instantly, leading to a more seamless and enjoyable experience

True finality

Fantom operates on a true finality system, meaning that once a transaction is seen by the network, it is final and cannot be rolled back by a chain reorg.

This eliminates the need for complex “waits 10 blocks” UI logic and provides a Straightforward and secure system for dapp users.

Synchronous RPC Fanyom also offers synchronous RPC, which is only possible due to low confirmation time. With synchronous RPC, there is no need for the asynchronous fire-and-forget method or the callback hell that often comes with it. This allows for a more streamlined and efficient dapp experience.

Gas monetization

Fantom allows dapp developers to earn revenue from gas fees on their contracts. Developers can earn up to 15% of all gas spent on their contracts as revenue. This provides a sustainable source of funding for dapp development and helps to ensure the long-term success of the fantom platform.

Gas subsidies

To further increase accessibility, fantom also offers gas subsidies, which will also allow the user to interact with dapps even if they don’t have any FTM. This is expected to be rolled out in Q2-Q3 of this year and will help to onboard users who may not have previously been able to use the fantom platform.

Native smart wallets

A Future-Proof solution for normal web2 methods one of the biggest hurdles faced by dapp users and builders is the lack of a user-friendly and intuitive wallet system. However, with the release of fantom’s native smart wallets, this problem is set to be a thing of the past.

These wallets will allow the user to interact with dapps using normal web2methods such as username/password, social auth, and face id. This means that users will no longer have to rely on complicated private key systems, making it easier for them to access and use decentralized applications.

Full Solidity & Vyper compatibility

A multichain journey made easy fantom offers full compatibility with both solidity and viper, which are the most popular programming languages for writing smart contracts.

This means developers will not have to spend time learning new programming languages or struggle to adapt to new tools. Instead, they can continue writing smart contracts in their preferred language and deploy them on other chains with ease, making the transition to decentralized applications a lot smoother.

No segmentation between networks: Shared Security, Liquidity, and Users Fantom eliminates the segmentation between different subnets, supernets, and L2s, ensuring that security, liquidity, and users are all shared across the network. This will not only reduce the risk of fragmentation but also increase the overall security and stability of the network, as well as the accessibility of dApps built on the Fantom platform.

Sustainable funding and revenue

Fantom offers a sustainable funding and revenue model that combines the benefits of Gitcoin grants, ecosystem vault, and gas monetization (revenue share). This means that dApp builders will be able to earn revenue from gas fees on their contracts, as well as access funding through grants and the ecosystem vault, ensuring that they have the resources they need to develop and grow their projects.

Easy onboarding

Fantom offers an easy onboarding process for developers, with no previous experience required. The platform holds hackathons every three months where developers can join and learn everything they need to know to build on the Fantom network. This makes it easier for developers to get started and provides an opportunity for them to learn from experienced professionals in the industry.

Proactive security

Fantom prioritizes security for its users and dapp developers, providing an automated on-chain continuous auditing service via Watchdog from Dedaub. This ensures that any vulnerabilities are identified and addressed quickly, providing peace of mind for developers and users alike. This proactive security approach is critical in the cryptocurrency space, where security breaches can result in significant financial losses.

Legacy of Fantom

Fantom has been operating for four years, making it one of the oldest smart contract chains after Ethereum. The platform has a proven track record, with 99.99% uptime, providing reliability and stability for developers and users. This long history of operation is a testament to the platform’s durability and ability to withstand the challenges of the cryptocurrency space.

30-year runway offered by Fantom

Finally, Fantom offers a 30-year runway, providing developers and users with the peace of mind that the platform will still exist decades later. This long-term outlook is essential for developers who want to build on a platform that will remain viable for the long term. With Fantom’s sustainable funding and revenue models, developers can be confident that the platform will continue to evolve and meet the needs of the community for many years to come.

Legacy of Fantom

30-year runway offered by Fantom

Conclusion

Fantom is a leading smart contract platform that offers several unique advantages for developers and users. With its fast confirmation times, true finality, and synchronous RPC, Fantom provides a smoother user experience for dapp builders and users. Additionally, the platform’s gas monetization, native smart wallets, full compatibility with Solidity and Vyper, and easy onboarding process make it an attractive choice for developers. With its proactive security measures, the legacy of four years with 99.99% uptime, and its 30-year runway, Fantom provides the stability and reliability needed for long-term success in the cryptocurrency space.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing