Smart contracts made blockchain technology easier to look at and use. It made it possible to make apps, digital assets, organizations, and more. There are a lot of different blockchains, but two new ones are becoming popular in the crypto world. They are Fantom and Avalanche.
Fantom (FTM)
It was founded by Michael Kong in December 2019 to help dApps and digital assets, among other things. Security, low transaction fees, and high throughput are all achieved with the help of the Asynchronous Byzantine Fault Tolerant (aBFT) proof-of-stake consensus algorithm (Lachesis). This method uses a consensus layer that can be used in any network. It also has a machine called Fantom Virtual Machine that helps with project development on the ecosystem.
Avalanche (AVAX)
Avalanche was created by Ava Labs in September 2020 to help DeFi ecosystems work together. It has three subchains: the Exchange Chain (X-Chain), the Platform Chain (P-Chain), and the Contract Chain (Contract Chain) (C-Chain). People can make and trade assets on the X-Chain. The P-Chain is where validators and subnets come together, and the C-Chain helps with the execution of EVM and smart contracts. It works with the Avalanche and Snowman consensus protocols.
FTM and AVAX
All the things that make both blockchains safe and scalable, as well as decentralized and cheap to use, are the same with each one. They have wallets where their native tokens can be stored and staked while still being able to work with other types of wallets. Like Fantom, which has 22 members, Avalanche is a part of a group called Ava Labs that has more than 100 people on it. Due to Fantom’s compatibility with Solidity and Vyper, it can easily work with other projects.
Fantom is faster than Avalanche because it has a one-second deadline. Also, Fantom has a fully implemented on-chain governance system where FTM holders can help run the network and make changes. They can also vote on and make changes to the network. However, it costs more to be a validator on Fantom than it does to be a fan.
Verdict
If you look at CoinGecko, FTM’s price went up 13,500% last year, and AVAX’s went up 560%, too. This could mean that even though it is used a lot, it is still undervalued. The number of people using the Fantom blockchain is going up, which could help its value in the long run. So, in this case, the best thing to buy is Fantom, because FTM costs $2.08 right now.
Then, before you join the Fantom wagon, go ahead and do an in-depth review. After that, be smart and only put money that you can lose.
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