Fantom Aims to Provide the Highest Throughput Blockchain Available: Andre Cronje

Andre Cronje also submitted in his recent post that all Dapps utilizing Fantom would benefit from the same security layer.

  • Fantom will focus on providing high throughput in the coming days, according to André Cronje. 
  • The co-founder says Fantom Dapps should share the same level of security and the base layer to aid all verticals.
  • Over the next 12 months, Fantom plans to create an environment where DAapp developers can build sustainable businesses.
  • Cronje said Fantom would focus on other areas, like gas monetization and performance engineering. 
  • Separately, the developer outlined Fantom’s performance in 2022, showing a decline in certain metrics compared to the previous year.

Fantom co-founder Andre Cronje, in a new letter to Fantom Foundation Team, gave an insight into the possible development of Fantom in 2023. In the letter, Cronje disclosed that Fantom would focus on providing the highest throughput blockchain. As revealed, the blockchain will be able to provide a single secure settlement layer for all decentralized activities.

Consequently, Cronje submitted that all Dapps through Fantom should be able to share the same layer of security and can enable a base layer that can aid all the verticals. These verticals, according to him, must be aimed at improving developers’ tools, UX, integration, and ease of use.

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“Our overarching objective over the next 12 months will be towards creating an environment for dapp developers to build sustainable businesses while differentiating ourselves from other layer one solutions," Cronje stated.

Cronje, in the letter, indicated that Fantom would also focus on other areas like gas monetization, gas subsidies, account abstraction, economic abstraction for gas fees, performance engineering, and many others. These, according to him, will push the Dapps space into an advanced position in the coming years.

“This is an incredibly hard mission, we aren’t allowed any shortcuts,” Cronje said.

How Fantom Fared During the Year

In a separate blog post, the developer reviewed Fantom’s performance for 2022. According to the report, transactions on the Fantom blockchain grew by 131% between 2021 to 2022. However, this figure represented a trying period for Fantom as it enjoyed a 12,988% increase in on-chain transactions between 2020 to 2021. Additionally, the project saw a modest 41% increase in daily users for the year. 

On the Flipside

  • Earlier, Cronje announced his departure as the Fantom Foundation’s technical advisor and the founder of Yearn Finance through a colleague, Anton Nell. Surprisingly, Cronje returned to the DeFi space and Fantom early last month. Confirming his return, the dubbed “Father of Dapps” updated his page on LinkedIn as a Director in Fantom.

Why You Should Care

Layer-1 protocols like Solana had a lousy 2022. With its high throughput and promise of an eco-friendly blockchain, Solana gained prominence at the beginning of the year. Solana subsequently suffered immensely following the FTX collapse, making way for other Layer-1 protocols like Fantom. It will be fascinating to see how far Fantom can go with its vision.

 

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Soumen Datta

Soumen has been a dedicated researcher and writer in the field of cryptocurrencies for the last few years. Even though Indian crypto regulations are still unclear, he believes that India will continue to innovate in the years to come. He loves to play his guitar and sing along in his spare time. He holds bags mostly in BTC, ETH, BNB, MATIC, ADA.