The first programmable blockchain, Ethereum (ETH), was launched in 2013. Unlike previous blockchains, which only served as digital ledgers for transaction data, Ethereum (ETH) could also support smart contracts, which are self-executing computer programmes. Since then, the technology has grown into a thriving ecosystem of dApps and DeFi products. Fırepın news…
Ethereum (ETH) is now a thriving software and service ecosystem, but its popularity has exposed its lack of scalability. Fees have risen as more people have flooded the network with transactions, causing congestion. Of course, the developer community is working on a solution, but it won’t be ready until next year.
Meanwhile, competitors such as Fantom (FTM) and FIREPIN Token (FRPN), which is going through its presale stage, have a chance to gain ground.
Here’s what you should be aware of.
Fantom (FTM)
In December of this year, the Fantom (FTM) blockchain went live. The Lachesis protocol, a proof of stake (PoS) consensus mechanism that boosts throughput to thousands of transactions per second, is the company’s main innovation. Fantom can also complete transactions in one or two seconds at a fraction of a cent per transaction. Ethereum (ETH), on the other hand, processes about 14 transactions per second and charges an average fee of more than $13.
Even better, Fantom (FTM) is compatible with Solidity, the programming language used to create Ethereum (ETH) smart contracts. Developers can now quickly deploy Ethereum (ETH) based software and services on the Fantom (FTM) blockchain, improving performance and lowering costs. Yearn.finance, an Ethereum (ETH) based yield aggregator, for example, joined Fantom’s (FTM) rapidly growing network of DeFi services last October. Fantom (FTM) is currently the sixth most popular DeFi ecosystem, with nearly $6 billion invested.
Fantom’s (FTM) value proposition — fast and cheap transactions, as well as compatibility with Solidity — makes it an excellent candidate to disrupt Ethereum (ETH) in the coming years. What does this imply for financial investors? Fantom (FTM) has a market cap of only $3 billion. This is less than 1% of Ethereum’s (ETH) $365 billion market cap.
However, as demand for Fantom (FTM) powered software and services grows, so will demand for the FTM, pushing its price higher. And, based on its current price, investors would see a 120-fold return if its market cap reached that of Ethereum (ETH).
FIREPIN Token (FRPN)
FIREPIN Token (FRPN) is an up and coming crypto created especially for the Metaverse that enables transactions to be completed quickly and cheaply by utilising the most efficient blockchain at the appropriate time.
It has enjoyed an impressive early-stage success, with a return of more than 150% for investors, since its highly anticipated presale, which began in late February – and it has all the right properties to transform the crypto market.
This metaverse-based token aims to solve a major problem in the crypto industry by providing a multi-chain solution, as well as a community-driven system centred on the Metaverse-based gaming industry, NFT games, and 3D technologies.
It comes at a critical juncture in Web 3.0 history, as Facebook changed its name to Meta in October of last year to reflect its new focus, whilst many other businesses and individuals are now looking for more decentralised cryptos to invest in.
The value of FIREPIN Token (FRPN) has risen 285% since the presale started, and continues to surge, with a further 96% value increase in one week alone, as the token strives to become the leading metaverse and NFT game development crypto for those who want to sell, buy, and trade virtual goods in the metaverse.
Because the project is planning to become a DAO, holders of the FIREPIN Token (FRPN) will be able to vote on how the crypto evolves and changes over time. Long-term investors are also rewarded weekly with more FRPN, thanks to the token’s reflection process which charges a 2% tax on all transactions and distributes some of it back to holders.
FIREPIN Token (FRPN) is expected to have a total supply of 100 billion tokens across all protocols, with 30 million tokens set aside for the presale, which will run until mid May – meaning this is the last chance for potential investors to get in on FIREPIN Token (FRPN) at its lowest ever price.
Verdict
Whether or not Fantom and FIREPIN Token (FRPN) surpass Ethereum (ETH) in price and popularity, they could be rewarding long-term investments.
The blockchain industry is fiercely competitive, and the crypto market is notorious for its volatility. As a result, investors might benefit from following these simple guidelines: build a diversified portfolio — a mix of stocks and cryptos is a good place to start. Also, never invest money that you could need soon.
