Blockchain Platform Fantom Encourages Developers to Build Real World DeFi Solutions
(Photo : Blockchain Platform Fantom Encourages Developers to Build Real World DeFi Solutions)

Developers have long-since been searching for a blockchain network that helps them optimize their work. As the DeFi space grows, it may seem as if the focus has been on all the wrong things without prioritizing what truly makes a platform the most convenient it can be for its users. The factors of high transaction speeds, low transaction fees and developer support have been missing from many of the largest blockchain networks around that developers utilize to build their programs. Thankfully, there's a new contender in the space that has prioritized meeting all those needs in order to allow their developers freedom and creativity -- Fantom.

In this article, we go over some of the ways that Fantom has tackled the issues facing developers to provide a superior developer experience and in turn, remind developers that now is the optimal time to start building on Fantom.

Helping developers build faster through high transaction speeds

On platforms like Ethereum and Bitcoin, speed is known for being abysmal and thus not creating the most efficient platforms for developers to build on. As significant as these platforms have been to helping grow the DeFi space, their technology is notably outdated compared to some newcomers. A prime example of this is Fantom. Since its founding, Fantom has been speeding past competitors as far as network speed. When building the blockchain network, speed was taken into consideration to ensure user experience is as seamless as can be. With Fantom's latest Go-Opera upgrade that just rolled out in late April, the network's performance and reliability has been further improved. It reducedthe average TTF (the time to finality, which they were already ahead of competitors for before the upgrade) to just one second. This is ideal to ensure the developers' process isn't hindered by an overly saturated network and that they can, in turn, take on more creative, challenging projects and easily and efficiently build the ecosystem.

Allowing developers more freedom through low fees

Another key to accessibility for more users and for developers are the transaction fees. Popular blockchain networks in the space today tend to not only disappoint their users with their slow transaction speeds, they also tend to dissuade others from joining the network solely due to high transaction fees. This means that with such high fees, especially with overly saturated networks that may charge higher when said networks reach capacity, developers are not really allowed the freedom to explore scalable solutions that they otherwise might. This is incredibly troublesome in the long-term. As a solution to this, the Fantom Foundation has made sure that their fees stay as low as can be to ensure that they can get more users involved.

Providing technical and financial support for developers

Fantom Foundation knows what their developers need in order to optimize their experience. This is why they ensure that developers can work on the same projects that they would on technology such as Ethereum on Fantom's Proof-of-Stake, permissionless blockchain through EVM compatibility. The same smart contracts deployed on Ethereum's network can also be deployed on Fantom. Further, Fantom is dedicated to improving the developer experience. To show appreciation for their developers, Fantom recently gave SpiritSwap and SpookySwap (after the launch, both projects are widely appreciated by the community and have secured $165 million and $45 million respectively in total value locked.) large grants to encourage further development on their platform. They also gave grants to ZooCoin because of their development of a unified DeFi ecosystem and HyperJump. HyperJump is planning on utilizing the grant for a community giveaway.

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