Fantom Gives Out Grants to Support Blockchain Developers Building on Opera

May 8, 2021 0 Comments

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In order to encourage developers to join and build on their platform, Fantom Foundation has taken quite a few steps to ensure that developers will be comfortable creating within the platform and that issues of the past will not be a roadblock with their work on Fantom. The most notable stride has been Fantom’s recent encouragement of current developers on the platform through their grant donation to show appreciation and support the amazing work that these developers are doing on Fantom.

Supporting developers through grants

The most recent manner through which Fantom has shown its dedication to ensuring the best developer experience possible was through its generous grants to those that are helping Fantom grow to where it is today. After all, Fantom currently has over 77,000 Fantom wallets (a 70% month-over-month increase) and over 200,000 daily transactions.

Fantom realizes just how much work these developers are putting in to help make this happen, and they recently showcased their appreciation and support of their work through giving SpiritSwap and SpookySwap grants to encourage the developers to continue doing their amazing work on the platform. Both have been key drivers to the 200,000 daily transactions occurring on Fantom. Further grants by the Fantom Foundation were given to ZooCoin due to their development of a unified DeFi ecosystem and HyperJump. HyperJump plans on utilizing the grant for a community giveaway that will greatly benefit Fantom’s user base.

Developers could use a faster network

Through Fantom’s “most significant network upgrade so far”, Go-Opera (rolled out in late April) the network’s performance and reliability has been thoroughly improved. The upgrade reduced the average TTF (time to finality) to a revolutionary one second, which is something that the blockchain space has long-since been missing. Since its introduction into the space, Fantom has been quite successful in speeding past competitors in transaction processing speeds, and with this upgrade, they have managed to subvert their only competition left, which was their own previous speeds.

Further, the emission of events became far more efficient with this upgrade regardless of network conditions. Claiming rewards is far simplified and there is no restriction on when users are allowed to claim rewards. All of these small upgrades are key to making the user and, thus, developer experience as seamless as it can be on the platform.

Crosschain compatibility

Of course, developers may have current projects on Ethereum, and ensuring that developers are able to easily work on the same projects on their platform is a priority for Fantom. Ethereum is unfortunately bogged down by excessive fees as well as low transaction speeds, and Fantom provides a more efficient, low-cost solution to these troubles. To ensure that developers can easily work on the same projects while on a Proof-of-Stake, permissionless blockchain, Fantom has Ethereum Virtual Machine (EVM) compatibility, meaning that the same smart contracts deployed on Ethereum’s network can also be deployed on Fantom using the same tools as on Ethereum.

 

 

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