Andre Cronje, the founder of blockchain company Fantom, has revealed the key focus areas for his business going forward. In a recent post (December 26, 2022), he expressed his company's mission to provide the highest available blockchain throughput to deliver a secure settlement layer for all decentralized activities.
According to Cronje, the role of their foundation is not to choose business verticals; rather, it is to enable a foundational layer that can facilitate all verticals. They should not focus on user verticals," said Andre Cronje in his post.
Cronje also emphasized the importance of enhancing developers by improving tools, integration, ease of use, UX development, and more. In this article, we'll explore the 12 key focus areas Cronje highlighted for Fantom in 2023.
1. Gas Monetization
Fantom plans to allow DApps to receive revenue based on the gas used, similar to how content creators on YouTube or Twitch earn revenue. This creates a sustainable long-term revenue source for DApp teams.
2. Gas Subsidies
By enabling DApp interaction without wallets that need to pay for gas fees, it allows for smoother sub-orientation, as users don't need to own or know about FTM.
3. Account Abstraction
Account abstraction means that in the future, Fantom will not differentiate between contracts and Externally Owned Accounts (EOA); everything will become a contract. Contracts can initiate transactions and pay gas, while EOAs only serve as the authority authorized to instruct the contract (wallet) to initiate an action.
4. Abstraction for Gas Fees
The development of this system allows fees to be paid with tokens other than FTM, depending on the Account Abstraction.
5. New Middleware
Middleware is the main focus of Fantom. The Ethereum Virtual Machine (EVM) is still the main obstacle. With new middleware, Fantom can overcome the physical limitations of the hardware.
6. Performance Engineering
Fantom is committed to optimizing its performance engineering until it reaches hardware throughput limits such as PebbleDB, flat storage, and more. This optimization will use tools developed by Bernhard's team and others.
7. Documentation & Training
Fantom will update documentation and training for new developers and native non-blockchain developers to create an environment for DApp builders and showcase the uniqueness of other L-1s.
In 2022, the whole business sector faced the threat of a financial crisis. However, Fantom remained in a stable position, which is very sustainable. Nevertheless, it still needs to be focused on going forward.
9. Funding
Fantom focuses on providing funding opportunities and grants for existing DApp teams without its presence. It showcases this through integrations with Gitcoin and the ecosystems funds that it has. They can still provide discretionary funds, but any funding they give should focus on the potential future revenue for the chain.
10. Marketing
Marketing is one of the challenging parts for Fantom. Still, it will continue to pursue prospects and will provide good news towards the end of Q1 or early Q2 2023.
11. Business Development
Fantom aggressively pursues prospects and will receive good news towards the end of Q1 or early Q2 2023.
12. Andre Cronje's New Role
Andre Cronje has officially been nominated and accepted a position as a member of the Board of Directors for Fantom Foundation Ltd and Fantom Operations Ltd.
With these key focus areas, Fantom looks to solidify its position as one of the top blockchain companies in the world. As of February 7, 2023, according to data from CoinMarketCap, Fantom is trading for $0.542530 with a 24-hour trading volume of $328,129,246. It saw a drop of 2.89% in a single day (07/02).
Previously, Fantom's price had trended upwards after Cronje decided to return to Fantom in December 2022, and the price of FTM increased by two percent within 24 hours back then.
With these exciting developments, it will be interesting to see how Fantom fares in the blockchain world in 2023 and beyond.
