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Welcome back to the blog. Today we will be discussing the token of the week: Fantom.
(1) Crypto Network
In the last blog, I discussed what a crypto network is. One of the reasons I think Fantom has potential in 2022 is that it has its own crypto network. This means that decentralized apps (dapps) can be built on the Fantom network. Right now there are over 80 dapps on the Fantom network. Including popular dapps like Sushi Swap, Shiba Swap, Beefy Finance, Yearn Finance, and Meta Mask.
(2) Transaction Fees
The transaction fees on the Fantom network are even cheaper than on the Bitcoin network. The average fee on the Fantom network right now is 0.000157 Fantom ($0.00007065). While the average fee on the Bitcoin network is 0.00004308 BTC ($1.907). Both of them are very cheap, however, the Fantom network is way cheaper.
(3) Transaction Speed
Just like how the Fantom network is cheaper than the Bitcoin network, the Fantom network is also faster than the Bitcoin network. Bitcoin network transactions take ten minutes on average. While the Fantom network takes less than one second for each transaction.
(4) A few more reasons
Here are 2 more small reasons why Fantom has huge potential.
(1) The Fantom market Cap is small at 5 Billion dollars, for example, the Bitcoin market cap is at 839 Billion.
(2) Right now Fantom has a volume of $781,779,501, which is over 14% of the total market cap, while Bitcoin has a volume of $22,816,605,936, which is only 2.7% of its total market cap.
Conclusion
Fantom token has its own crypto network, it already has over 80 dapps, its transaction fees are cheaper than the Bitcoin network, and the transaction speed is faster than the Bitcoin network. These are just a few reasons why Fantom will do well in 2022.
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