These blockchain scalability coins are the future: Fantom, NEAR Protocol, Quitriam Finance

2021 was the year of the cryptocurrency. Society has become familiar with these complicated financial instruments and some have made a lot of money from them.

scalability refers to a blockchain’s ability to remain fast, efficient, and inexpensive as its user base grows over time. Lots of big ones blockchainssuch as Bitcoin (BTC) or Ethereum (ETH)have shown difficulties in coping with the massive influx of new users and have therefore become slower and more expensive for users.

The world of cryptocurrency is constantly evolving and revolutionizing itself, and scalability has become one of the hottest challenges for space projects. In a way, the crypto world follows the laws of natural selection very closely: only the scalable projects have a chance to survive in the long term.

So, without further ado, let’s look at three projects working on blockchain scalability!

Phantom (FTM)

phantom (FTM) has become one of the most discussed altcoins in recent months, particularly due to the high transaction speed it allowed and negligible gas charges required to use its network.

phantom The transaction speed of the network is made possible in part by the use of Proof of Stake (PoS) consensus mechanism instead of the more traditional one Proof of Work (PoW)used in particular by the Bitcoin and Ethereum Networks.

The PoS consensus mechanism offers a number of advantages compared to PoW, most notably that it is significantly faster and uses much less energy than the PoW method, all while maintaining the same level of security for network users.

Let’s not forget that cryptocurrencies have been heavily criticized for their high energy consumption BitcoinThe electricity consumption of China in 2021 will exceed that of actual countries like Argentina. The environmental question is therefore crucial and Fantom was able to provide a solid answer.

This is the Fantom network can easily handle 10,000 transactions per second, and the development team has set a goal for the network to handle up to 300,000 TPS in the years to come.

phantom is thus much faster than Ethereum and its 15 TPS. Also, Fantom’s Ethereum-compatible ecosystem allows Ethereum-based developers to easily port and evolve their decentralized applications (dapps) on the Fantom ecosystem FTM an all the more interesting coin to add to your watch list.

NEAR protocol (NEAR)

NEAR protocol (NEAR) is a very interesting initiative that has received slightly less attention than Fantom, although it shows just as much if not more promise than the latter.

NEAR protocol uses a concept called sharding, which refers to when a blockchain is divided into different fragments, so-called shards, in order to distribute the amount of data between them. These shards are then able to process their own data autonomously, keeping the entire network fast and efficient despite a growing user base and transactions.

sharding technology of the NEAR protocol nightshadedisrupted the market and now enables the NEAR network to process a record 100,000 TPS, making it one of the fastest blockchain currently on the market together with Solana (SOL).

And indeed, after seeing the meteoric price increase, SOL is the sixth largest cryptocurrency With a market cap approaching $40 billion, it’s easy to imagine NEAR Protocol following a similar path with its industry-leading sharding technology and transaction speed.

Next to the NEAR protocol The team announced last Wednesday it had raised an additional $350 million in a new round of funding, cementing its credibility with institutional and institutional companies retail investor – Keep an eye on these!

Quitriam Finance (QTM)

Quitriam Finance (QTM) is another initiative focused on the challenge blockchain scalability.

Instead of resorting to sharding, Quitriam Finance chose a different way to approach this challenge. In fact, the Quitriam Finance team is developing a multichain decentralized exchange that will be deployed on multiple blockchains so that investors can always access the best transaction speeds and gas fees.

According to Quitriam Finance’s white paper, this strategy could allow their ecosystem to process up to 50,000 TPS – quite a feat if confirmed!

In addition, the Quitriam Finance The ecosystem will include other interesting initiatives, notably staking and yield farming solutions, a lending protocol, an NFT marketplace, and even its own stablecoin under the ticker MC.

The launch of the Quitriam Finance token, QTM, is powered by BoostX, a new and dynamic cryptocurrency launchpad that aims to help emerging projects achieve a successful go-to-market. Although only recently founded, BoostX already has an interesting track record and has been involved in the launch and pre-sale of about a dozen Initial Coin Offerings (ICOs) projects.

This certainly bodes well for Quitriam Finance’s own trading debut which should take place in the coming weeks, mark the date!

Find out more about Quitriam Finance

Website: https://quitriam.io/

Presale: http://presale.quitriam.io/

Instagram: https://www.instagram.com/quitriam_finance

Twitter: https://twitter.com/quitriamfinance

Telegram: https://t.me/QUITRIAMFINANCEOFFICIAL

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