Blockchain & Crypto

Fantom improves network’s speed after an 3,800% upsurge in unique wallet

The daily transactions processed have seen an increase of 15,460%.

Fantom improves network’s speed after an 3,800% upsurge in unique wallet. Source: shutterstock.com

According to Fintech Times, Blockchain platform Fantom has announced an update of its network since the platform is seeing unprecedented growth in new users.

If the upgrade is successful, the network calculations and platform performance will increase manifold and it will be the catalyst for even greater scalability and reach. Over the past year alone, the number of unique addresses on the Fantom network has increased by 3,800% leading to new users and extensive interest in the Web3 space.

It will be a catalyst for companies to adopt and integrate centralized technology. Such corporations as Square and Paypal have been integrating crypto technologies into their various products for years —  Walmart and Amazon are hiring crypto inspectors to shed light on blockchain strategies.

According to Phantom CEO Michael Kong, the company strives to have the most functional and user-friendly platform, so a network upgrade was inevitable.

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