Fantom (FTM) is still on the download right now, but it probably won’t stay that way for very long. Last year, the crypto’s performance was excellent, with the coin now trading at $3 from last year’s $0.02 trading value.

Fantom is similar to Solana (SOL) in that it’s a layer-1 protocol with incredible speeds, which is why it’s jumping as much as it is now. Both Fantom and Solana’s values soared in 2021 by 14,000% and 11,000%, respectively. Compared to Solana, Fantom is much smaller with its $7 billion market cap. On the other hand, Solana’s market cap is $43 billion.

There’s a possibility that this significant difference is because, unlike Fantom, you can buy and sell Solana on Coinbase, which is perhaps the biggest cryptocurrency exchange at this time. Of course, it’s not restricted to only Coinbase either, as you can buy the coin on other exchange platforms such as Gemini.

Nevertheless, many believe that Fantom will continue to outperform Solana even in 2022. With that in mind, here are some reasons why you may want to consider buying Fantom this year.


It’s Possibly the Fastest Blockchain on the Market

The crypto markets went wild over Ethereum (ETH) competitors last year. Ethereum is a powerful platform within the crypto universe. However, more and more people have become interested in crypto, causing the Ethereum network to strain a bit. The network’s “gas fees” (i.e., the cost of verifying a transaction on Ethereum’s blockchain) reached $300 at some point, which is quite a lot. Meanwhile, transacting on networks such as Fantom or Solana only costs a fraction of a penny.

You might be asking yourself, “why are the fees so cheap?” The short answer is speed. For instance, Solana can process 50,000 transactions per second, while Ethereum can only do 14 transactions per second. Although Fantom isn’t as speedy as Solana, it’s undoubtedly much faster than Ethereum.

During a test run in 2018, Fantom’s blockchain could process about 25,000 transactions per second. That said, Fantom has a pretty substantial claim to being the fastest blockchain if you consider the time to finality. This is perhaps the most important statistic to consider because that’s the moment when a transaction is considered fully validated on the blockchain. Fantom’s time to finality is only around a second, Solana’s time to finality is about 13 seconds, while Ethereum takes over a minute.

Fantom also appears to be winning the overall number of transactions on the blockchain. Fantom averaged only 4,000 transactions a day about a year ago, but now, the network averages 750,000 transactions a day. That’s a massive boost in only a year. Fantom ranks fifth in transaction amount, zooming past more prominent coins like Avalanche (AVAX).


It’s Also Compatible With Its Competitors

The blockchain universe has many challenges, and one of these challenges has to do with compatibility. You see, moving a virtual wallet from one blockchain to another can be a massive challenge, which is why many of these networks are what we call “frenemies.” After all, they’re all competing with one other, with the networks wanting to win and be better. Nevertheless, they must also find a balance to play nice and work alongside each other.

Like all the other Ethereum competitors, Fantom is also compatible with the Ethereum Virtual Machine (EVM). As such, engineers who have ample experience dealing with Ethereum can have a much easier time developing decentralized apps (dApps) for the Fantom blockchain. On the other hand, Ethereum dApps can also have a simpler time moving to the Fantom blockchain to save some money.

On the other hand, Solana differs from the rest because it’s not compatible with Ethereum. As such, the Solana blockchain is placed outside Ethereum’s universe. However, what’s even more intriguing is that Fantom is also within the Solana ecosystem. The flexibility that the Fantom blockchain shows is undoubtedly a strength, and it will surely help it stay afloat in this saturated market. It doesn’t matter whether Solana or Ethereum comes out on top because it’s compatible with both networks in Fantom’s case. In other words, it should do just fine no matter the outcome.


Big-Time Investors Are Supporting Fantom

If you’ve been following the news regarding crypto investing, then it’s highly likely that you’re familiar with the name Sam Bankman-Fried. With a net worth of $26 billion, he ranks 58 on the Forbes 400 list. In other words, he’s possibly the wealthiest crypto magnate on the list.

Bankman-Fried is known for launching the popular crypto trading exchange FTX, but he’s also one of Solana’s early investors. He once got into a fight on Twitter, as he defended Solana’s price at the time. Bankman-Fried and Twitter user CoinMamba debated over Solana’s worth, which was around $2, $2.05, and $2.38 at the time. On January 9, Bankman-Fried tweeted, saying, “I’ll buy as much SOL has you have, right now, at $3. Sell me all you want.” By the end of the year, Solana zoomed to $149, turning his tweet into a legendary one.

Aside from being an avid supporter of Solana, Bankman-Fried is also a prominent patron of Fantom. In February, his firm called the Alameda Research purchased $35 million worth of Fantom coins. This took place when the blockchain began to incorporate itself within Solana.

Although Bankman-Fried is considered the wealthiest Fantom backer, the most important one is most likely Andre Cronje. Cronje is Yearn Finance’s founder and is also one of the architects behind decentralized finance (DeFi). Cronje is Fantom’s technical adviser, so much so that he has even helped develop Fantom’s blockchain.

Not only that, Cronje has already developed a non-fungible token (NFT) marketplace on Fantom’s network. What’s even more interesting is that it’s specially made to be a direct competitor to OpenSea, which is currently the biggest NFT marketplace in the industry. He’s also working on a secret project right now, and it may be released on the blockchain sometime this year.

Given how Fantom is receiving massive support from big-time players in the crypto industry, not to mention its impressive speed and growth rates, it’s highly likely that FTM will climb even higher this year.

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