In this video by Crypt Busy, Tom introduces viewers to Phantom (FTM), a layer one blockchain with proof of stake consensus and scalability. FTM is also EVN-compatible and has its own utility token used for fees, processing payments, governance, and staking. The video covers FTM’s ranking, all-time high, and price predictions, noting that while FTM has increased 3x this year, corrections are possible and the gaming sector is helping drive its price. Tom also mentions FTM’s focus on expanding its dApp ecosystem by 2023 and the importance of delivering on promises to gain trust.
Hey everyone, how are you all doing? It’s Tom here from Crypt busy and in today’s video, we’re going to explore Phantom, also known as FTM. We’re going to delve into the project, the token, and where it’s headed next. Additionally, I’ll provide some price predictions.
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The Introduction of Phantom
Phantom is a layer one that uses proof-of-stake consensus. A significant move for Ethereum last year was to shift from proof-of-work to proof-of-stake. Proof-of-stake is much more energy-efficient and environmentally friendly. Phantom is also scalable, which is important for any project seeking adoption.
EVM-compatible and More
Phantom is EVM-compatible, and examples of other EVM-compatible projects include Avalanche, Tron, Cardano, and Polygon, all of which we’ve covered on this channel. The FTM token is used as an utility token for the Phantom Network, utilized for fees processing, payments, governance, and staking. Phantom states that money transfers take around one second and cost almost nothing.
The Price and Token
Presently ranked at number 40, Phantom is trading around $0.57 cents to $0.60 cents, with an all-time high of $3.00. I think that the token has the potential to reach its all-time high; not next week or next month, but it will happen in the next bull run scenario. It might take a couple of years before that happens.
Entering the Gaming Industry
Phantom is also entering the gaming industry. The next generation of gaming is being built today on the Phantom Network, and the esports industry is worth billions. The project is up against some hurdles in deploying the network, announcing further partnerships, and encouraging more people to adopt it.
In 2023, Phantom will focus on expanding its DApp ecosystem, which will be a big thing. A roadmap or a promise is a big deal because it’s a test of trust. If the project team can deliver on their promises, they gain trust and build reliable connections. Further scalability, speed, and security measures are also needed to keep up with the competition.
To learn more about the Phantom project, refer to the articles and links provided in the video’s description below.