What Is Fantom (FTM)?

Fantom is a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using its own bespoke consensus algorithm.

Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms, specifically transaction speed, which developers say they have reduced to under two seconds.

The Fantom Foundation, which oversees the Fantom product offering, was originally created in 2018, with the launch of OPERA, Fantom’s mainnet, coming in December 2019.

Fantom is an open-source decentralized smart contract platform for DApps and digital assets that was created as an alternative to Ethereum. Fantom has the goal of overcoming the limitations of previous generation blockchains and balancing three components: scalability, security and decentralization. The project offers a set of tools to simplify the process of integrating existing DApps, as well as a detailed staking reward system and built-in DeFi instruments.

Fantom is a Layer-1 blockchain that uses a scratch-built consensus mechanism and independent consensus layer, Lachesis, to facilitate DeFi and related services on the basis of smart contracts. Lachesis provides security for other layers as well, including Opera, Fantom's EVM-compatible smart contract chain. The long-playing mission of the project is to “grant compatibility between all transaction bodies around the world.”

One of Fantom's key strengths is its performance and efficient transaction processing, namely thousands of transactions per second, where transactions are settled in 1-2 seconds, and the cost is fractions of a cent per transaction. As a result, Fantom provides higher scalability but at a lower cost.

The ecosystem is based on two main technologies: Lachesis protocol and Opera.

The Lachesis protocol is the core consensus layer that secures the Fantom network by providing both transaction speed and security.

Lachesis is an aBFT consensus engine that uses a directed acyclic graph (DAG) algorithm. How it works: network data can be processed at different times, and the network filters the participants, allowing only one third, which are allocated due to erroneous or malicious behavior, without compromising network processes.

Fantom's Asynchronous Byzantine Fault Tolerant (aBFT) Proof-of-Stake (PoS) consensus mechanism maintains the efficiency of the entire network, its design provides security at maximum speed. Fantom developers emphasize that the PoS mechanism is a leaderless phenomenon — there are no leaders of blocks and participants, and anyone can join (or leave) the network of nodes at a convenient moment.

The key qualities of Lachesis are: asynchronous, leaderless, Byzantine fault-tolerant, and near-instant finality.

As for Opera, it's an application development layer or Fantom's mainnet deployment platform, permissionless and open-source hosting DApps. Thanks to EVM integration and support for the Solidity programming language, Fantom has a full set of smart contract capabilities, which allows users to seamlessly interact with Ethereum platforms while maintaining the advantage of Fantom's transaction efficiency.

The Fantom Foundation concluded that removing block leaders improves network security, so Opera uses a PoS model and leaderless validators (validators do not determine which blocks are valid).

In addition to being a fast, secure and cheap payment platform that enables to make fast and secure payments at minimal cost, Fantom also features on-chain governance where users vote with FTM tokens (one token equals one vote). Of the features: users have the right to express the degree of agreement / disagreement on a scale from 0 to 4.

FTM is the native utility in-house PoS token of Fantom that powers the ecosystem and is applied for payments, network fees, staking, and governance. FTM forms the backbone of transactions, and allows fee collection and staking activities, along with the user rewards the latter represents.

Who Are the Founders of Fantom?

The Fantom Foundation was founded by South Korean computer scientist Dr. Ahn Byung Ik. Currently, the platform’s CEO is Michael Kong.

The team behind Fantom has extensive experience primarily in the field of full-stack blockchain development, and aimed to create a smart contract platform which privileges scalability, decentralization and security.

According to its official website, Fantom’s team also consists of specialist engineers, scientists, researchers, designers and entrepreneurs. Employees are located throughout the world, matching the ethos of a distributed platform.

What Makes Fantom Unique?

Fantom attempts to use a new scratch-built consensus mechanism to facilitate DeFi and related services on the basis of smart contracts.

The mechanism, Lachesis, promises much higher capacity and two-second transaction finalization, along with improvements to security over traditional proof-of-stake (PoS) algorithm-based platforms.

Matching Ethereum, the project appeals to developers looking to deploy decentralized solutions. According to its official literature, its mission is to “grant compatibility between all transaction bodies around the world.”

Its in-house PoS token, FTM, forms the backbone of transactions, and allows fee collection and staking activities, along with the user rewards the latter represents.

Through token sales in 2018, Fantom raised almost $40 million to fund development.

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According to Tether's CTO Paolo Ardoino, the company is using the power of Bitcoin and Uruguay's renewable energy capabilities to pioneer sustainable and responsible Bitcoin mining:

“Our unwavering commitment to renewable energy ensures that every Bitcoin we mine leaves a minimal ecological footprint while maintaining the security and integrity of the Bitcoin network. Tether is proud to lead a movement that combines cutting-edge technology, sustainable practices and financial innovation.”

Tether is also preparing to in renewable energy sources to support and promote sustainable Bitcoin mining, which is an essential component in maintaining the world's most robust and secure currency network.

To achieve this goal, the company reported that it is actively trying to strengthen its team by recruiting experts in the energy sector.

Uruguay stands out as a global leader in renewable energy, with 94% of its electricity production from renewable sources, primarily wind and solar power. With abundant natural resources, Uruguay offers ideal conditions for renewable energy generation, facilitating the establishment of wind farms, solar parks and hydroelectric projects, ensuring a consistent supply of clean and environmentally friendly energy.

According to the statement from the Tether official blog, this solid foundation provides an excellent platform for Tether to start its Bitcoin mining operations, providing efficient and sustainable operations.

Tether also holds $1.5 billion worth of Bitcoin as part of its reserve assets and plans to invest 15% of its profits in Bitcoin as part of its new investment strategy.

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Polygon (Matic) announced a significant development over the weekend, which was revealed yesterday. The announcement stated that there would be substantial changes on the network with a major update called Polygon 2.0. The discussion also opened up the possibility of launching a new token as part of the plan, which would include changes to Matic.

In the official statement, it was mentioned that the Matic token economy would be altered. It was shared that an announcement regarding Polygon 2.0 would be made every Monday, and July 10th was indicated as the date for the Matic update.

Following the statements about Polygon 2.0, there has been speculation about developers potentially releasing a new token. Market analysts pointed out that developers could distribute a new Matic with Polygon 2.0 to avoid the security classification by the SEC. However, no official information regarding this matter has been provided in the announcements.

As it is known, the SEC classified Matic as a security last week. After this classification for the native crypto asset of the Layer 2 project, Matic experienced a sharp decline.

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In a surprising turn of events, Emrah Şener, a high-ranking official at the Central Bank, has reportedly submitted his resignation. The news has sent shockwaves through the financial industry, leading to speculation and discussions about the reasons behind his decision. This article delves into Emrah Şener's statement from Saray and examines the potential implications of his resignation on the Central Bank and the broader economy.

The Resignation Announcement:

Emrah Şener's resignation has been a topic of intense interest and speculation. The respected Central Bank official, known for his expertise in monetary policy and economic affairs, released a statement from Saray, citing personal reasons for his unexpected decision. The news has surprised many within the financial sector, given Şener's pivotal role in shaping monetary policies and his contributions to the Central Bank's operations.

Implications for the Central Bank:

Emrah Şener's departure raises concerns about the Central Bank's stability and the potential impact on its decision-making processes. As a prominent figure in the institution, Şener's resignation could lead to a temporary void in leadership and disrupt ongoing initiatives. The Central Bank will need to navigate this transition period carefully to maintain its credibility and ensure a smooth continuation of its responsibilities.

Market Reaction and Investor Confidence:

News of Şener's resignation has reverberated throughout the financial markets, prompting investors and market participants to reassess their positions. Uncertainty surrounding the Central Bank's leadership can lead to fluctuations in investor confidence and market volatility. Market participants will closely monitor the developments and announcements from the Central Bank in the coming days to gauge the impact on the broader economy.

Future Direction of Monetary Policy:

Emrah Şener's departure may also influence the future direction of monetary policy in the country. As a key decision-maker, his absence could potentially alter the balance of views within the Central Bank's monetary policy committee. The appointment of a new official to fill the vacancy will play a crucial role in shaping the Bank's future policy decisions and market expectations.

Government Response and Stability:

The government's response to Emrah Şener's resignation will be closely watched by market participants and the public alike. Ensuring stability and maintaining confidence in the Central Bank's independence are paramount in these circumstances. The government's commitment to maintaining a transparent and consistent monetary policy framework will be critical in reassuring both domestic and international stakeholders.

Emrah Şener's unexpected resignation from the Central Bank has created a sense of uncertainty and intrigue in the financial landscape. As the news reverberates through the markets, market participants will closely monitor the implications for the Central Bank's operations, monetary policy decisions, and investor confidence. The coming days will shed further light on the implications of Şener's departure and the steps taken by the government and the Central Bank to ensure stability and continuity in the financial system.

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What is Double Bottom in Trading ?

Double #Bottom is a technical chart pattern commonly used in trading analysis considered as #bullish reversal pattern that forms after a #downtrend, indicating that the market may be ready to #reverse its direction.

The pattern forms when the price reaches a low point, then #rebounds, and then declines again to the same low point as before. However, it fails to break through this level and rebounds again, forming a #second bottom at the same price level. The two bottoms are usually connected by a line, forming a horizontal #support level.

This pattern signals that the selling #momentum has been exhausted, and the bulls/ buyers are #gaining control of the market. #Traders who recognize this pattern may look to buy or go long, betting on a potential #price increase.

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What is Falling Wedge Pattern ?

The Falling Wedge pattern is a commonly observed technical analysis chart pattern. It is similar to the rising wedge pattern but in the opposite direction and scenarios.

The Falling Wedge pattern suggests a potential bullish reversal in a downtrend. It is characterized by contracting price ranges and diminishing trading volumes. Traders interpret this pattern as a sign of diminishing selling pressure, as the price consolidates within the narrowing wedge.

Typically, the price eventually breaks above the upper trendline/ Diagonal Resistance line of the Falling Wedge, indicating a potential upward breakout. This breakout is often accompanied by increased buying interest and can lead to a significant price rally.

While the Falling Wedge pattern can offer valuable insights into potential market reversals, it is crucial to consider other technical indicators and fundamental factors before making trading decisions.

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Fiyatların düşmesiyle balinalar son yedi günde 94 milyon dolar değerinde ETH biriktirdi. Büyük ether yatırımcıları düşen fiyatları fırsat olarak görerek varlıklarını artırdı. Toplamda dört balina bu hareketi gerçekleştirdi. Balinalar, kripto piyasasında büyük etkiye sahip oyunculardır ve alım-satım faaliyetleriyle piyasaları etkileyebilirler. Aynı şekilde, bitcoin yatırımcıları da düşük fiyatları değerlendirerek varlıklarını artırdılar. 17 Ağustos'tan bu yana 10 ila 10 bin BTC arasında tutan cüzdan sahipleri toplamda 309 milyon dolarlık BTC eklediler.

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Bitcoin Ordinals, a leading cryptocurrency exchange catering to institutional and retail investors, has witnessed a significant surge in trading volumes during the second quarter (Q2) of the year. The platform's robust performance and the increasing market interest in Bitcoin have contributed to a staggering $210 million in trading volumes, reflecting a growing demand for digital assets among investors. This article delves into the factors driving the surge in Bitcoin Ordinals' trading volumes, the implications for the cryptocurrency market, and the potential outlook for the future.

Rising Institutional Interest: Institutional investors have played a pivotal role in driving the increased trading volumes on Bitcoin Ordinals. As more traditional financial institutions, hedge funds, and asset managers recognize the value and potential of cryptocurrencies, they are allocating a portion of their portfolios to Bitcoin. The influx of institutional capital has bolstered trading volumes, bringing a higher level of liquidity to the market and attracting retail investors seeking to capitalize on the upward momentum.

Market Confidence and Stability: The growing trading volumes on Bitcoin Ordinals indicate an increasing level of market confidence and stability in the cryptocurrency space. As Bitcoin matures as an asset class, investors are gaining more confidence in its long-term viability and the potential for substantial returns. The recent price stability and the gradual acceptance of cryptocurrencies by regulators and financial institutions have also contributed to a more secure trading environment, attracting both new and seasoned traders to the platform.

Expansion of Trading Services: Bitcoin Ordinals' success can also be attributed to its efforts to expand its trading services and provide a seamless user experience. The platform has introduced innovative features, such as advanced order types, margin trading, and staking opportunities, which cater to the diverse needs of traders. By offering a comprehensive suite of trading tools and services, Bitcoin Ordinals has attracted a wide range of investors, further driving trading volumes.

Market Volatility and Trading Opportunities: The inherent volatility of the cryptocurrency market presents trading opportunities for active traders and investors. Bitcoin's price fluctuations, combined with its reputation as a store of value and potential hedge against inflation, make it an attractive asset for speculative trading. Traders on Bitcoin Ordinals capitalize on short-term price movements, engaging in active trading strategies that contribute to higher trading volumes.

Global Market Awareness: Increased media coverage and widespread adoption of cryptocurrencies have led to greater awareness and interest among individuals worldwide. The global market awareness of Bitcoin as a transformative technology and an investment asset has resulted in an influx of new users joining platforms like Bitcoin Ordinals. This growing interest from a diverse range of market participants has further fueled trading volumes on the platform.

Future Outlook: The surge in Bitcoin Ordinals' trading volumes signifies the continued growth and maturation of the cryptocurrency market. As digital assets gain wider acceptance and institutional adoption expands, trading volumes are likely to continue to rise. The ongoing development of regulatory frameworks, advancements in technology, and the entrance of new players into the market are expected to drive further growth and attract more participants.

Bitcoin Ordinals' trading volumes reaching $210 million in Q2 demonstrates the increasing interest and participation of investors in the cryptocurrency market. The surge in volumes is a testament to the growing confidence in Bitcoin as a viable investment asset and the increasing presence of institutional players. As the market continues to evolve and mature, exchanges like Bitcoin Ordinals play a vital role in facilitating secure and efficient trading experiences. The robust trading volumes not only reflect the rising market demand but also indicate a positive outlook for the future of cryptocurrencies, as they become increasingly integrated into the global financial sys tem.

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Coinbase, one of the leading cryptocurrency exchanges, has recently come under scrutiny as allegations arise suggesting that the company knowingly violated securities laws. The U.S. Securities and Exchange Commission (SEC) has accused Coinbase of engaging in unlawful activities related to its cryptocurrency lending program. In this article, we delve into the details of the SEC's allegations and examine the potential implications for Coinbase and the broader crypto industry.

The SEC's Allegations: The SEC alleges that Coinbase's lending program, known as "Lend," qualifies as a security under U.S. securities laws. According to the SEC, Coinbase planned to offer Lend as an investment opportunity, promising users a fixed interest rate on their digital assets. However, the SEC argues that Coinbase failed to register the Lend program as a security offering, violating securities regulations.

Coinbase's Response: In response to the SEC's allegations, Coinbase has publicly disputed the SEC's characterization of Lend as a security. The company argues that Lend is a product that allows users to lend their digital assets and earn interest, similar to many other lending platforms in the traditional finance space. Coinbase contends that the SEC's position is unclear and lacks regulatory clarity, creating challenges for companies seeking to innovate within the crypto industry.

Regulatory Uncertainty: The allegations against Coinbase highlight the ongoing challenges and regulatory uncertainties faced by cryptocurrency exchanges and companies operating in the digital asset space. The classification of various crypto products and services under existing securities laws remains a point of contention, with regulators striving to strike a balance between investor protection and fostering innovation.

Potential Implications: The outcome of the Coinbase-SEC dispute could have far-reaching implications for the crypto industry:

a. Legal Precedent: The resolution of this case could set a legal precedent for how other lending or yield-generating crypto products are regulated in the United States. It may shape future regulatory frameworks and impact how exchanges and platforms structure their offerings.

b. Investor Protection: The SEC's actions reflect its commitment to safeguarding investors and ensuring compliance with securities laws. The outcome of this case could establish guidelines and requirements for similar lending programs, offering more clarity and protection for investors in the crypto space.

c. Industry Adaptation: Regulatory scrutiny and enforcement actions prompt companies to reassess their operations and compliance practices. The outcome of this case could lead to enhanced compliance measures and improved industry standards, fostering long-term growth and credibility within the crypto market.

Coinbase's alleged violation of securities laws, as claimed by the SEC, highlights the challenges faced by cryptocurrency companies in navigating complex regulatory landscapes. The case underscores the need for clear regulatory frameworks that strike the right balance between investor protection and fostering innovation in the rapidly evolving crypto industry. As the legal proceedings unfold, the outcome will have significant implications for how lending and other yield-generating crypto products are regulated in the United States. It is imperative for companies to collaborate with regulators and proactively engage in constructive dialogue to establish a transparent and compliant framework that promotes the long-term growth and stability of the cryptocurrency ecosys tem.

 

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The cryptocurrency market is known for its volatility and occasional moments of uncertainty. In a recent turn of events, Multichain, a prominent blockchain platform, has faced a significant setback as a staggering $126 million worth of assets abruptly exited the network. This sudden exit has sent shockwaves through the crypto community, raising concerns about the platform's security, stability, and the broader implications for investors and the cryptocurrency ecosys tem. In this article, we delve into the details of the alarming situation, its potential causes, and the consequences for Multichain and its users.

The Massive Exit: Multichain recently experienced an unprecedented exodus of funds, totaling $126 million. The sudden withdrawal has left many investors and users stunned, questioning the platform's integrity and security measures. The extent of the impact on individual investors varies, with some experiencing substantial losses and others facing uncertainties regarding the future of their holdings.

Possible Causes: While the exact causes behind the massive exit from Multichain remain unclear, several theories and speculations have emerged within the crypto community. Some attribute the exodus to security vulnerabilities or concerns regarding the platform's infrastructure. Others speculate that it may be related to internal conflicts, regulatory pressures, or even a deliberate act by a group or individual seeking to disrupt the platform's operations.

Repercussions for Multichain: The significant exit of funds raises questions about Multichain's ability to maintain user trust and confidence. The platform will likely face scrutiny from regulators and investors, necessitating a transparent and thorough investigation into the circumstances surrounding the incident. Rebuilding trust and restoring the platform's reputation will be paramount for Multichain's future viability and success.

Impact on Investors: The large-scale withdrawal from Multichain has directly impacted the investors involved. Those who had assets on the platform now face potential financial losses and uncertainty. The incident serves as a reminder of the risks associated with cryptocurrency investments and the need for users to conduct thorough due diligence when choosing platforms to entrust their funds.

Lessons for the Crypto Community: The Multichain incident serves as a wake-up call for the broader cryptocurrency community, highlighting the importance of robust security measures, transparency, and investor protection. It reinforces the need for thorough audits, regular risk assessments, and improved governance frameworks to safeguard users' assets and maintain market confidence.

Strengthening Security Measures: Following this incident, it is crucial for blockchain platforms and cryptocurrency exchanges to reevaluate their security protocols and bolster their defenses against potential vulnerabilities. Implementing comprehensive security measures, such as multi-factor authentication, robust encryption, and regular audits, can help mitigate risks and enhance the overall security of the ecosys tem.

The recent $126 million exit from Multichain has sent shockwaves through the cryptocurrency community, highlighting the fragility and risks associated with the industry. This incident serves as a reminder of the importance of maintaining robust security measures, conducting thorough due diligence, and fostering transparency in the crypto space. It is essential for platforms, investors, and regulators to collaborate in strengthening the integrity of the ecosys tem to ensure the long-term sustainability and growth of the cryptocurrency market.

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