Fantom has begun working with RenVM mulling over the use of their technology which supports cross-chain functionality. This indicates a gigantically basic advancement in Fantom’s infrastructure, which grants currencies from other blockchains to be exchanged on their blockchain too. Integrating these new currencies licenses Fantom to use them as well and brings a stable, secure trading platform to their technology.
Fantom makes a good decision
Advanced cash exchanges exist chiefly in isolation blockchain networks and they are not as easily exchanged between tokens that exist in another blockchain. With the mix of RenVM bridge, Fantom’s as of now celebrated DeFi ecosystem can finish second exchange between much more major between chain cryptographic types of cash. By utilizing the developing space of Fantom’s blockchain network they can maintain an immense number of transactions occurring simultaneously between tokens from different blockchains, between users. This will open up Fantom not likewise as a developer platform that gives awesome speed and fees yet as an overall trade broker among investors and spenders too.
Direct usage of BTC, BCH, etc avoids the extended process and exchange fees for having crypto exchanged using different platforms. Fantom streamlines the process and the exchange will be nearly second. This has also opened the doorway for Fantom to expect new projects and assets to help this development. Because of RenBridge, Bitcoin, Zcash, Bitcoin Cash and Dogecoin, the more well known cryptocurrencies accessible, will be maintained on Fantom, with additional compromise of more tokens to follow as RenVM adds support for them. Fantom’s open-source, decentralized network is uncommonly inviting for these new progressed currencies and licenses users to keep their assets in their own wallets and not in centralized exchanges.
This undertaking furthermore interfaces Fantom to other established blockchain applications dependent on scattering and straightforwardness of power over electronic assets. More RenVM consolidated platforms will really need to connect with Fantom’s stretching out blockchain network to allow speedier communication and more secure peer-to-peer sales and connections. For Fantom, this course of action invites them into comparable set-up of employments and established projects which handle high volume blockchain activity, allowing its network to end up being more versatile while moreover integrating cryptocurrencies from other blockchains to its overview of helpful assets. Fantom Foundation attempts to make the best blockchain solutions for all issues, including trading, accessible for the whole world.