Thread by @CryptoDinduz

#Fantom: Redefining Crypto Transactions with Low Gas Fees

A Thread🧵

5 Minutes Reading

1/ $FTM Family, today we’ll talk about gas fees - the bane of many a crypto user's existence.

Gas fees can be high, unpredictable, and often make using certain blockchain networks prohibitively expensive.

2/ Fantom is redefining the game with its low gas fees and revolutionary technology!

Say goodbye to expensive crypto transactions and learn how Fantom is changing the game for the better.

3/ Compared to other blockchain networks like Ethereum, Fantom's gas fees are still significantly lower.

For example, even with the recent decrease in Ethereum gas fees, they can still sometimes reach double-digit dollars, while Fantom's fees are often less than a penny. 💰

4/ Let's take a real example to see the difference.

According to recent data, the average on-chain fees on Ethereum have decreased to around $3 per transaction.

5/ Now, let's compare that to the same transaction on Fantom.

The average gas fee on Fantom is currently around 0.000025 FTM, or $0.0000115 at current prices.

6/ As you can see, the difference in gas fees is still significant.

With $ETH, you would be paying around $3 just to transfer tokens, while with $FTM, you would be paying less than 0.0012 cents for the same transaction. 💸

7/ Fantom is able to achieve such low gas fees thanks to its unique consensus mechanism, which uses a combination of Proof of Stake (PoS) and Directed Acyclic Graph (DAG) technology. 🤖

8/ Additionally, Fantom has implemented a fee structure that is designed to encourage efficient use of network resources, while discouraging spam or other malicious activities.

9/ But that's not all! Fantom has also introduced a new initiative to incentivize dApp developers to adopt its platform - the DApp Gas Monetization Program. 💡

fantom.foundation/blog/dapp-gas-…

10/ This program not only benefits developers by providing them with a new revenue stream, but also benefits users by encouraging the development of high-quality, low-cost dApps on the Fantom platform. 💻

11/ Plus, Fantom has launched its Ecosystem Vault, a new feature that allows users to fund new projects and initiatives on the platform. 🌟
fantom.foundation/blog/ecosystem…

12/ By contributing to the Ecosystem Vault, users can help support the development of new dApps, tools, and other projects that will help grow the Fantom ecosystem even further. 🚀

Already more than 140K $FTM have been stored into the vault, ready to be used!

13/ And since Fantom has such low gas fees compared to other blockchain networks like Ethereum, contributing to the Ecosystem Vault is a much more cost-effective way to support the platform. 💰

14/ So what does this mean for you, the crypto user?

It means that you have the opportunity to directly support the growth and development of the Fantom ecosystem, while enjoying faster, cheaper, and more reliable transactions on the platform. 🌐

In summary, if you're tired of high gas fees and looking for a better alternative, give Fantom a try.

With its innovative technology, efficient fee structure, growing ecosystem, and new Ecosystem Vault feature, it's quickly becoming one of the most promising and user friendly blockchain platforms out there. 🤝

Tagging some Fantom Experts who might enjoy this thread, lmk what you think guys!🙏

@Fantom_Intern

@NickDrakon

@verticalblocks

@CharlieXDeFi

@FantomTalk

@crypthoem

@juanaxyz00

@Tweak896

@DoubleyouW3

@AndreCronjeTech

@theotherpomp

That's all for today guys!

This Thread took me a lot of hours of work so i'd really appreciate, if you learned anything valuable, to follow these simple steps:

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