The only real smart contract stage Fantom (FTM) continued its resurgent rally to the song of 50% on Monday, even though a temporary network outage that watched the blockchain quit generating blocks for seven hours.
Fantom emerged one of the top 100 in the market cap rankings in January — eventually going to a 5,000% streak that spanned in late February. Since then, the coin’s bull run subsided, but its worth against the USA dollar nevertheless stands 3,434percent greater than it did on Jan. 1.
However, Fantom was subject to some brief blackout on Feb. 25, when obstruct production was stopped after 2 validators slowed the rate of emissions. The 2 validators in question represented one-third of those FTM staked on this stage.
The development team coordinated and applied a temporary patch which got the system up and running again seven hours afterwards. A recent announcement by Fantom stated:
“On Thursday, February 25 2021 in 3.04 PM UTC, Fantom Opera mainnet halted new block confirmations, which caused a temporary outage. The core developer group and Fantom validator community immediately reacted and successfully resumed the system in seven hours.”
The fix took the validity of 39 validators in numerous time-zones, and the development group notes that no staked funds were in danger through the outage.
In reaction to this incident, the development group chose to tackle the imbalance of power one of validators and will attempt to spread impact more evenly among nodes. To achieve this goal, the quantity of FTM required to set up a validator node is going to be reduced from its current prohibitive figure of 3,175,000 FTM.
In January, this equated to a dollar worth of just over $30,000. Now, following Fantom’s current surge, that figure stands $1.8 million.
Fantom’s recent explosion has been credited to developments made in the domain of interoperability and decentralized finance. The job was recently integrated into Multichain.xyz — a decentralized token swap protocol which bridges disparate blockchains like Ethereum and Binance Smart Chain, and enables token swaps without any intermediary.
On Monday afternoon, Fantom’s ascension continued, since the coin prices increased from $0.3827 to $0.58, equating to 54% growth by time of publication.