What is Ethereum (ETH) crypto?
Ethereum, the second-largest crypto by market capitalization, is an open-source blockchain system that has its native crypto called Ether. Ethereum (ETH) works as a crypto platform for several other cryptos and helps in the execution of decentralized smart contracts.
Vitalik Buterin, the founder of Ethereum crypto described Ethereum in 2013 on a white paper along with his co-founder and secured funding for the same in a public crowd sale in 2014. The official launch date of the Ethereum blockchain was July 30, 2015. It has undergone several updates since its launch, the recent being the London Hard Fork update.
The primary goal of Ethereum is to become the global platform for decentralized application (DApps) that would allow the programmers and coders across the globe to run and write censorship, fraud, and downtime free software. Ethereum was the pioneer of the frequently used term today in the blockchain space, smart contracts. The principal innovation of Ethereum was designed to allow the execution of smart contracts via blockchain. As described by the co-founder of Ethereum, Gavin Wood, Ethereum was designed to become “one computer for the entire planet”.
The Ethereum blockchain is capable of hosting other crypto called “tokens” through its ERC-20 standard. This is the most common use for the Ethereum platform. Ethereum coin price started at $3 while Ethereum price today stands at $3952.30. This price rise has been in six years.
Additional Read: Want to Buy Ethereum? Take a deep dive into Ethereum
What is Fantom (FTM) crypto?
Fantom is a smart contract platform deploying the directed acyclic graph (DAG) technology to provide decentralized finance (DeFi) services to developers with the help of its consensus algorithm. The native token of this platform is FTM. The primary goal of this token is to solve issues related to the transaction speed of the smart-contract platform. According to the developers, the transaction speed of the platform has been reduced to less than two seconds.
Fantom is a smart contract platform for decentralized applications (DApps) and digital assets that serve as an alternative to Ethereum. The primary aim of the Fantom protocol is to overcome the issues presented by the old blockchains without compromising security, decentralization, and scalability. The project also offers a set of tools to integrate the existing DApps and other built-in DeFi instruments. The most important strength of Fantom is to process transactions efficiently. Thousands of transactions are processed by this protocol within 1-2 seconds. If you are wondering about the grands you need to pay for this transaction, then worry not because these transactions cost less than a cent. Fantom is capable of providing higher scalability at a lower cost.
Fantom price today (March 9, 2022, 7:15 PM IST) is ₹108.05. The market capitalization of Fantom crypto at the time of writing is ₹274,996,607,930 with the current circulating supply standing at 2.55B FTM.
Key Takeaways Among Ethereum vs Fantom
The unique features of the Ethereum crypto are:
- Ethereum is the pioneer of the smart contract concept.
- Ethereum blockchain is able to host various other cryptocurrencies using its ERC-20 standard.
- Ethereum’s latest update, London hard Fork was implemented to reduce the high transaction fees and enhance its scalability.
The unique features of Fantom (FTM) are:
- Fantom uses a newly built consensus mechanism facilitating DeFi and other smart contract-based services.
- The transaction speed for the smart contract platform is only 1-2 seconds
- FTM acts as the backbone of transactions allowing staking activities as well as fee collection.
Read More: Ethereum Price Prediction 2023
Ethereum vs Fantom: Comparative Analysis
|Comparison Basis||Ethereum (ETH)||Fantom (FTM)|
|Launch date||July 30, 2015||December 2019|
|Founders||Vitalik Buterin and Gavin Wood||Dr. Ahn Byung Ik.|
|Blockchain protocol||Ethereum Blockchain||Directed acyclic Graph (DAG) technology for Fantom|
|Use case||To host various cryptos and other decentralized applications (DApps)||For faster, cheaper, and efficient transactions.|
|Circulation Supply**||119,888,260.56 ETH||2.55B FTM|
|Consensus Method||PoW but soon to move to Proof-of-stake (PoS)||Lachesis (BFT consensus algorithm)|
*All values are latest by 9 March 2022, 7:15 PM IST.
Additional Read: Fantom Price Prediction
ETH vs FTM Coin Price Trends (Monthly)
Source: Trading View
Should you buy FTM coin or Ethereum (ETH) crypto
Fantom deploys a completely new consensus mechanism that it has developed from scratch called Lachesis. This consensus mechanism of Fantom is significantly faster and more secure than the conventional proof-of-stake blockchain (PoS) protocols. This method has been deployed by Fantom to overcome the blockchain trilemma of speed, security, and decentralization. According to the trilemma, it is imposiible to optimize all the three aspects of Blockchain protocol without compromising with the other. For example, Ethereum is highly secure due to its decentralization but lacks speed. Fantom has resolved this issue using its asynchornous Byzantine Fault Tolerance (“aBFT”). This in turn increases the speed and throughput of transactions. This is one of the lacking factors in Ethereum. Due to the low transaction speed, the gas fees increases which is not cost-effective for many investors.
Apart from this, Fantom is also customizable. Multiple blockchains are connected to the consensus protocol, which helps them communicate. Ethereum is able to scale itself with the help of other blockchain protocols like Polygon (MATIC). This is another advantage of Fantom over Ethereum. Fantom is also posing a great competition to Ethereum as it’s quite popular among several decentralized exchanges such as Curve and SushiSwap. It has also been integrated into wallets such as Trust wallet, MetaMask, and Ledger.
However, Ethereum has its own perks. It is the smart contract platform on which most of the DApps have been built and its transition to proof-of-stake will eventually help it overcome the low transaction speed and high gas fees. We always recommend our readers do their due diligence before investing in any crypto asset. Before investing their hard-earned money in any crypto asset, investors must do their own research and consider factors like real-life use cases, popularity, developer team, use cases, etc.
Additional Read: Bitcoin vs Ethereum: A comparative analysis
How to Invest in Ethereum(ETH) and FTM coin
Investing in crypto is super simple, safe, and secured with CoinDCX, crypto investment app. It doesn’t matter whether you want to buy Fantom or wish to trade ethereum price today, we have got you covered.
Here are the 3 simple steps to buy your first Bitcoin or Ethereum with CoinDCX.
- Sign up on CoinDCX
- Link your bank details
- Buy Ethereum (ETH) or Fantom (FTM)
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