In the wake of the successive introduction of a new Network Upgrade, the token of the Fantom smart contract platform, FTM, was subject to 52 percent price growth.
The new “Go-Opera” upgrade to Fantom introduces a range of technological changes which make the network faster, more powerful and more confident according to a recent explanation by the Fantom Foundation.
As per 5:42 pm (UTC+1), the upgrade was revealed on Thursday. Two hours later, in a rise that left it 52% more important than the day before, the FTM coin price peaked.
The coin price has increased to $0.705069, from $0.461821 before Thursday’s improvement.
In the conventional sense, Fantom does not use a blockchain, but instead relies on Guided Acyclic Graph technologies. This enables asynchronous transaction validation, which means that users need not form a single queue for block space, as in a traditional blockchain.
The Go-Opera update allows Fantom easier to process transactions, which cut the time for confirmed transactions to 1 second, according to the Fantom Foundation. It also saves nodes time to synchronize with the network to a quarter of what it was before.
Since the beginning of 2021, Fantom’s appraisal has risen by over 4000% as coin price continued to rise to new all-time highs. On Wednesday, Hyperchain Capital invested $15 million in additional funds to the Fantom Foundation, representing a rise of 100 percent on the company’s initial investment.