Fantom vs. Avalanche: Potential Ethereum Killers
One must look deep into their goals and purposes to understand the main differences between Fantom (FTM) and Avalanche (AVAX). While Fantom seeks to offer a decentralized system that powers future smart cities and Web applications, Avalanche is a well-known multi-chain DeFi ecosystem. These projects have great promise and are considered potential Ethereum killer coins with high yields, super cheap, and fast transactions. Many ETH dApps have been moved to Fantom and Avalanche.
In this article, we will explore the fundamental differences between Fantom and Avalanche and compare them on a technical level.
What is Fantom?
Fantom (FTM) is a permissionless decentralized open-source smart contract for digital assets and dApps. It was built as an alternative to Ethereum to provide lower costs and more scalability than the legacy smart contract platform. One of the unique aspects of Fantom is that users can create and use their independent networks rather than depending on the main consensus layer of Fantom. All applications built on the Fantom platform operate independently with their unique blockchain network.
How does Fantom work?
Fantom has all the requirements to build a decentralized application that thousands of users can utilize. Its unique architecture enables developers to create fast, inexpensive, and highly scalable Web3 applications. Being EVM-compatible makes porting applications from Ethereum and other significant blockchains simple.
Where can I buy Fantom crypto?
Fantom crypto tokens can be bought from crypto exchanges, including Kucoin, Binance, OKX, Kraken, and Huobi Global.
How high can Fantom go?
As the Fantom price continues to trade positively, many experts believe that the crypto can achieve a maximum of $1.51 in 2025, while the average for the year will remain around $1.04. Hence, users must explore the Fantom crypto price prediction to look for a bear market where the minimum price can reach $0.91185.
What is Avalanche?
Avalanch (AVAX) is an open-source smart contract blockchain network that provides private and public blockchain solutions with an EVM development system. It has several validators of the proof-of-stake protocol. It was created to resolve the challenges that users and developers face in the digital world. Avalanche decreases expenses and offers a more simplified experience. It is highly scalable and has great potential to climb vertically, running at 6500 TPS, making this protocol faster than other major networks.
How does Avalanche work?
Avalanche (AVAX) is an open-source blockchain platform and is one of the most significant competitors to Ethereum. It prioritizes transaction processing speed and scalability and is used to secure AVAX Blockchain to pay transaction fees across networks.
How much is Avalanche Crypto worth?
The current price of Avalanche (AVAX) is $17.22, which is 88.22% below the all-time high of $146.22.
What Problems Are Fantom and Avalanche Built to Solve?
Bitcoin (BTC) and Ethereum (ETH) are the leading cryptocurrencies that paved the way for the entire blockchain industry. However, these cryptocurrencies found it quite challenging to scale and meet the demands of their user base, i.e., called Blockchain Trilemma.
Blockchain Trilemma refers to the problem of scaling without compromising on decentralization or security. It is strongly believed that achieving a balance between decentralization, security, and scalability is quite challenging, and an equal prioritization of the three factors simultaneously is impossible.
To resolve this Blockchain Trilemma, Fantom and Avalanche were introduced to provide a steady balance of the three factors and establish a robust, decentralized, and scalable blockchain network capable of processing high volumes of complex transactions.
Fantom vs. Avalanche
Fantom (FTM) and Avalanche (AVAX) are compatible with leading wallets such as Ledger and MetaMask. Both protocols support ETH to varying degrees. They are EMV and Solidity compliant, allowing developers to build Ethereum smart contracts on both networks easily. Both Fantom and Avalanche guarantee eliminating bottlenecking by processing large numbers of transactions at lower costs. Both can handle about 4500 Transactions Per Second (TPS). Additionally, blockchain networks for both protocols can scale more effectively than other major blockchains.
As previously mentioned, Fantom and Avalanche are smart contracts, EVM-compatible blockchains. However, they significantly differ in various ways. Avalanche has more validators, which makes the network potentially more decentralized. The protocol also has a faster translation completion rate compared to Fantom. In addition, around 80% of the overall FTM supply is currently in circulation, which is much higher than the supply of AVAX. The supply of Avalanche tokens now stands at 64%.
At the time of writing, Fantom tokens rank 44 in terms of market capitalization, which is much lower than AVAX tokens. Although they are similar in terms of compliance and compatibility, there are significant differences between them. Avalanche has a 2.13 MC/TVL ratio, whereas the same for Fantom is 0.49. There is a higher probability of an asset increasing in price if the ratio is lower. According to these numbers, FTM wins this metric.
Is Fantom better than Avalanche?
While comparing Fantom and Avalanche and considering features of the two in terms of usability of coins, a perspective of projects, supported, and transaction times, users can determine which protocol suits them better depending on their requirements. Both have numerous pros and cons. For instance, Avalanche has substantially more validators, making the network more decentralized.
However, the total supply of Fantom in circulation is 80% which is quite high compared to 64% of AVAX supply. Although they are both scalable and decentralized, Fantom often wins the game with a finality period of one second. In addition, Fantom also has a fully implemented on-chain governance where token holders can take part in governing and implementing changes on the network.