This Altcoin Makes a Fast Entry to 2023 with the Latest Update!

Altcoins Phantom (FTM) its price registering a big exit today Up 18.2% to $0.49 rose up.

While such large price breaks are not unusual for the digital currency, continued growth since the start of the week has opened up the possibility that FTM will set a new schedule this year.

Altcoin Phantom (FTM) Rises 18% After Expected Updates

Unlike other known digital currencies, Fantom is designed not as a regular blockchain but as a Directed Acyclic Graph (DAG) smart contract platform that provides Decentralized Finance (DeFi) services to developers using its own bespoke consensus algorithm.

The phantom protocol has become as unique as its design and even its capabilities are about to be expanded.

Director of Marketing for the protocol, which launched the Phantom Ecosystem Vault earlier this month Simone Pomposihighlighted a number of updates that will come to Fantom according to the revised roadmap.

Some of these updates are Go-Opera’s profiling and bottleneck identification, a brand new database called Carmen.

This database allows for customization and faster cryptographic hashes.

As explained by Simone, Fantom will feature a new virtual machine called Tosca, which will also increase mainnet performance by eight times and reduce storage by approximately 98%.

As a DAG, Fantom is a testament to how a non-traditional blockchain protocol can host as many functional applications or smart contracts as traditional Distributed Ledger Technologies (DLT).

Phantom has been receiving increased attention since the beginning of the year, and with these new update announcements, users say they are confident that the protocol is actively developing and keeping up with the times.

With current adoption and growth rate of Web3.0 innovation and more than 129% growth over the past 30 days, Fantom may be on track to retest new price milestones this quarter.

*Not investment advice.

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