On Sunday 6 March Andre Cronje and Anton Nell announced they are “closing their chapter in DeFi development” which sent shockwaves through the crypto world. But what does that mean to the Fantom foundation?
Fear Uncertainty and Doubt
The social networks are awash with FUD following the tweet by @AntonNellCrypto on Sunday. Andre would not be the first to leave crypto and it’s easy to understand why many have left. There is a great deal of rudeness and arrogance in the scene with many investors treating the blockchain devs with a great deal of disrespect and disregard for what they are trying to build. The cryptocurrency world is more than just a chance to make money, for many developers its about changing the world for the better, for taking away power from the centralized banking corporations and giving it back to the people. Yes, Andre Cronje is a prolific developer and everyone in crypto is sad to see him pull out but one man does not make a kingdom.
Fantom is a community not an individual
The Fantom foundation has, in it’s comparatively short lifespan, brought several major developments to the blockchain that got many people very excited. I won’t harp on too much about it and if you’re not familiar with Fantom yet, read the Fantom Opera Network article to increase your crypto knowledge on this Layer one blockchain. They managed to overcome the blockchain trilemma by creating a network that has bank level security, is fully decentralized and offers super highspeed transaction rates. Lachesis, Fantoms Asynchronous Byzantine Fault Tolerance, is at the heart of this and that remains, even with Andre Cronje out of the picture.
Many adopting Fantom
Because of all the cutting edge tech that the Fantom network brings many have flocked to this layer one blockchain. From NFT’s and Games to Defi and Dao. There is no arguing the presence of a community and after all said and done a blockchain or perhaps a more fitting term, a network, is as strong as it’s members and their numbers keep growing.
Conclusion
Day traders may be a little peeved by the charts and many paper hands have fled but it is my humble opinion that we have not seen the end of the Fantom foundation. I believe there will be a great deal more joining the ranks of Fantom network adopters and with them the coin itself will recover strength. But please do not take my word for it, DYOR.
Disclaimer
Please note that I am giving you information as a crypto enthusiast, excited by new developments and competitiveness that helps push development. This should not be taken as financial advice and remember to always (DYOR) do your own research before investing in anything. Read the article on Crypto Slang to further your own knowledge of the terms you may hear during your adventures in crypto.