Fantom Foundation reacts to unjustified transmission of cryptocurrency resources and calls alternative bridging protocols

Fantom Foundation reacts to unjustified transmission of cryptocurrency resources and calls alternative bridging protocols

The Fantom Foundation has reacted to the concerns that have appeared through the unjustified transmission of cryptocurrency resources worth over $ 126 million via the Fantom link from MultiCHAIN. In a recently published document of the investment company Thanefield, it was announced that the fantom blockchain is based on the multicross-cross-chain method.

It turned out that almost 40 % of the crypto properties on Fantom were transferred to the system via the MultiChain left. This made the fantom blockchain, including the Dogechain and Monriver links, particularly visible. Almost $ 120 million of these broadcasts came from the fantom connection of MultiChain.

The Fantom Foundation emphasized, however, that it does not have an official cross-chain bridge. Basically, this means that the blockchain does not have an “official” link or has a system for transmission of properties between blockchains. According to the foundation, however, the developers always had the right to choose every protocol that is suitable for their projects.

The Fantom Foundation intends to minimize the dependence of the blockchain on a single method for cross -chain -circuit companies and assets. She called Axelar and Layer Zero as an alternative bridging protocol. In a community deal, the foundation pointed out that these protocols have so far not achieved great success among the developers on their system. However, this indicates that the Foundation intends to use further bridging options.

In addition, the Fantom Foundation plans to use the resource pools issued by Axelar and Layer Zero and the links themselves to secure assets. This is intended to ensure the safety and stability of the process. The Foundation also emphasizes that they will continue to support and promote new development options if new assets are integrated into the network.

The FTM token currently has a value of $ 0.272559, which corresponds to a decrease of 8.9 % last week. It has a market value of around $ 762.5 thousand and is the 55th largest cryptocurrency.

The Fantom Foundation is actively working to improve the security and versatility of the Fantom blockchain by examining and implementing alternative bridging protocols. Through these measures, users should keep trust in the blockchain and promote further development of the network.