Fantom Launches Monetization Feature For Developers

FTM, native token Fantom. (Photo; Doc. Coin568)

JAKARTA - In the crypto world, the cost of gas or gas fees refers to transaction fees incurred by users when conducting operations or transactions on blockchain networks. This fee is given as an incentive to miners or validators to process these transactions and maintain the security and integrity of blockchain networks.

The reason is that in every crypto transaction there is a complexity that involves computing and storing data within the blockchain. To ensure that the transaction is verified and recorded accurately, significant computing resources are needed. Gas costs are used to measure the amount of computing resources needed to complete the transaction.

Fantom (FTM), a rising blockchain protocol, has announced a lucrative gas monetization feature for developers. Through this feature, developers can receive 15 percent of the gas commission they generate, providing incentives for them to build innovative solutions on the Fantom blockchain platform.

Reporting from CoinSpeller, currently there are 10,492 FTM funds available for this program. Of these, about 514 FTMs have been distributed, and the total generated funds reached 11,006 FTM. However, although detailed information about this update is still small, a number of Twitter users have asked whether this incentive will also provide benefits to investors.

Gas costs or transaction fees on blockchain networks have been a prolonged problem for developers and users. The Fantom gas monetization function is trying to solve the problem by providing developers with the opportunity to get some of the revenue from the gas generated through their decentralized apps (dApps).

Fantom is not the first platform to consider a developer in terms of high gas costs. Previously, Polygon, Ethereum's Layer-2 scalability platform, had taken similar steps to address gas spikes and chain reorganization problems.

The advantages of this Fantom gas monetization feature are very significant. In addition to encouraging a more inclusive and powerful developer ecosystem, this feature can also attract more developers to join the Fantom platform and create a variety of high-quality DApps on the network. This can provide Fantom token price stability and increase user adoption, strengthening Fantom's position as a leading blockchain platform.