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Gungun Bhatia
Dec 27, 2022
by Gungun Bhatia

Fantom’s Andre Cronje to Focus on dApp Ecosystem Expansion In 2023

Andre Cronje dApp Ecosystem

Table of contents

  1. Andre Cronje on Expansion of dApp Ecosystem
  2. Introduction of Fantom Virtual Machine
Andre Cronje, a pioneer in decentralized finance, underlined the objectives and primary concerns for the Fantom dApp Ecosystem in 2023 in a Medium article published on December 26. Cronje, who previously developed protocols including Yearn.finance and Keep3rV1, also disclosed that he took a seat as a senior executive for both Fantom Foundation Ltd and Fantom Operations Limited, which regulate the ecosystem for the designated directed acrylic graph.

Andre Cronje on Expansion of dApp Ecosystem

Gas monetization, which would enable revenue sharing for decentralized applications, or DApps, as a growth incentive, is a crucial component of Cronje's 2023 Fantom plan. Furthermore, through gas subsidies, Fantom DApps would communicate without a wallet having to cover the gas costs on its own. Users do not require FTM during onboarding, according to Cronje's article.

The elimination of the boundary between smart contracts and publicly held accounts is another aspect of "gas reform," which enables anybody to start operations and make gas payments. The protocol would also allow the usage of other tokens besides FTM as gas costs.

Introduction of Fantom Virtual Machine

Cronje intends to concentrate on creating the Fantom Virtual Machine and a brand-new storage system as fresh improvements.

About the protocol's financial administration, Cronje wrote that given the present market situation, and especially when compared to 2018, they are in an extremely healthy and long-term position, as has been publicly stated. Finally, there is a threat to their survival about which they need not worry too much.

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Fantom’s Andre Cronje to Focus on dApp Ecosystem Expansion In 2023
Gungun Bhatia
Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

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