Fantom token FTM jumped 52% after its network upgrade on the 29th of April. Fantom’s latest upgrade, Go-Opera, comes with a range of technical changes to make the network faster. The upgrade also makes the network more efficient and reliable.
Fantom said the network upgrade was complete at 5:42 am (UTC+1). The spike in the price of FTM occurred about two hours after the upgrade. The token, which was $0.461821, grew to $0.705069.
At press time, FTM is up 2.83% to $0.5933 after climbing more than 61% in 24 hours. Since the beginning of 2021, the digital asset has been pulling in gains and reached several record highs. FTM has grown more than 4,000% since the beginning of the year.
Unlike the traditional method, Fantom is based on Directed Acyclic Graph technology instead of a blockchain. With this kind of technology, there would be asynchronous confirmation of transactions.
In addition, the Go-Opera Upgrade causes Fantom to process transactions faster, reducing translation time to 1 second. Furthermore, Go-Opera limits the synchronization time for nodes to a quarter of what it was before the upgrade.
On the 28th of April, Hyperchain Capital invested an additional $15 million investment in Fantom Foundation.