What’s the Latest Update on Multichain? Could Fantom Issues Halt Avorak Expansion?

Cryptocurrencies are constantly evolving, and the newly developed Multichain technology has been on the rise since its launch. The blockchain industry has greatly benefited from the technology's ability to connect different blockchains and aims at improving interoperability. They allow communication among blockchain networks, including the popular platform Fantom. Regardless of their essential utility, Fantom wasn't a choice for the prominent AI decentralized network, Avorak. 

What is Fantom?

Multichain platforms allow seamless communication among different blockchains and allow connections that enable data transfer. This has led to increased adoption of decentralized finance (DeFi) platforms.

Fantom is among the fastest multichain platforms that also transact at low fees. Regardless of its great features, the platform has recently been facing changes in service delivery. As such, this has led to concerns about its reliability, halting Avorak's expansion. 

Issues with Fantom that Make it Unreliable

In recent months, Fantom has experienced network outages that have caused transaction delays. This has inconvenienced its users, raising questions about the network's reliability. The platform's integrity based on stability and its power to provide for increasing demand for DeFi and dApp has been questioned.

Avorak, an AI decentralized exchange, had set sights on partnering with Fantom, but the move was indefinitely postponed due to various issues. 

Avorak Choosing not to go Cross-chain on Fantom

Avorak is an automated market maker (AMM), an advanced decentralized exchange (DEX) that uses artificial intelligence to deliver its services. The platform has considered expanding its reach to other platforms, including Multichain platforms like Fantom. However, Avorak had to rethink its plans since Fantom has issues that could affect Avorak's general market performance. 

Avorak offers a variety of features, including its ability to analyze the market and offer the best and most effective recommendations based on real-time data. As such, it is a very reliable platform that uses AI in its services, including providing trading features through Avorak Trade. Among them are automated crypto trading strategies that are very profitable. Moreover, such features require it to rely on fast, stable platforms in delivering its services. Fantom did not make the cut for this advanced technology. 

Among the main concerns Avorak raised was the total value locked (TVL) of the Fantom blockchain. TVL is essential in understanding a project's popularity and market success. Fantom's TVL has been steadily increasing, reaching over $2 billion in May. However, any issues Fantom faces could impact this amount. This has made Avorak cautious about expanding with Fantom due to potential issues. Instead, Avorak chose other options like Binance Smart Chain, which are more stable and reliable. 

Conclusion

Multichain platforms continue to grow in popularity, but Fantom has faced issues with reliability and stability, making investors worry. Avorak intended to link with the Fantom multichain platform but had to rethink its plans due to network issues.

However, Avorak remains a resilient, decentralized blockchain platform that has the potential to dominate the cryptocurrency market. 

Find out more about Avorak on:

Website: https://avorak.ai

Buy AVRK: https://invest.avorak.ai/register