Talking Crypto with Griffin, Technical Outlook, Edition #147 (17/11/2021)

🎙 Tonight's new edition is almost ready to watch! Read detailed fundamental analysis featuring Fantom (FTM), Solana (SOL), Chainlink (LINK), Polygon (MATIC) while we wait for the video 👇

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As Q’s little helpers wrap things up with the video, Qluster analysts provide some context for the highly anticipated features in tonight’s community-special report…

Q's Fundamental Assessment: Fantom (FTM)

Fantom is a next-generation blockchain platform allowing for extremely high transaction counts whilst also remaining decentralised and secure. Furthermore, the platform is built on top of the Ethereum virtual machine, allowing developers to very easily migrate Dapps over with almost no friction. 

Lachesis is Fantom's aBFT consensus algorithm - and compared to the Classical and Nakamoto consensus - Lachesis is a faster, more scalable, and more secure choice. 

The combination of speed and EVM compatibility has resulted in explosive growth on Fantom's network. 

Users can bridge funds from Ethereum or Ethereum-based networks to Fantom when seeking the advantage of cheaper and faster transactions. 

At present, Fantom's TVL is in the billions, gaining tens of thousands of new users across its large variety of decentralised applications.


Q's Fundamental Assessment: Solana (SOL)

Solana is one of the few non EVM chains that has been able to compete in the smart contract space - and pose a real challenge to Ethereum's dominance. 

The developers have created a large and robust ecosystem using new technologies, proactive innovation and constant improvement to the underlying protocol to ensure minimal friction for user interactions with Dapps.

Solana uses a ton of new innovative technologies to achieve consensus and promote usage. For example, Solana uses Proof of Stake to determine the network rules enforced with the aid of PoH, TBFT, and validators. 

PoH, or Proof of History, is likely the Solana team’s most significant innovation. 

Essentially, it acts as a "clock before consensus". 

The Proof of History is a high-frequency Verifiable Delay Function. 

A Verifiable Delay Function requires a specific number of sequential steps to evaluate yet produces a unique output that users verify efficiently and publicly. 

This, in turn, allows Solana to avoid the longest chain rule. 

All these significant advances have allowed Solana to create the first true Ethereum competitor. As a result, the network and its usage are growing daily - which is also reflected in SOL's TVL. 

Currently, Solana's TVL is on the road to crossing 10 billion.

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Q's Fundamental Assessment: Chainlink (LINK)

Chainlink started many years ago as a niche project looking to fuel the decentralised world with data via oracles. 

Any DeFi application that requires real-time, external data feeds must use oracles. Chainlink is the number one project in this space regarding size, integrations, and overall technology. 

Essentially, Chainlink is a decentralised network of nodes that provide data and information from off-blockchain sources to on-blockchain smart contracts.

Chainlink has hundreds of use cases, including:

  • Chainlink can be used to retrieve weather data to help calculate insurance premiums

  • Location data to use in supply chain tracking

  • Retail or bank payment information to trigger a smart contract.

  • Dynamic NFTs can have the data overwritten and changed as the data changes in real-time

  • Serves as real-time price trackers for both centralised and decentralised financial products, such as many of the lending protocols available on Ethereum or for public exchanges like Kraken 

Hundreds of platforms and services currently integrate LINK, and as this number grows, demand for the LINK token will also likely increase. 

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Q's Fundamental Assessment: Polygon (MATIC)

Matic is a scaling solution and sidechain built primarily for Ethereum. 

Based on the EVM, it's used as a secondary layer on top of Ethereum to allow users to interact with Ethereum based assets without paying the exceptionally high fees layer 1 has. 

Polygon combines the best of Ethereum and sovereign blockchains into a full-fledged multi-chain system.

The system has significant advantages for users and developers alike, including: 

  • One-click deployment of preset blockchain networks

  • A comprehensive set of modules for developing custom networks

  • Interoperability protocol for exchanging arbitrary messages with Ethereum and other blockchain networks, including adaptor modules for enabling interoperability for existing blockchain networks

  • A modular security model 

Furthermore, MATIC also acquired Hermez - a ZK-rollup based product - to help expand Ethereum's over scalability and its domination of the layer 2 market. 

Due to cost-effective deployment and usability, MATIC's total value locked has grown significantly. 

Launch sequence initiated. The countdown has started - our video will be online very soon!

Q’s hearty serving of technical goodness is in the hands of the internet gods now…

Watch Griffin undress the technical analysis in tonight’s video edition of the Technical Outlook Edition #147 (17/11/2021).

Charts featured include:

  • Fantom (FTM)

  • Solana (SOL)

  • Chainlink (LINK)

  • Polygon (MATIC)

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