The Algorand Foundation promises to foster the future of blockchain technology on a global scale by leveraging Algorand Protocol.
What is this new relation about?
The Algorand Foundation has decided to provide strategic backing to the Ferrum Network through a sizeable grant. This new partnership will help Ferrum Network to further integrate its suite of white label products and services.
New windows of opportunities
Ferrum Network practices four success metrics that are important for dApps and infrastructure alike: Adoption and interoperability, Token Utility, Security, and Capacity.
ADOPTION & INTEROPERABILITY
The Ferrum Network has developed a target to improve mass adoption by breaking down barriers. Interoperability can be established by integrating the Algorand with Cross-Chain Token Bridge. This can further improve the connectivity of Algorand and other projects to a broader crypto community. This will effectively help attract many more developers and dApps into the network.
TOKEN UTILITY
Many a time, Token Utility is missing or not complete when a project is launched, which makes investors impatient to sell the tokens prematurely. Ferrum designed products that have been successful in adding the tokens at the project’s early stage. Cross-Chain Token Bridge makes the project more compatible and even adds additional token utility.
CREATING SPACE & FREEING CAPACITY
Ferrum has been able to develop white-label blockchain solutions to empower and lead start-ups and established organizations. This has aided them to launch their products in the market much faster. The Algorand ecosystem has a similar aim.
SECURITY
Ferrum is known for developing and bringing secure protocols to the system. By bringing a similar set of protocols into the Algorand System, it will promote a safer and more secure place, where innovative solutions can be built in the blockchain space.
Conclusion
This new venture has brought in many different reactions. Both Ferrum and Algorand will work together to make this partnership a fruitful one. This partnership is deemed to bring equal and just opportunity for everyone and make a truly borderless economy. Everyone is looking forward to the output from this new venture.
