Fantom Price - FTM Price in USD with Live Chart

What Is Fantom (FTM)? 

Fantom is described by its foundation as "a high-performance, scalable, and secure smart-contract platform." Distinctive components comprise the platform.

It is built on top of the Fantom Opera blockchain. With its open-source directed acyclic graph network, smart contracts can be run on Ethereum, and new contracts can interact with existing ones.

Lachesis, an asynchronous byzantine fault-tolerant Proof of Stake system, is employed to verify Fantom transactions. Proof of Work and conventional Proof of Stake is slower and more expensive than ABFT validations. It takes ABFT systems seconds rather than minutes to complete transactions.

There is a blockchain network underlying every Fantom-based dApp. Tokens, economies, governance rules, and economies can be custom on these blockchains. dApps running on different Fantom blockchain networks can interact with each other using the Lachesis consensus mechanism. Because of this, Fantom's platform is sometimes called a network of networks.

Blockchains in Opera can run Ethereum smart contracts and integrate with Ethereum-based decentralized applications using a virtual machine compatible with the EVM.

With Fantom tokens, validators are rewarded, financial transactions are executed, and certain governance rights are granted. Several cryptocurrency exchanges, such as Kriptomat, accept FTM.

Who Created Fantom (FTM)?

The founder and CEO of Fantom are South Korean scientist Ahn Byung Ik. Ahn Byung Ik and Matthew Hur presented this concept in 2018 to solve blockchain scaling difficulties.

In the years since Ahn Byung Ik left Fantom, the company has changed hands, and its current leadership includes CEO Michael Krong and DeFi architect Andre Cronje.

Why Does Fantom (FTM) Have Value?

In addition to being one of the first products that use DAGs for intelligent contracts and DApps, Fantom stands out from its competitors. As a result of DAGs, networks can scale more easily and carry out transactions more quickly.

Fantom has already impacted the global scale by facilitating digital payments, authenticating identities, and automating medical and legal records.

Why Use Fantom (FTM)?

FTM crypto is valuable to investors, but what is its value? The unique aspect of FTM is that it's scalable and compatible with Ethereum, making it ideal for use in the business world. Using Fantom, Ethereum-based smart contracts (Solidity) can be deployed more quickly, inexpensively, and securely.

There are 2.5 billion units of Fantom crypto circulating in the world. Fantom's market cap and volume may grow exponentially if it continues to advance in the DeFi area.

The entire Fantom ecosystem runs on FTM's native crypto. Tokens on the FTM network are used for various functions, including staking, governance, payments, and fees. The FTM token is also available on the Ethereum and Binance ecosystems (ERC-20 and BEP-2).

What Makes Fantom Unique?

Fantom has a unique place in the cryptocurrency world, especially for developers, because it focuses entirely on supporting dApp development. Validators are rewarded, and transactions run smoothly with the FTM utility token. 

With Fantom, you can share information and speed up development by snapping together its modular tools ecosystem. Fantom is designed to be decentralized and interoperable.
 

Openness is also a priority for Fantom. Platform source code can be downloaded through Github under an open-source license. Anyone can use the Fantom APIs and code to create building blocks.

Participation is open in Fantom's operation. Anyone can run nodes on the Opera blockchain. 3.175 million FTM stakes are required so that you can participate in this event. Having a validator node delegate one or more FTMs can start earning rewards.

A Fantom ERC-20 token cannot be used on Opera's blockchain. Your Fantom wallet will automatically convert Opera FTM into Fantom ERC-20 tokens. In addition to BEP-2 tokens, Fantom supports Binance-backed BEP-2 tokens.

All transactions are concluded at a meagre cost because of Fantom's unique algorithm named ABFT.

How Is the Fantom Network Secured?

A consensus algorithm known as Lachesis secured the Fantom ledger as part of the ABFT project. Lachesis is said to have four main advantages, according to Fantom.

Asynchronously, it operates. The processing of commands is independent of what other nodes do. By doing so, transactions can be executed and finalized more quickly and efficiently.

Lachesis is a fully decentralized, leaderless system. The network is not validated or secured by any one participant.

In addition to its security, Lachesis is easy to use. Despite malicious nodes, ABFT provides reliable information.

Lachesis provides final confirmation immediately so that block confirmations can be on time for up to 30 minutes.

The Fantom User Guide 

Fantom's primary focus is fostering secure distributed applications developed by entrepreneurs and software developers. dApp development is accommodated by every aspect of the ecosystem.

However, investors may also be interested in the FTM coin. In Fantom, coins are validated by consensus, so becoming a validator or delegating them to an established validator can earn you rewards. As well as acquiring USD, you can also trade synthetic tokens and acquire USD using FTM.

Fantom(FTM) token matrices

Where is the Fantom(FTM) coin available?

Fantom(FTM)  is available on a variety of cryptocurrency exchanges. The list of quick, secure, and easy exchanges is listed below.

• Binance
• kuCoin
• Kraken
• Bitfinix

You can check the whole list of exchanges here to buy  Fantom(FTM)