Fantom is a smart-contract platform that is high-performing, scalable, and secure. It was created to address the shortcomings of earlier blockchain systems. Fantom is open-source, permissionless, and decentralized. Fantom’s innovative aBFT consensus method, Lachesis, allows it to be considerably quicker and less expensive than earlier technologies while remaining very safe.
Fantom’s ledger technology stack builds a DAG-based platform to be utilized for powering intelligent cities and all of its services. Fantom is an ultra-high-speed, high-performance platform, it may become the IT infrastructure backbone for burgeoning smart cities. Fantom claims it is the solution to safely storing massive volumes of data, with a goal of completing 3 million transactions per second and the capacity to connect across various service providers.
What is Fantom [FTM]?
Fantom is a decentralized finance (DeFi) smart contract platform that uses its own proprietary consensus algorithm to provide decentralized finance (DeFi) services to developers. Fantom promises to tackle difficulties connected with smart-contract platforms, especially transaction speed, which developers claim to have lowered to under two seconds, using their in-house coin FTM. The Fantom Foundation, which supervises the Fantom product portfolio, was founded in 2018, and OPERA will launch in December 2019.
Who Are the Founders of Fantom [FTM]?
South Korean computer scientist Dr. Ahn Byung Ik established the Fantom Foundation. Michael Kong is the platform’s current CEO. The Fantom team has considerable experience, particularly in full-stack blockchain development, and set out to design a smart contract platform that prioritizes scalability, decentralization, and security.
Fantom’s staff also includes expert engineers, scientists, researchers, designers, and entrepreneurs, according to its official website. Employees are spread around the globe, in keeping with the dispersed platform’s concept.
What Makes Fantom Unique?
Fantom is attempting to utilize a new scratch-built consensus mechanism to support DeFi and associated services based on smart contracts. Lachesis, the mechanism, offers considerably greater capacity and two-second transaction finalization, as well as security enhancements over existing proof-of-stake (PoS) algorithm-based platforms.
The project, like Ethereum, attracts developers who want to build decentralized solutions. Its purpose, according to its official literature, is to “ensure global consistency across all transaction bodies.”Its in-house PoS token, FTM, serves as the transaction’s backbone, allowing fee collection and staking operations, as well as the user incentives represented by the latter. Fantom raised over $40 million in 2018 through token sales to support development.
Where Can You Buy Fantom [FTM]?
The FTM token from Fantom is freely marketable and can be obtained from major exchanges including Binance, Gate.io, and OKEx Korea. FTM is available on various protocols, including ERC-20, BEP2, and Fantom’s own OPERA coin.
Frequently Asked Questions
Can I Buy Fantom [FTM] With Cash?
No. FTM cannot be purchased with fiat currency since it is a crypto coin. You have to register with an FTM-listed exchange to create an account by entering your email address and password and make a deposit into your account. Then, you would be able to buy Fantom.
Are there any quick ways to buy Fantom [FTM] in Europe?
The quickest way to obtain FTM is to use your credit or debit card to buy major cryptocurrencies directly on Trust Wallet. Register to Fantom and exchange your cryptocurrencies for FTM coins.
What is the cheapest way to buy Fantom?
Binance is offering a 10% refund on all trading costs with the code EE59L0QP. It allows users to purchase Fantom (FTM) with a credit card, debit card, or Bitcoin (BTC).
Fantom Official website – https://fantom.foundation/
Fantom Twitter – https://twitter.com/FantomFDN
Fantom Reddit – https://reddit.com/r/FantomFoundation