What is Fantom (FTM)?
Fantom - the open source platform that enables free development of decentralized applications or DApps.
- Fantom (FTM) is based on DAG technology instead of blockchain, efficient, fast and cheap.
- FTM is the native token based on Ethereum, and it works for payment of commissions and rewards.
- This ecosystem aims to increase the speed of transactions on smart contract platforms, while lowering transaction fees.
Key metrics of Fantom (FTM)
Cap de Mercado
About Fantom (FTM)
Fantom is an open source platform, which gives developers the advantage of creating applications within DApps, as well as handling smart contracts. Something that makes Fantom different is that it is based on DAG technology instead of Blockchain, which offers speed and efficiency.
Fantom was created in the year of 2018 by Ahn Byung Ik, a Korean computer scientist who had worked for several years in the crypto ecosystem. This ecosystem is currently worked on by Michael Kong and his team of scientists, researchers and multiplatform designers.
DAG is a network even older than the Blockchain itself. Fantom (FTM) was based on DAG because the network needed to increase the speed of transactions in smart contracts, but offering low fees that can be paid anytime, anywhere.
Fantom currently has over 200 decentralized applications within the platform, some of them already well known in the ecosystem such as Chainlink, Band Protocol, The Graph, Ankr, Ren and DAO Marker.
What is FTM? Fantom's native token
FTM is the native token of the Fantom network. It was created with the purpose of using it as a currency to pay commissions within the network, either per use or per creation. For this reason, we could say that the ecosystem could stand on its own and without the help of another crypto.
Then FTM started to be used as a reward for all users who have participated in the verification of transactions by staking cryptocurrencies. This helped to incentivize the use of the network through the use and control of internal mechanisms.
Some time later, FTM began to be marketed as a digital currency for buying and selling and for investment, due to its price ranging from 1 to 3 dollars. Because it is based on Ethereum, it is available on cryptocurrency exchanges such as TruBit Pro.
As additional information, FTM uses Proof of Stake or Proof of Stake as its mining method. This means that any user can start staking and get extra token rewards by participating in transaction validations. This means that you cannot mine through hardware (graphics cards), as in the case of Bitcoin.
Currently the number of FTM tokens in circulation is 3 billion, of which 80% are still in the market. This has caused its value to remain below the dollar currently.