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What Is Fantom?

Fantom is a directed acyclic graph (DAG) smart contract network that uses its own bespoke consensus algorithm to render decentralized finance (DeFi) services to developers.

Fantom, uses its native token- FTM, to solve problems associated with smart-contracts, mostly transaction speed, scalability and interoperability.

Fantom is a cryptocurrency that does not use blockchain; rather it uses an innovative directed acyclic graph (DAG).Using its scalability, it can do virtually anything that’s being done today on the internet unlike the blockchains.

Fantom is different from other directed acyclic graph (DAG) platforms like Nano because, it can run smart contracts. Although some of them, like IOTA are just developing a smart contract platform. Fantom is permissionless unlike Hedera and other DAG platforms.

Achievements of Fantom so far:

  • Fantom has finished working on its OPERA core layer development.
  • It has launched a beta Virtual Machine and a Testnet.
  • It’s listed on Binance and other major exchanges.
  • Fantom has completed its Mainnet project.
  • Its price has gradually stepping up from 0.8 cents to 4 cents, thanks mostly to its Binance listing.

The Fantom Foundation oversees the Fantom network and it was launched in 2019 with the aim of overcoming some of the challenges facing the DeFi sphere.

The native PoS powered token is FTM and it’s the backbone of all the transactions within the Fantom’s network.

Team of Fantom (FTM)

Fantom (FTM) is made up of experienced team members drawn from various fields of endeavors. The team consists of scientists, specialist engineers, researchers, designers, full-stack blockchain development experts and entrepreneurs. The team was founded by a South Korean computer scientist Dr. Ahn Byung.

Presently, the CEO of Fantom platform is David Richardson and he was the former CEO Mid-Ocean Consulting.

We have other members of the team that were not captured in this report.

Use Cases of Fantom (FTM)

  • Fantom is a platform you can build your blockchain, run your blazing dApps using SDK or VM.
  • Fantom is the infrastructure backbone for a complex network of devices connected via the Internet of Things (IOT).
  • Fantom could be used as the nervous system for smart cities.
  • It’s being used to secure and run efficient platforms for public utilities, healthcare services, identity storage and host of other utilities.
  • FTM token is used for trading in major exchanges.
  • FTM token is used for all the transactions within the network.
  • Fantom (FTM) is used for fraud mitigation.

Mining of Fantom (FTM)

Mining is carried out in Fantom, using a Proof-of-Stake consensus algorithm to validate transactions and secure the network. The validator stakes his/her FTM and get rewarded with FTM tokens.

FTM tokens are available at the major cryptocurrency exchanges such as Binance, VCC Exchange, OKEx, Bibox and DigiFinex.

Notes for Investors

It has been a progressive journey for Fantom (FTM) in the cryptocurrency space, having being in the steady rise in the crypto market recently.

Fantom (FTM) is presently trading at a unit price of $0.020050 USD (+5.51%), the market cap stands at a value of $42,794,552 USD and the circulating supply is 2,134,397,405 FTM. It’s presently ranks 158th in the cryptocurrency market.

Fantom (FTM) would never be considered a bad investment option considering the above statistics.

Quick Disclaimer:

This report is not in anyway, recommending Fantom (FTM) for investment. The crypto market is presently experiencing instability and it’s quite unpredictable. Please, consider this publication informational, just to educate readers.