Last updated 09/07/2021
Official website: https://fantom.foundation/
Fantom is a fast, high-throughput open-source smart contract platform for digital assets and decentralised applications (dApps). The main utility of the Fantom (FTM) token is to secure the network via a Proof-of-Stake (PoS) system but is also used for governance, payments and fees for other tokens hosted on its network.
With hopes of decentralising financial services at scale such as day to day payments, asset trading data transfers and other consumer and business transactions while providing bank-grade security, represents a challenge for the whole blockchain industry. Fantoms' solution is Lachesis its high-speed consensus mechanism, this allows digital assets to operate at unprecedented speeds and Fantom claims this delivers dramatic improvements over current systems.
Lachesis is Fantom’s aBFT (Asynchronous byzantine fault tolerance) consensus algorithm. Simply put, a consensus mechanism is the engine that powers the blockchain. Compared to Classical and Nakamoto consensus, Lachesis is a faster, more scalable and more secure choice. Developers can use Lachesis to build peer-to-peer applications without having to create their own networking layer.
Fantoms network caters a range of decentralised financial mechanisms. Liquid staking directly through their platform, stakes are then rewarded with Fantom in accordance with the terms of their stake. Fantom also have an arsenal of forthcoming financial instruments in its pipeline that will present opportunities for its coin holders, fMinting, fLending, fTrading to name a few. The Fantom Opera network already hosts a catalogue of tokens on its platform each performing unique functions.
The number of assets hosted on its network is growing as Fantom looks to improve its visibility and appeal by strengthening and creating partnerships with established networks and parties. Fantoms efforts have secured partnerships in both the public and private sector.
Fantom have acquired the attention of private companies that will rely on its technology from various industries such as Chekkit a supply chain verification firm that ensure products (predominantly medical and technological) are genuine safe products as well as Travala, a Blockchain based travel booking platform. Finally, Fantom (FTM) are collaborating with other Cryptoassets in relation to its crosschain ambitions; Chainlink (LINK), The Graph (GRT), Ren (REN), Ethereum Classic (ETC) & Waves (WAVES).
Michael Kong is the Chief Executive Officer at Fantom (FTM), Michael has held various prominent positions namely Chief Technology Officer at Liberté & Co, Chief Technology Officer at myStake and a developer position at Ethereum based platform Block8 only to name a few.
Andre Cronje is the DeFi Architect and Technical Advisor for Fantom (FTM), Andres experiences in the blockchain and technology industry are in plentiful supply currently holding positions as a Chief Crypto Code Reviewer at CryptoBriefing, DeFi Architect at Ethereum and performs optimisation for Yearn, Curve and ytrade Finance.
The Fantom Wallet is the one of the safest and secure cryptocurrency wallet to store your FTM and other tokens in the Fantom ecosystem. Own your private keys without relying on a third-party and is available directly through their website https://fantom.foundation/ftm-wallet/. Fantom can also be stored on Ledger Hardware wallet devices through additional software MetaMask.
You can Buy & Sell Fantom (FTM) by heading over to the Buy Coins page of our website. Fantom (FTM) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying Fantom (FTM) has never been easier, simply place your order and provide your wallet address. Once your payment arrives, Fantom will be sent directly to your wallet.
If you choose to Sell Fantom (FTM), you can send us the coins and receive a payment to your bank account. Details and valuation can be found on our Sell Coins page.
Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.