Fantom is a smart contract platform that offers decentralized finance (DeFi) services to developers using its own consensus algorithm. Fantom is characterized as a smart contract platform based on DAG (directed acyclic graph).
What is Fantom (FTM)?
Founded in 2018 with the launch of its mainnet OPERA in December 2019, the Fantom Foundation oversees Fantom’s product presentation. Fantom aims to resolve issues related to smart contract platforms, especially transaction speed issues, with its in-house token FTM.
Additionally, Fantom is working on a new consensus mechanism built from scratch to facilitate DeFi and related services based on smart contracts.
This mechanism, Lachesis, promises much higher capacity and transaction completion in two seconds, offering security improvements over proof-of-stake (PoS) based platforms.
Matching Ethereum’s project, Fantom appeals to developers who want to use decentralized solutions. According to official literature, its mission is to ensure compatibility among all transaction bodies worldwide.
FTM, the in-house PoS token, forms the backbone of transactions and allows for fee collection, staking activities, and user rewards.
Additionally, through token sales in 2018, Fantom raised about 40 million dollars to finance development.
Moreover, the Fantom Foundation was established by South Korean computer scientist Dr. Ahn Byung Ik. The current CEO of the platform is Michael Kong.
The team behind Fantom primarily has extensive experience in full-stack blockchain development and aims to create a smart contract platform that prioritizes scalability, decentralization, and security.
According to its official website, Fantom’s team also consists of expert engineers, scientists, researchers, designers, and entrepreneurs, with employees scattered around the world in line with the ethos of a distributed platform.
At the time of writing, FTM Coin is trading at 0.4547 dollars and also trades at 0.000009766 BTC in the FTM BTC trading pair. It’s worth noting that according to CoinMarketCap, Fantom Coin, ranking 56th with a trading volume of 1,155,605,303 USD, has a 24-hour trading volume of 316,881,007 USD.
Furthermore, Fantom Coin, which peaked at 0.8717 dollars on February 25, 2021, also hit its lowest at 0.0019 dollars on March 13, 2020. Currently, there are 2,545,006,273 Fantom Coins in circulation, and this number is expected to reach a maximum of 3,175,000,000 FTM Coins.
Where to Buy FTM Coin?
FTM Coin can be quickly and securely purchased through Binance, the world’s largest cryptocurrency trading platform by trading volume.
To buy FTM Coin, one must first register on Binance and then send fiat currency. Following the transfer of a fiat currency like Turkish Lira or dollars, FTM Coin can be purchased by buying Binance Coin (BNB), Tether (USDT), or Bitcoin (BTC) and then trading in the FTM trading pair.
In addition, on Binance, users can place buy orders not only at market value but also at a lower value. To do this, use the Limit tab and enter the amount and price you want to buy at.
