The Cryptocurrency market is growing rapidly, from the last few months a token named Fantom (FTM) is giving huge profits to its investors. If we analyze the data of one year then we can see it has surged more than 9700%. Many people have started investing in this coin to earn huge profits. Today we are going to explain some basic details of the Fantom token in this post.
What is Fantom (FTM)?
Fantom Foundation offers Fantom product which was originally created in 2018. Fantom is a fast and high-throughput open-source smart contract platform for digital assets and dApps. It is providing its services to developers using its own bespoke consensus algorithm.
Fantom also has its native FTM token which is used by developers to solve problems associated with smart-contract. It also increases the transaction speed.
Who are the Founders of Fantom?
Fantom Foundation was founded by computer scientist Dr. Ahn Byung Ik (From South Korea). And current CEO of Fantom Foundation is Michael Kong. The main aim of Fantom Foundation is to develop a full-stack blockchain to create a smart contract platform with scalability and security.
Currently, the Fantom team consists of scientists, researchers, specialist engineers, designers, and entrepreneurs throughout the world.
What Makes Fantom Unique Among Others?
According to Fantom Foundation, they attempt to use a new scratch-built consensus mechanism to facilitate Defi and related services based on smart contracts.
Fantom uses the mechanism Lachesis, which promises high capacity and two-second transaction finalization. It also ensures improvements to security over traditional proof-of-stake (PoS) algorithm-based platforms.
These features make Fantom more unique among other projects. Fantom has its own token FTM that is used for transactions and also allows fee collection. It also offers staking and user rewards activities. According to reports Fantom has raised more than $45 million to fund development from its token sales.
Fantom (FTM) Tokens In Circulation
Fantom has a total supply of 3.175 billion tokens and currently, there are 2,134,638,448 FTM tokens in market circulation. And the rest of the tokens will be released in 2023.
There are two versions of FTM tokens are available in the market one is on the Ethereum network (ERC-20) and another version is on Binance Smart Chain (BEP2).
Related Article: What Is VITE Coin?
How the Fantom Network is Secured?
Fantom network is more secure as compared to other networks it uses a bespoke variety of proof-of-stake algorithm that facilitates extra security to Fantom network. The fantom mechanism is known as Lachesis, which is an example of the so-called asynchronous byzantine fault tolerant (aBFT) consensus mechanism.
Fantom avoids low-cost attack risk and its staking feature provides incentives to users for holding FTM tokens to secure its operations.
Fantom Coin Market Cap, Total Supply, and Current Price
|Token Name||Fantom (FTM)|
|Circulating Supply||2.55B FTM|
|FTM Token Price||$1.67 (26 February 2022)|
|Ethereum Contracts Address||0x4e15361fd6b4bb609fa63c81a2be19d873717870|
Fantom Coin Price Prediction 2021, 2022, 2025
The Fantom (FTM) token’s current price is $1.67 and its all-time high price was $2.45 on Oct 08, 2021. Since it is the native token of Fantom Foundation Network, then we can say its price will increase in the future. The exact price prediction is very difficult at this time but we can not ignore this token’s previous history and project uniqueness.
Fantom network is also attracting more developers to build their applications on their platforms for more security and transaction speed. So there are chances to increase the price of this token in the near future. According to our analysis, FTM’s price can cross the $10.00 mark before the end of this year.
How Can You Buy The Fantom Tokens?
Fantom token is already listed on many popular exchanges including Binance, Coinbase, WazirX, Zebpay, CoinDCX, Bitmart, Gate.io, and OKEx Korea. You can easily buy this token from any exchange where the FTM token is listed.
I am Pawan Kashyap currently living in Amritsar. I always try to grab new things from the cryptocurrency market. From my observations and trends in the market, I always try to provide the best and accurate information in the form of articles from this blog. Follow us on Facebook, Instagram, and Twitter to join us.