|Fantom (FTM)||Buy Fantom Now|
|Fantom is a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using its own bespoke consensus algorithm...|
|Change 7d||12.08%||Market Cap||$951 848 188|
|Available supply||2 545 006 273 FTM|
|Volume 24h||$348 713 450|
|Updated||Wednesday, August 10, 2022 7:00:05AM UTC|
General FTM facts, technical details and Fantom Cryptocurrency information
Fantom is a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using its own bespoke consensus algorithm.
Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms, specifically transaction speed, which developers say they have reduced to under two seconds.
The Fantom Foundation, which oversees the Fantom product offering, was originally created in 2018, with the launch of OPERA, Fantom’s mainnet, coming in December 2019.
The Fantom Foundation was founded by South Korean computer scientist Dr. Ahn Byung Ik. Currently, the platform’s CEO is David Richardson, former managing CEO at Mid-Ocean Consulting.
The team behind Fantom has extensive experience primarily in the field of full-stack blockchain development, and aimed to create a smart contract platform which privileges scalability, decentralization and security.
According to its official website, Fantom’s team also consists of specialist engineers, scientists, researchers, designers and entrepreneurs. Employees are located throughout the world, matching the ethos of a distributed platform.
Fantom attempts to use a new scratch-built consensus mechanism to facilitate DeFi and related services on the basis of smart contracts. The mechanism, Lachesis, promises much higher capacity and two-second transaction finalization, along with improvements to security over traditional proof-of-stake (PoS) algorithm-based platforms.
Matching Ethereum, the project appeals to developers looking to deploy decentralized solutions. According to its official literature, its mission is to “grant compatibility between all transaction bodies around the world.”
Its in-house PoS token, FTM, forms the backbone of transactions, and allows fee collection and staking activities, along with the user rewards the latter represents. Through token sales in 2018, Fantom raised almost $40 million to fund development.
FTM is a proof-of-stake (PoS) token which in fact exists in several incarnations. The platform’s compatibility with Ethereum means that users can purchase an ERC-20 standard FTM, which is automatically converted to native FTM once received to their wallet. Another version of FTM is available on Binance Chain using its BEP2 standard. Only the native FTM can be used on the Fantom OPERA mainnet itself.
The total supply of FTM is 3.175 billion tokens, of which 2,134,638,448 FTM is currently in circulation. The rest will be released subject to a schedule running through 2023.
Staking forms an important part of tokenomics, with a proportion of the supply reserved specifically for staking rewards to users who hold FTM.
Fantom uses a bespoke variety of proof-of-stake algorithm to provide services and secure its network. Known as Lachesis, it is an example of a so-called asynchronous byzantine fault tolerant (aBFT) consensus mechanism. By removing leadership among network participants, Fantom avoids low-cost attack risk, while staking adds further user incentives to secure operations using FTM token holdings.
Fantom’s FTM token is freely tradeable, and can be found on major exchanges such as Binance, Gate.io and OKEx Korea. FTM exists on several protocols, with ERC-20, BEP2 and Fantom’s own OPERA tokens all circulating.
|Date||Open, $||Min, $||Max, $||Market cap, $|
|Aug 01||0.329178||0.327904||0.345765||879 975 154|
|Aug 02||0.343003||0.321072||0.343003||853 209 132|
|Aug 03||0.330575||0.320642||0.347815||858 268 516|
|Aug 04||0.338251||0.338251||0.363184||924 305 645|
|Aug 05||0.367470||0.364896||0.384192||964 174 493|
|Aug 06||0.380162||0.369641||0.385822||942 808 323|
|Aug 07||0.366747||0.361759||0.376912||948 546 273|
|Aug 08||0.370774||0.370774||0.389178||961 233 684|
|Aug 09||0.380253||0.359001||0.390725||943 881 003|
|Aug 10||0.373260||0.358655||0.374006||951 848 188|
* Crypto Rating accepts no liability for any errors in the Fantom information, FTM Prices and FTM's Market Cap. For the most up-to-date prices please visit the Fantom's official website.
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