• About Boundlesspay
BoundlesssPay Blog
Advertisement
  • Home
  • News
    • News – Latest
    • News – Top Stories
    • News – Editors Pick
    • Heatmap
  • Articles
    • Altcoins
    • Bitcoin
    • Blockchain
    • DeFi
    • Finance
    • Metaverse
    • NFT
    • Regulation and Policy
    • Stablecoins
    • Web3
  • Announcements
  • Knowledge
    • How to
    • What is
    • Crypto Guides
No Result
View All Result
  • Home
  • News
    • News – Latest
    • News – Top Stories
    • News – Editors Pick
    • Heatmap
  • Articles
    • Altcoins
    • Bitcoin
    • Blockchain
    • DeFi
    • Finance
    • Metaverse
    • NFT
    • Regulation and Policy
    • Stablecoins
    • Web3
  • Announcements
  • Knowledge
    • How to
    • What is
    • Crypto Guides
No Result
View All Result
BoundlesssPay Blog
No Result
View All Result
Home Articles Altcoins

What Is Fantom (FTM)?

bpay by bpay
March 27, 2023
in Altcoins, Articles, Knowledge, What is
Reading Time: 2 mins read
56 2
0
Fantom (FTM) BoundlessPay
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Fantom (FTM) is a highly scalable blockchain platform for enterprise applications, crypto dApps, and DeFi. FTM is the Fantom network’s native token. It is used on the Fantom blockchain for staking, voting, issuing payments, and settling transaction fees.

 

Fantom (FTM) is a decentralized smart contract platform for DApps and digital assets that was developed as an alternative to Ethereum. 

Related articles

5 ways to invest in cryptocurrency

5 Ways to Invest In Cryptocurrency

October 23, 2023
The Rise of Decentralized Finance (DeFi) And What It Means for You

The Rise of Decentralized Finance (DeFi) And What It Means for You

September 27, 2023

Fantom (FTM) BoundlessPay

The purpose of Fantom is to overcome the limitations of previous-generation blockchains by balancing three components: scalability, security, and decentralization. The project provides a set of tools to make integrating current DApps easier, as well as a precise staking incentive structure and built-in DeFi instruments.

It is a Layer-1 blockchain that uses a scratch-built consensus mechanism and independent consensus layer called “Lachesis” to facilitate DeFi and related services on the basis of smart contracts. Lachesis provides security for other layers as well, including Opera, Fantom’s EVM-compatible smart contract chain. The long-playing mission of the project is to “grant compatibility between all transaction bodies around the world.

 

Who Founded Fantom (FTM)?

The Fantom Foundation was founded by South Korean computer scientist Dr Ahn Byung Ik in 2018. Currently, the platform’s CEO is Michael Kong.

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.

 

What Makes FTM Unique?

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.

Tags: AltcoinsBlockchainFantomFantom BlockchainFTMKnowledgeWhat is
Share76Tweet47
bpay

bpay

Related Posts

5 ways to invest in cryptocurrency
Articles

5 Ways to Invest In Cryptocurrency

October 23, 2023
The Rise of Decentralized Finance (DeFi) And What It Means for You
Articles

The Rise of Decentralized Finance (DeFi) And What It Means for You

September 27, 2023
Exploring Other Blockchain Types Private, Hybrid, and Consortium Blockchains
Articles

Exploring Other Blockchain Types: Private, Hybrid, and Consortium Blockchains

September 27, 2023
Crypto Bear Market
Articles

Why Bear Market Is the Best Time to Buy Bitcoin (Investment Options)

September 11, 2023
Load More
  • Trending
  • Comments
  • Latest
Weekly Crypto Rundown by BoundlessPay

Last Week in Crypto: A Rundown of Major Stories in the Crypto Space Last Week

August 23, 2023
Crypto Bear Market

Why Bear Market Is the Best Time to Buy Bitcoin (Investment Options)

September 11, 2023
BoundlessPay N1million August Bounty

BoundlessPay N1million August Bounty

August 23, 2023
Last week in crypto

Last Week in Crypto: A Rundown of Major Stories in the Crypto Space Last Week

September 4, 2023
Qitmeer Network (MEER)

BoundlessPay Announces Strategic Partnership with Qitmeer Network

3
2FA setup

How to Setup 2FA (Two-Factor Authentication) On BoundlessPay

1

AI TO REPLACE MANY JOB ROLES

0

Most Compliance-Focused Crypto Exchange of the Year 2022 – BOUNDLESSPAY

0
5 ways to invest in cryptocurrency

5 Ways to Invest In Cryptocurrency

October 23, 2023
Last week in crypto

Last Week in Crypto (10/09/2023); Crypto News Roundup

October 10, 2023
The Rise of Decentralized Finance (DeFi) And What It Means for You

The Rise of Decentralized Finance (DeFi) And What It Means for You

September 27, 2023
Exploring Other Blockchain Types Private, Hybrid, and Consortium Blockchains

Exploring Other Blockchain Types: Private, Hybrid, and Consortium Blockchains

September 27, 2023

403 Oxford Building, Jumeriah Village Circle (JVC), Dubai, United Arab Emirates.

 

1st Floor 2 182 – 184 Edgware Road London, W2 2D

Categories
Altcoins Announcements Articles Bitcoin Blockchain Blockchains DeFi How to Knowledge News News - Editors Pick News - Latest News - Top Stories Stablecoins Technology What is
Facebook Twitter Instagram Linkedin Telegram
  • About
  • FAQ
  • Support Forum
  • Landing Page
  • Buy JNews
  • Contact Us

© Boundless Nexus Ltd, All Rights Reserved

No Result
View All Result
  • Home
  • News
    • News – Latest
    • News – Top Stories
    • News – Editors Pick
    • Heatmap
  • Articles
    • Altcoins
    • Bitcoin
    • Blockchain
    • DeFi
    • Finance
    • Metaverse
    • NFT
    • Regulation and Policy
    • Stablecoins
    • Web3
  • Announcements
  • Knowledge
    • How to
    • What is
    • Crypto Guides

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In