What is Fantom (FTM): Complete Guide for Beginners and Investors
Fantom is a decentralized smart contract platform for DApps and digital assets, aimed at solving the scalability issues associated with existing blockchain technologies. Fantom has attracted significant attention with its high-performance, scalable, and secure architecture.
Fantom Foundation was launched in 2019 by Dr. Ahn Byung Ik. It has been developed to overcome limitations in transaction speed and scalability on blockchain networks. Fantom's DAG (Directed Acyclic Graph) technology allows it to process thousands of transactions per second. Key milestones include partnerships with various governments for smart city solutions and the deployment of Fantom Opera, a mainnet that enhances compatibility with Ethereum.
TECHNOLOGY
Fantom uses Lachesis, an advanced DAG-based asynchronous Byzantine Fault Tolerant consensus algorithm that provides high throughput and instant finality. This means transactions are confirmed in seconds, and low fees make it suitable for a wide range of applications and industries.
USE CASES
Fantom is used for a broad array of applications, particularly where fast and cost-effective transaction solutions are critical. Some use cases include: Smart contract execution on its Opera Chain; DeFi applications; Cross-chain interoperability; Supply chain management and real-time data processing.
FORECAST
Fantom is regarded as a versatile and scalable blockchain solution. Its ability to handle vast numbers of transactions swiftly and economically positions it favorably for future adoption. While regulatory developments and competitive technologies influence its market potential, the continued expansion in the DeFi sector could further drive demand for FTM.
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