Fantom (FTM) is a decentralised acyclic graph (DAG) smart contract platform. DAG networks are specially-designed structuring tools used to record crypto transactions not in a blockchain format but in a vertices-and-edges format. This makes transactions easier to manage and optimise, increasing the network’s overall efficiency.
Fantom, as a network, lets users build NFTs and decentralised appl and provides smart contract solutions. Typically offering enterprises high-speed transaction services, Fantom specialises in getting blockchain transaction times down to a mere 2 seconds!
Fantom (FTM) uses a new and improved consensus mechanism to reduce transaction times and make smart contracts efficient. This mechanism, Lachesis, provides higher congestion handling capacity to the network while also improving PoS protocols. Fantom’s development team is looking to get into the decentralised solutions space with its motto, to “grant compatibility between all transaction bodies around the world.”
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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.
FTM cryptocurrency is the native token of the Fantom network, which uses smart contracts to create a cheap and efficient way to scale ledger transactions.
280 Cr. FTM
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