Price Data, Market Cap & News for Fantom ($FTM) Cryptocurrency

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Description of Fantom

Headlines are updated in real time. Click on a headline to the left to read the news.

A Brief Introduction to Fantom

Fantom is a unique cryptocurrency platform that uses a directed acyclic graph (DAG) smart contract platform to provide decentralized finance (DeFi) services. The platform aims to solve issues associated with smart-contract platforms, particularly transaction speed, which has been reduced to under two seconds. Fantom is an open-source decentralized smart contract platform for decentralized applications (DApps) and digital assets, created as an alternative to Ethereum.

The Creators and Major Contributors of Fantom

The Fantom Foundation, which oversees the Fantom product offering, was founded by South Korean computer scientist Dr. Ahn Byung Ik. The platform’s CEO is Michael Kong. The team behind Fantom has extensive experience in full-stack blockchain development and aims to create a smart contract platform that prioritizes scalability, decentralization, and security.

Fantom's Token Supply

Fantom's native utility token, FTM, powers the ecosystem and is used for payments, network fees, staking, and governance. 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 according to a schedule running through 2023.

Where to Purchase Fantom

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.

Common Uses of Fantom

Fantom is not just a fast, secure, and cheap payment platform that enables fast and secure payments at minimal cost. It also features on-chain governance where users vote with FTM tokens. Users have the right to express the degree of agreement/disagreement on a scale from 0 to 4. Fantom also offers a set of tools to simplify the process of integrating existing DApps, as well as a detailed staking reward system and built-in DeFi instruments.

Latest News and Developments

Fantom continues to make strides in the crypto world with its unique approach to transaction speed and security. Its bespoke consensus 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. Through token sales in 2018, Fantom raised almost $40 million to fund development. 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 in their wallet.

Artion: Fantom's New NFT Marketplace

The Fantom Foundation has launched a new NFT marketplace called Artion. This platform aims to reduce high fees for creators and is currently in beta testing. Artion is built on the Fantom network and is set to connect with popular wallets like Metamask and the Coinbase defi compatible wallet. This is a significant development in recent news about Fantom, as it marks the network's entry into the booming NFT market.

Fantom's Integration with CopperConnect

CopperConnect, a platform for institutional investors, has integrated Fantom into its platform. This development allows institutional investors to connect digital assets stored in Copper’s multi-party computation (MPC) wallets with decentralised applications (dApps). This integration is a significant boost for Fantom, enhancing its reputation for security and reliability.

Fantom's Ecosystem Developments

Recent news about Fantom includes a governance vote that saw a majority of community members decide to use a third of Fantom’s burn fees to fund new projects. This decision will help stimulate growth and innovation within the Fantom ecosystem. Additionally, Fantom has been making strides in the decentralized finance (DeFi) sector, with its network powering nearly $900 million in Total Value Locked (TVL) according to DeFi Llama.

Partnerships and Future Prospects

Unstoppable Domains has partnered with Fantom to simplify crypto transactions, which is expected to foster a more unified crypto ecosystem. Furthermore, Fantom has partnered with the Pakistan Private Educational Institutions Regulatory Authority (PEIRA) to upgrade their systems with blockchain technology. This partnership is a step towards rebuilding Pakistan's educational system and demonstrates the diverse applications of the Fantom network.