What is Fantom FTM?
Fantom or FTM is the first cryptocurrency project to introduce DAG into its ecosystem. Time will tell how effective this approach will be. For consensus, the Lachesis protocol is built into a separate OPERA blockchain. Thanks to the OPERA chain, which contains most of the nodes, transactions become faster, to the point of being processed instantly. As the network grows, so does the number of nodes, but the design used in FTM makes the blockchain infinitely scalable. It turns out that an increase in the number of users does not slow down, but speeds up the blockchain.
What role does the FTM token play?
The FTM token acts as the internal currency on the Fantom platform. It is used to pay transaction fees and incentivize network participants
This can be useful in almost any industry where scalability is important. For example, financial institutions, e-commerce, logistics and supply chain, telecommunications. In addition, the Fantom cryptocurrency may be of interest to developers of decentralized applications.
How to Buy FTM and Where to Store it?
The coin is supported by a large number of centralized and decentralized crypto exchanges, in particular: Binance, Bybit, OKX, Huobi, MEXC, Bitrue, Kucoin, Gate.io, Bitfinex, Spookyswap, and more.
Before the launch of the mainnet, FTM tokens can be stored in any wallet that supports the ERC-20 standard (desktop, web, mobile, hardware). But you can also use a specially designed Fantom wallet. It is also multi-platform and provides features such as local key storage, QR code scanning, fast transactions in a couple of taps.
Insights into Its Investment Dynamics
The key feature of Fantom is that it can process over 300,000 transactions per second (TPS). For comparison, this indicator in the Bitcoin network is 7, and in Ethereum it is 20-30. In terms of the number of TPS, Fantom is even ahead of Visa. This makes it the fastest blockchain on the market.
However, there is one caveat: the maximum speed recorded so far was 146 tks/s. This still puts Fantom in the top ten, but in fact it is still far from solving the problem of scaling cryptocurrencies.
Image source: coinmarketcap.com
Price of FTM today is 0.36 and that’s up 9.28% in one day. Experts believe that Fantom FTM tokens can now perform very well as a short-term investment, since there is still unsatisfied demand for them after the crowdsale. When it comes to long-term investing, the future is bright and it’s a matter of time depending on when the team will be able to accomplish everything described in the White Paper. At the moment, we can say that the project is still at an early stage of development. But if the promises are fulfilled, then the potential will increase.