Fantom is the ultimate solution for building decentralized applications and services. Fantom’s native cryptocurrency, on-chain settlement, streamlined user experience, and robust features make it one of the most valuable blockchain platforms today. Fantom is designed to be fast, scalable, and developer-friendly. It allows you to build applications without worrying about scalability issues because it has been built from the ground up with that in mind.
FTM Tokens
FTM Tokens are the native tokens of Fantom. They are used to pay for all services on the platform and can be exchanged for other cryptocurrencies such as BTC, ETH, EOS, and more.
FTM tokens are used to support the development of Fantom and its ecosystem. You can use them to
- vote on proposals submitted by the community
- give your opinion about future developments or
- pay for services offered by third-party developers
FTM tokens will also be used to access the functionalities of the Fantom platform. You can pay for storage, computing power and other services offered by third-party developers.
The Fantom ecosystem consists of three main components:
- A storage blockchain:The storage blockchain is used to store data in a decentralized manner. It uses Merkle trees to ensure that the integrity of data is maintained even if there are malicious actors involved.
- A compute blockchain:The compute blockchain is used to provide computing power for the storage blockchain. It uses a consensus algorithm called Proof of Space-Time (PoST) which combines Proof of Space (PoS) and Proof of Time (PoT).
- An application layer:The application layer is where applications built on top of Fantom can be accessed by users.
Fantom Solutions
Fantom is designed to provide a flexible platform that can be customized according to the needs of enterprise clients. It provides the following solutions:
- Private Blockchain: This is used by enterprises who want to create their own private blockchain network with full control over all aspects such as node management, consensus algorithm and rules governing transactions.
- Public Blockchain: This provides access to public blockchains like Ethereum but does not allow any changes or modifications to be made by users.
Fantom Tools
- Fantom Wallet:Fantom Wallet is a secure and easy-to-use wallet that allows you to manage your tokens, cryptocurrencies and digital assets. Fantom Wallet provides a safe place for users to store their funds, send/receive payments and even participate in ICOs.
- FTMScan:The FTMScan is a multi-purpose tool that allows users to scan, extract and store data from Fantom tokens. This can be used for research purposes or to look up information about specific tokens. The FTMScan also has the ability to retrieve information from the Fantom blockchain such as transaction history and token balances.
As you can see, the Fantom project has a lot of potential. The team behind it is hard at work to ensure that their vision comes to fruition and they have already made strides in this regard. The blockchain is still in its early stages, so it will be interesting to see how everything plays out. You can check out the glossary of all the crypto terms here.