What is Fantom Token (FTM)?
Fantom (FTM), launched in 2019, is a high-performance, scalable, and secure smart-contract platform. It is designed to overcome the limitations of previous generation blockchains and aims to offer improved transaction speed and reduced costs. Fantom’s architecture, based on the Lachesis consensus algorithm, enables much faster and cheaper transactions than traditional blockchains. This makes it an attractive platform for DeFi services, supply chain management, and other applications that require high throughput.
The FTM token, native to Fantom, is used for network fees, staking, and governance. Users can stake FTM to secure the network and participate in decision-making processes, thereby contributing to the platform's resilience and efficiency. Fantom’s emphasis on speed and scalability positions it as a competitive player in the blockchain space, especially for enterprises and developers looking for efficient decentralized solutions.