What Is FTM Coin?
Fantom is a high-performance, scalable, and modular smart contract project. It uses Fantom Virtual Machine to port apps based on Ethereum and has its own cryptocurrency FTM.
Fantom was founded in January 2018, and soon Lachesis, a consensus algorithm was released. The FTM coin itself got available for trading at the end of the year.
Soon the project started partnering with major Fintech companies. For example, in September 2020, Band oracles got live on Fantom, this project is aimed at connecting real-world information to smart contacts. Later, FTM coin holders got access to booking hotels and tickets on Travala.
The project is also aimed at solving medical-related issues. It's been cooperating with Royal Star, one of the leading pharmaceutical companies in Afghanistan. The major goal of this partnership is to decrease drug forgery.
In February 2021, Fantom, through a Yearn.finance representative, announced the creation of a cross-chain bridge. It allows ETH users to move ERC-20 coins into the FTM network to get unlimited access to cheap and ultra-fast transactions.
FTM Crypto Structure
The Fantom structure includes three levels:
- Bottom. It is named OPERA. It develops events and reaches consensus across all nodes via Lachesis. Transactions are confirmed through a direct acyclic graph. As a result, nodes process transactions asynchronously.
- Medium. This level is called OPERA Ware Layer. It is used for issuing payments, remunerations, and writing Data History.
- Upper. It provides access to public APIs for applications to use the middle level.
While Ethereum has limited ability to transfer previous transactions, Fantom solves this problem with Story Data. It allows you to track all previous transactions.
Where FTM Token Is Used?
Fantom token is mainly used to place and reward witness nodes taking part in network verification. Also, you can use it for other purposes, including:
- To conduct low-cost transactions and pay transaction fees;
- To connect access to the platform through various Fantom applications and smart contract options.
The need for FTM token must get higher as more people join the network and the transfers get more frequent.
Fantom Crypto Wallet
Developers launched their Fantom crypto wallet. This program is completely private and can be installed on Windows, macOS, and Linux.
You can use this wallet in different ways. Except for keeping your tokens in a safe place, you can stake and receive coins. This wallet is also available for staking and getting rewards for it.
For bigger sums, it's better to use a hardware wallet. In this case, download the Fantom Ledger wallet app from Ledger Live.
FTM Coin Price Prediction
FTM crypto developers are constantly improving their project. In April 2021, they introduced Go-Opera to the audience. This tool aims to make the network more reliable and increases the P2P synchronization speed.
Soon the team is going to perform a migration call. This update will decrease transaction confirmation time, and it'll be possible to claim staking rewards in seconds.
All these improvements make investors think about where to buy Fantom crypto and attract new partners. The most recent investment was from HyperChain Capital that bought FTM tokens and paid $15 million for the deal.
If the project keeps improving, the Fantom price will grow. For example, DigitalCoinPrice experts say it'll be almost $0.45294545 in 1 year's time.
Today FTM price is 0.2346 USD.
Many investors and companies believe in the Fantom crypto project. Its main advantages, such as high speed, safety, and scalability, make it more reliable as a long-term investment.
How To Get FTM?
One of the ways to get tokens is to earn staking rewards using the wallet. A user has to transfer his coins to his Opera address, select a validator, and lock up Fantom (FTM) for at least 2 weeks.
Where To Buy Fantom Crypto?
Yet, if you think about where and how to buy FTM coin, use exchanges, such as StealthEX. This platform allows you to exchange other coins on FTM crypto with no need to provide a lot of information.
To buy FTM crypto just go to StealthEX and follow these easy steps:
- Choose the pair and the amount for your exchange. For example, BTC to FTM.
- Press the “Start exchange” button.
- Provide the recipient address to which the coins will be transferred.
- Move your cryptocurrency for the exchange.
- Receive your FTM coins.
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.