What is FTM coin? A comprehensive introduction to the FTM coin project in one article

Leveraging Fantom's scalable blockchain and low transaction fees, FTM coin facilitates fast and economical payments, DeFi applications, and network governance.

Oct 25, 2024 at 12:08 pm

FTM Coin: A Comprehensive Overview

1. What is FTM Coin?

FTM coin (Fantom) is the native cryptocurrency of the Fantom blockchain, a proof-of-stake network designed for high scalability and transaction speeds. Launched in 2018, Fantom aims to provide an alternative to Ethereum with lower fees and faster transactions.

2. Features of FTM Coin

• Speed: Transactions on Fantom are processed within seconds using a Directed Acyclic Graph (DAG) consensus mechanism called Lachesis.
• Scalability: Fantom claims to handle millions of transactions per second, making it suitable for high-volume applications.
• Low Fees: Transaction fees on Fantom are typically very low, making it cost-effective for users and developers.
• Composability: Fantom supports smart contracts and provides an ecosystem of decentralized applications (dApps).

3. Use Cases for FTM Coin

• Payment Platform: FTM can be used as a medium of exchange for goods and services within the Fantom ecosystem.
• Staking: FTM holders can stake their coins to earn rewards and help secure the network.
• Governance: FTM holders can participate in governance votes to determine the direction of the Fantom project.
• DeFi applications: FTM is used to access and interact with a range of DeFi applications built on the Fantom blockchain.

4. Fantom Blockchain Technology

• Lachesis Consensus: Fantom uses Lachesis, a DAG consensus mechanism that provides fast and secure transaction processing.
• Opera Chain: Fantom's core protocol, Opera Chain, is designed for speed and scalability.
• Virtual Machines: Fantom supports both Ethereum Virtual Machines (EVMs) and Fantom Virtual Machines (FVMs), allowing developers to deploy both Ethereum and native Fantom dApps.

5. FTM Coin Supply and Distribution

• Total Supply: Fantom has a limited total supply of 3.175 billion FTM.
• Initial Distribution: Approximately 40% of the FTM supply was initially distributed through a token sale in 2018.
• Remaining Supply: The remaining FTM supply is distributed through staking rewards, community initiatives, and other channels.

6. FTM Coin Price and Performance

FTM coin has experienced significant price fluctuations since its launch. The price reached an all-time high of $3.48 in October 2021. However, it has since corrected and as of June 2023, trades around $0.25.

7. Conclusion

FTM coin is the native cryptocurrency of the Fantom blockchain, a platform designed for high scalability and transaction speeds. With its competitive features and growing ecosystem, FTM has the potential to become a leading force in the blockchain industry.