Ethereum is currently the undisputed leader of the decentralized space, however, multiple loopholes compelled the traders to look out for other options. And this is when many alternatives and some went long to be known as Ethereum-killers emerged within the crypto space. Fantom is one such blockchain that is viewed as a good alternative for the Ethereum blockchain, which is an open-source smart contract platform for digital assets and DApps.
With the strong fundamentals and clear roadmap, the asset showcases its capability to thrive in the crypto space being one of the tough competitors for Ethereum. The native token of Fantom, FTM, was first introduced through token sales in 2018 where-in it raised nearly $40 million.
What is Fantom-In Brief
Fantom is a decentralized, permissionless, and open-source platform that is highly scalable and secured with smart contracts. It is designed to overcome the limitations of the traditional blockchains within the space. Fantom intends to provide high throughput transactions with less finality time with bank-grade security. It does not compromise security and the decentralized structure to make itself more scalable.
Interesting Fact: Fantom recorded more than 3 million transitions in May and was the fastest blockchain platform within the crypto space
The Korean-based organization was founded by Dr. Ahn Byung Ik, and most of the team is spread across the world, working remotely. The platform is built to be highly compatible with the Ethereum blockchain and uses a similar Proof-of-stake algorithm but with some improved features. It uses a leaderless PoS structure to offer exceptionally higher levels of security
The Fantom in brief does not only concentrate on only performance but also offers complete customization of blockchains for digital assets with different characteristics, tailored according to their use cases.
How Does Fantom Work?
Most of the blockchains which are decentralized and work to build smart contracts work on the Proof-of-Stake consensus algorithms, but with improved features. Fantom uses the Lachesis PoS mechanism that enables the transaction to be fast, secure, and scalable. This is layer one of the blockchain technology stack which can be plugged into any distributed ledger.
The mechanism uses a DAG-based algorithm which is very tough to be predicted to achieve practical Byzantine fault tolerance(BFT). The Fantom mainnet, Opera, is compatible with EVM (Ethereum Virtual Machine) to get connected with the DApps within minutes. Using the Lachesis mechanism, Fantom promises the finality of the high-capacity transactions within a couple of seconds.
Will Fantom(FTM) Price Hit () in 2022?
Fantom’s (FTM) price since its inception in 2019 maintained a very silent trend until it got a major push in the beginning of 2021 and marked its initial highs very close to $1. Woefully, the May crash dragged the price around $0.1 and after a minor consolidation, the asset resumed with its bull run yet again. The second phase of the bull run was pretty monstrous as the FTM price not only bragged in the $1 milestone but rallied further to hit its ATH around $3.4.
However, ever since then the asset maintained a notable downtrend as the bears got aggravated, but remained well placed above $1. Recently, since the last few days of Q4 2021, the asset regained extreme bullish momentum and ignited with a strong uptrend. It did manage to surge beyond $3 but the bears yet again pulled the price down around $2.7 at the press time.
Since a previous couple of surges, the FTM price is constantly following a pattern of spiking high and consolidating. In other words, forming a bull flag, which usually results in a remarkable uptrend ahead. And if the asset continues with the pattern, the price may not only hit the ATH but also achieve higher levels beyond $4 soon.
|Fantom Predictions||Potential High||Potential Low|
|Next 5 Years||$20 – $28||$18 – $22|
Factors Affecting Fantom(FTM) Price Today
80+ DApps Deployed on Fantom
The Fantom ecosystem is growing at a rocket speed as its home to more than 80 projects. These projects include DEX’s, cross-chain bridges, lending & borrowing, yield optimizers, NFT platforms, Tools, and Wallets.
Build & Stake on Fantom to earn FTM
One can build their applications on Fantom as it’s an open-source code that is fully compatible with EVM. On the other hand, the FTM tokens can be staked on the network and earn rewards. A diverse quality of Fantom staking is one can calculate the estimated rewards he/she can earn before proceeding. Just like any EMI calculator, FTM provides a reward calculator.
Faster Transactions Within Seconds
Fantom can handle thousands of transactions every second, where-in the finality time of these transactions do not exceed one or two seconds. Interestingly, the transaction fees are also very negligible, almost a fraction of a cent that stands Fantom away from the crowd.
Partnerships & Collaborations
Being fully compatible with EVM, Fantom has collaborated with various other oracles like the oracle-leader Chainlink, Ren, Band Protocol, The Graph, Waves, etc for maximum flexibility.
The platform offers the users their native wallet to hold Opera FTM tokens. The wallet runs on all the platforms like Windows, macOS, Linux, iOS, and Android.
Where & How to buy Fantom(FTM)
Fantom(FTM) is widely available on most platforms around the world. In India, you can buy Fantom on CoinDCX and enjoy maximum benefits with a unique trading experience. We are the top crypto exchange in India and also the very first crypto unicorn in the country. Moreover, along with a better trading experience, you can get access to hundreds and thousands of crypto assets under one roof.
If you have not registered yet, then download the CoinDCX mobile App on your smartphone now. To register, keep your personal and bank details ready and also complete with the KYC process. And done, fund your wallet and start your trade!!
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