Kriptoks

Fantom is a decentralized, permissionless network that provides developers with a scalable solution for building and launching decentralized applications (dApps) and cryptocurrency projects with smart contract capability. As an independent blockchain network, Fantom is often seen as an alternative to the Ethereum network and is popular with decentralized finance (DeFi) users, enterprise applications, and Ethereum Virtual Machine (EVM) developers.

The Fantom network uses an open-source, fully permissionless mainnet called Fantom Opera, which employs an Asynchronous Byzantine Fault Tolerance (ABFT) consensus mechanism called Lachesis. This allows nodes within the network to reach consensus independently, without the need to agree on finalized blocks, resulting in fast transaction confirmation and finalization times.

The native token of the Fantom network is FTM, which has three primary use cases. It can be used to pay network fees when transacting or interacting with smart contracts on the Fantom Opera mainnet, staked by users to become validators (with faster nodes receiving more rewards), and used in governance on the blockchain, including voting on proposals that affect network decisions.

One of the key benefits of the Fantom network is its low transaction fees and exceptional speed, which make it a popular choice for dApp development. For example, yield farming can produce higher returns on Fantom due to the ability to compound yield faster and at significantly lower fees. The Fantom blockchain is also EVM-compatible, making it easy for developers to port their smart contracts and projects from Ethereum to Fantom Opera.

The price of FTM is updated live on Kriptoks, a leading cryptocurrency exchange, allowing users to track the value of their FTM and make informed decisions about their investments.

Overall, Fantom is a highly scalable decentralized project that offers developers and users a fast, efficient, and cost-effective alternative to other blockchains. Its native token, FTM, has a range of use cases within the Fantom network and is an important part of the overall ecosystem.