Current Fantom (FTM) Price Analysis
Fantom represents a cutting-edge smart contract framework that employs its unique consensus algorithm to deliver decentralized finance (DeFi) solutions to developers. Alongside its native cryptocurrency, FTM, Fantom aims to address issues prevalent in smart contract platforms, particularly transaction speeds, which developers have reduced to under two seconds. Established in 2018, the Fantom Foundation oversees the product suite, positioning Fantom as an open-source, decentralized platform for DApps and digital assets, serving as an alternative to Ethereum.
Understanding Fantom’s Vision and Technology
The core mission of Fantom is to resolve the limitations of earlier blockchain generations while maintaining an optimal balance between scalability, security, and decentralization. To achieve this, the project offers a suite of tools designed to facilitate the integration of existing DApps, complemented by a comprehensive staking rewards system and built-in DeFi tools.
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As a Layer-1 blockchain, Fantom incorporates a distinct consensus layer known as Lachesis. This custom-built consensus mechanism enables the development of DeFi and other smart contract-based services. Lachesis also provides security for additional layers, such as Opera, Fantom’s EVM-compatible smart contract chain.
Fantom’s Performance and Transaction Efficiency
One of Fantom’s standout features is its exceptional performance, characterized by rapid transaction processing. This allows for the settlement of thousands of transactions per second, typically within one to two seconds, at a minimal cost per transaction. Consequently, Fantom delivers superior scalability at a significantly reduced expense.
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