Fantom (FTM)

The exchange rate of one FTM at 13:36 UTC is 0.8739$

Chart | Average rate

As the crypto industry develops, systems with a high level of scalability become more and more popular, which is one of the main problems of the Ethereum platform. One such project is “Fantom”, which has become very common among developers due to its fast transactions and support for the EVM virtual machine.

The founders of the platform are considered to be Ahn Byung Ik and Andre Cronje, who were initially focused on creating a digital ecosystem for smart cities, but now, due to the lack of bandwidth of the crypto network in question, work is underway to introduce Fantom into the areas of DeFi financing, logistics supply chains goods, tokenized assets and CBDC.

In the meantime, instead of the traditional blockchain, this mechanism uses acyclic graph technology, allowing transactions to be processed in parallel at a speed of about 4500 TPS on many computers that report transaction data to nearby nodes.

The native currency “FTM” is used to gain voting rights, network fees, and secure DeFi loans, with sales of these coins during the ICO in 2018 bringing in about $40 million, which were used to further develop the project.

One of the highlights of the last month in the Fantom infrastructure is the launch of a £370 million incentive program to support developers of various models of the GameFi app, which is a global decentralized gaming hub. Also, this software module includes DeFi finance and non-fungible NFT tokens that function in online games built on the blockchain. Moreover, the decentralized marketplace “X.xyz” was recently launched, allowing all participants to exchange unique NFT tokens.

Now the FTM cryptocurrency is in the TOP-30 of the CoinMarketCap platform with a market capitalization of about $8.5 billion, and for financial transactions with this asset, you can use many cryptocurrency exchanges, including FTX, Gate.io, Binance, Uniswap, KuCoin, Bitfinex, LBank, Sushiswap, Indodax, ProBit Global, AscendEX, etc.

As a result, it is worth noting that the Fantom platform has great prospects due to the support of the Ethereum cryptosystem and a well-thought-out management mechanism; however, its architecture remains highly centralized, which scares off institutional investors, but at the same time attracts government institutions from different countries planning to create official CBDC currencies in the future.