Young Platform

Fantom (FTM) lands on Young Platform!

Elisa Campaci

April 20, 2022

2 min

From today, FTM – the token of Fantom, a scalable platform suitable for designing dapps – is available on the Young Platform exchange

Yet another Ethereum Killer? Fantom aims to be much more! Its unique consensus mechanism guarantees speed and scalability. Discover FTM, the new cryptocurrency on Young Platform!

What is Fantom?

Fantom is a blockchain platform ideal for developing any kind of dapp. Its network consists of a main layer, called Opera, and many independent satellite chains linked to each other and to the “mother” layer, whose security and speed they exploit. Fantom is therefore a multichain, modular and interoperable network. On Fantom, you can build customised chains and dapps for any requirement. The strength of this blockchain is its scalability and speed, with Fantom processing more than 10,000 transactions per second.

Fantom has been operational since 2019 and is designed as an alternative to Ethereum. Opera’s consensus mechanism is called Lachesis and it combines Proof-of-Stake with DAG. This optimises the recording of information by the network nodes and, by eliminating irrelevant data, speeds up the processes of the entire system.

What is FTM?

FTM is Fantom’s native coin and has several functions. FTM is used for staking, which ensures the functioning of the blockchain itself, and to manage the governance of the project. In general, FTM is used to make transactions, pay network fees and use all DeFi services offered by the ecosystem. From NFT “minting” to yield farming operations.

Why did we choose FTM?

Fantom’s network is constantly expanding thanks to the numerous projects that choose it as their basic infrastructure and ecosystem. There are currently more than 200 dapps active on Fantom, including Solidly – created by Andre Cronje, the legendary “godfather” of DeFi – and Stader, which allows liquid staking of FTM. In general, Fantom hosts several state-of-the-art solutions in the field of decentralised finance.