What is Fantom?
It is a platform to create smart contracts and develop decentralised financial services. Its peculiarity is the consensus mechanism, called Lachesis, which combines Proof-of-Stake with DAG. Its smart contracts make use of the Ethereum Virtual Machine (EVM), which means that Fantom is fully compatible with Ethereum and therefore with all Dapps developed in Solidity.
Why buy Fantom?
The ecosystem coin is called FTM and is native to the Fantom platform (although there are also ERC-20 and BEP-20 versions). What is the Fantom FTM token used for? To underpin the network tokenomics: specifically, it enables validators to carry out staking, participate in governance and users to pay fees on transactions. In all, there are 3.175 billion FTMs, distributed mainly between initial investors (40%), advisors (15%) and rewards to be distributed until 2024 (31%).
How was it created?
The Fantom Foundation was founded by South Korean computer scientist Dr. Ahn Byung Ik, in 2019. The project was then carried on by Michael Kong, current CEO, director David Richardson, Michael Chen, Ashton Hettiarachi and Fred Pucci. Over time Fantom has benefited from the technical advice of Andre Cronje, famous and talked about creator of the yearn.finance protocol. Fantom currently boasts dozens of partnerships, integrations and collaborations with companies and institutions. From Travala to Ethereum Classic.
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