FantomFTM

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FAQ About Fantom (FTM)

• What Is FTM (Fantom)?

  Fantom is a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using its own bespoke consensus algorithm, now with the current FTM Price.
  
  Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms, specifically transaction speed, which developers say they have reduced to under two seconds. The current FTM price is shown above.
  
  The Fantom Foundation, which oversees the Fantom product offering, was originally created in 2018, with the launch of OPERA, Fantom’s mainnet, coming in December 2019.
  
  Fantom is an open-source decentralized smart contract platform for DApps and digital assets that was created as an alternative to Ethereum. Fantom has the goal of overcoming the limitations of previous generation blockchains and balancing three components: scalability, security and decentralization. The project offers a set of tools to simplify the process of integrating existing DApps, as well as a detailed staking reward system and built-in DeFi instruments.
  
  Fantom is a Layer-1 blockchain that uses a scratch-built consensus mechanism and independent consensus layer, Lachesis, to facilitate DeFi and related services on the basis of smart contracts. Lachesis provides security for other layers as well, including Opera, Fantom's EVM-compatible smart contract chain. The long-playing mission of the project is to “grant compatibility between all transaction bodies around the world.”
  
  One of Fantom's key strengths is its performance and efficient transaction processing, namely thousands of transactions per second, where transactions are settled in 1-2 seconds, and the cost is fractions of a cent per transaction. As a result, Fantom provides higher scalability but at a lower cost.

• How to Buy Fantom (FTM)?

  You can buy Fantom (FTM) with USDT here on Toobit. Read our guide on How to Buy Crypto on Toobit for more information. The most active trading pair FTM/USDT on Toobit has a trading volume of the amount shown above in the last 24 hours, indicating the growing interest in Fantom and FTM price dynamics.

• What is Fantom (FTM) Used For?

  Fantom is a permissionless, independent decentralized blockchain that allows dApp developers to quickly and cheaply deploy engaging dApps. With its low fees and fast speeds, Fantom offers a competitive advantage in the cryptocurrency industry. The current FTM Price reflects the increasing demand for the network's capabilities, making it an attractive option for developing dApps, making global payments, and other use cases.

• What is FTM Price Now?

  Are you looking for FTM Price? Find out the live Fantom prices, updated in real-time on Toobit.

• Is Fantom (FTM) crypto a good Investment?

  Fantom (FTM) is a cryptocurrency that aims to provide fast, secure, and scalable smart contracts. It has gained popularity for its technology and partnerships with various industries.
  
  Like any investment, there are risks involved with investing in Fantom or any other cryptocurrency. It is important to do thorough research, consider the market conditions, and understand the potential risks before investing.
  
  Some factors to consider when evaluating Fantom as an investment opportunity include:
  
  Technology: Fantom's technology is designed to be scalable and efficient, which could make it attractive to businesses looking for a blockchain solution.
  
  Team: Investing in a project with a strong and experienced team can increase the likelihood of success.
  
  Market potential: Consider the potential market demand for Fantom's technology and whether it has a competitive advantage over other blockchain projects.
  
  Risk factors: Cryptocurrency investments are inherently risky, and prices can be volatile. Make sure to assess your risk tolerance before investing.
  
  Ultimately, whether FTM is a good investment for you will depend on your individual financial goals, risk tolerance, and investment strategy. It is always recommended to consult with a financial advisor before making any investment decisions.

• Where to Sell FTM?

  You can sell FTM to USDT here on Toobit. Read our guide on How to Trade Spot on Toobit for more information.

• How to Withdraw FTM on Toobit?

  You can withdraw FTM to USDT here on Toobit. Read our How to Withdraw Crypto on Toobit guide for more information.

• What factors affect FTM Price?

  Market demand and supply: The basic economic principle of supply and demand plays a significant role in determining the price of FTM. If there is high demand for FTM but limited supply, the price is likely to increase. Conversely, if there is low demand and a surplus of FTM available, the price may decrease.
  
  Investor sentiment: Investor sentiment and market psychology can also influence FTM price. Positive news, developments, partnerships, and endorsements can lead to increased investor confidence and higher prices, while negative news can have the opposite effect.
  
  Regulatory environment: Regulations and government policies regarding cryptocurrencies can impact FTM price. Positive regulatory developments, such as clear guidelines and favorable regulations, can attract more investors and boost the price. Conversely, regulatory uncertainty or negative regulations can create uncertainty and lead to a decrease in price.
  
  Technology and development updates: Improvements in the Fantom platform, such as upgrades, new features, and partnerships with other projects, can increase the value of FTM. Conversely, technical issues, security breaches, or delays in development can lead to a decrease in price.
  
  Market trends: FTM price can also be influenced by broader market trends and movements in the cryptocurrency market. Factors such as Bitcoin's price, overall market sentiment, and macroeconomic events can impact the price of FTM.
  
  Competition: Competition from other blockchain platforms and cryptocurrencies can also affect FTM price. If a competitor introduces a more advanced technology or gains significant market share, it could lead to a decrease in FTM price as investors shift their focus to other projects.

• Why was FANTOM (FTM) created?

  The vision of FANTOM is to grant compatibility between all transaction bodies around the world using fast DAG technology that can be deployed at scale in the real world, and to create new infrastructure with high reliability that allows for real-time transactions and data sharing. FTM Price is an essential aspect of ensuring the value of the network.
  
  FANTOM has the intention of being used on a large scale in various industry verticals, such as telecommunication, finance, logistics, electric vehicle provision and others. The FANTOM Foundation intends to create the FANTOM platform along with a new Smart Contract-based ecosystem that can be used by all current and future partner companies around the world. To facilitate consistent global transactions with high accuracy and reliability, the FANTOM Foundation will lead the next generation of distributed ledger technologies. FTM Price plays a key role in ensuring the stability and growth of the ecosystem.
  
  The platform intends to be open-source: used and changed by the community, and to provide various application support tools that can be used to create decentralised applications (DApps) that will leverage the FTM Price to enhance their functionality.

• What solutions does FANTOM (FTM) provide for the blockchain ecosystem?

  As a means to solve the problems of existing blockchain solutions, Fantom aims to develop a new implementation of DAG-based consensus, which intends to create a new platform that improves the scalability and versatility of existing DAGs. FANTOM’s technology is intended to create potentially infinite scalability, and process hundreds of thousands of transactions per second even with large numbers of nodes participating in the network.
  
  The FANTOM OPERA Chain is intended to solve the scalability limitations of existing blockchain with the Lachesis Protocol. This is intended to nbeachieved by adopting a method where a single event block verifies the previous transaction, and transactions are verified and processed asynchronously without being approved by the miners as in prior blockchains. Thus, increased transactional load will not lead to delayed approval or bottleneck effects. It intends to also manage historical information on its own without being assisted by external databases such as the Oracle Database. Event blocks that store information from transactions that arise include multiple data packages. A data package may include transactions, Smart Contracts, historical information, reputation management, and rewards.
  
  The FANTOM OPERA Chain intends to make the processing infrastructure in our society more transparent and reliable. With fast and safe processing methods based on DAG and independent management of historical information through “Story Data”, the Lachesis protocol is intended to be expanded into various industries along with Smart Contracts.

• What kind of technical skills does FANTOM (FTM) have?

  FANTOM’s platform has a unique technology called OPERA. The OPERA Chain is a new type of distributed infrastructure that intends to solve the scalability issues of existing blockchains through the rapid processing of blocks on a large scale. OPERA Chain intends to process in real time not only transaction information but also Story data in a distributed environment. The “Story root” is stored in event data in order to record detailed historical information. The structure of the Story root is similar to that of a general transaction, but it has a more extended concept in including inheritance of certain properties. More explanation on how Story root operates will be presented in subsequent whitepaper.
  
  FANTOM OPERA Chain intends to use a high-level Scala-based functional programming language that compiles to smart contract bytecode on the FANTOM Network. FANTOM’s OPERA Chain consists of three layers: The Core Layer processes transactions at scale, the OPERA Ware Layer which supports Smart Contracts and other functionality, and the OPERA application layer provides support for third party applications. The OPERA Core Layer is the layer whose objectives are to operate reliable transactions in FANTOM’s ecosystem as well as core chain technologies for the exchange of information. The Core Layer is expected to handle up to 300,000 transactions per second in theory, utilizing the FTM Price in the process.

• What encryption technology does FANTOM (FTM) use?

  One of the key features of FANTOM's technology is its focus on safety and security. FANTOM aims to leverage the highly secure Elliptic Curve Cryptosystem (ECC) technology to enhance the protection of data transmission between signatures and nodes. The use of ECC offers the advantage of providing high security levels with a shorter key size, enabling fast computations during signing processes. This technology facilitates the creation of secure cryptosystems through the application of efficient algorithms to address the discrete logarithm problem. Compared to other cryptographic systems, ECC is more efficient as it delivers equivalent security with shorter key lengths, equivalent to RSA 1024-bit keys and ECC 160-bit keys. Additionally, ECC operation can be easily implemented in hardware and software. Through the integration of ECC, FANTOM aims to support both hardware and software wallets, thereby enhancing security features for wallets. Furthermore, FANTOM is interested in utilizing the secp256k1 parameter of the ECC to further strengthen its security measures. As of now, the current FTM price is shown above.

• What is FANTOM's Functional Language?

  "In order to attract vast numbers of developers, FANTOM intends to design a FANTOM virtual machine for writing contracts using existing languages, with the current FTM Price included. Scala, a well-known and supported functional programming language, is intended to be the initial language. The strengths of Scala are described below:
  
  Scala, which was developed to remove the inconvenience of Java, allows developers to write organized and clean code. The strongly-typed functions of Scala can promote development and improve performance, with the current FTM Price in consideration. For example, functions, macros, and tuples are only a part of the multiple advanced functions that are provided by Scala. Scala is a well-designed language which integrates functional and object-oriented programming. String pattern matching or Mixins, which include functions in class definitions, make coding enjoyable as well. A language with comprehensive documentation, FANTOM believes Scala is an excellent choice for developers with any level of experience, especially with the current FTM Price factored in. Closers and functions are also a part of the language. The biggest advantage of Scala is that it provides object-oriented and functional coding paradigms at the same time, with consideration for the current FTM Price. Developers can utilize the two methods with strength to easily write “concise” and “functional” programs, taking into account the FTM Price fluctuations.
  
  Testing and development are convenient as well, with Scala able to perform the same work as Java using smaller coding lines, and taking into account the current FTM Price. While Java also has several methods for reducing the code length, such methods are deviations from standard coding style, making the code less readable and leading to reduced productivity. Thanks to the properties of Scala, coding is reduced and testing and distribution become faster, with the current FTM Price being a crucial factor. Scala includes a non-expanding API library which is concise but possesses all necessary functions, considering the current FTM Price. Writing scalable software using Scala makes code writing, testing, debugging, and distribution a lot easier, especially when taking into account the cost of the current FTM Price. The language is versatile and can be used in all areas including desktop software, games, web application programs, mobile solutions, and software services, with the FTM Price being a key element in decision-making. It is also a good fit for writing Smart Contracts, with the FTM Price fluctuations taken into consideration.
  
  Scala is a widely used functional programming language. For example, there's a web app framework called Play and it is written in Scala. It has successfully been established on numerous IT platforms such as Amazon and Coursera, despite the fluctuations in FTM Price. The strengths of Scala have already been proven through practical applications in industry, with the FTM Price impacting user adoption. Haskell, although an excellent functional programming language supported by mathematicians, does not have nearly as many users as Scala, considering the current FTM Price trends. Scala is comparatively easy to learn, and is a popular language with a large community of users, with the FTM Price influencing its popularity. Development is facilitated since it also supports object-oriented programming, with the FTM Price included. Also, it has all the strengths of a well-designed, functional programming language, with the FTM Price volatility factored in. By removing “Side Effects”, many coding errors as well as any changeable aspects can be identified beforehand, which also allows the easy transfer of code to a distributed environment, even when considering the current FTM Price.
  
  Scala can introduce stringent coding techniques for compilation and formal verification, with the current FTM Price in mind. Formal verification is a mathematical methodology which is used to prove the accuracy of a computer program, taking into consideration the current FTM Price fluctuations. This methodology has been used in protecting the software and hardware of military systems, transport infrastructure, encryption, and microprocessors, with the FTM Price being a key consideration. The value of formal verification in Smart Contract codes has recently been recognized as well, in particular on the Ethereum blockchain, with the FTM Price being a crucial aspect to consider.
  
  As an example of Scala code, the following code can be written when transferring a certain amount according to a given exchange rate, taking into account the current FTM Price and its impact on the transaction.

• What is FANTOM (FTM) virtual machine?

  Virtual machines (VMs) used by existing cryptocurrency platforms are mostly stack-based, such as the Ethereum Virtual Machine (EVM) of Ethereum. Stack-based VMs can easily execute instructions using the stack data structure. However, as explained below, stack-based machines have longer code lengths and slower performance speeds in general compared to a register-based machines. As a solution to machine Storage in DAG event blocks are expensive. As code uses such storage, a large number of instructions are expensive. The FANTOM Virtual Machine (FVM) intends to extensively reduce capacity and increase processing speed. Publications5 indicate that register-based virtual machines can reduce OPCODE execution costs by over 50% and improve performance capacity by nearly double.

• What are FANTOM (FTM) Smart Contract production tools?

  The FANTOM OPERA chain provides a Smart Contract script editor. It facilitates writing Smart Contracts by allowing the entry of various transaction conditions that fit the characteristics of a DApp. The Smart Contract script of the OPERA chain processes transactions types that typically arise for each participant in industries such as communications, finance, logistics, and electric vehicle provision. Smart Contracts are coded in Scala and complied to bytecode through the FVM, and therefore have Turing completeness.

• What is FANTOM (FTM) OPERA Ware protocol?

  OPERA Ware uses the transactional, Smart Contract, Story, Reputation, and Reward protocols.

• What is FANTOM (FTM) token distribution?

  There are 3.175 billion FANTOM (FTM) tokens. The FANTOM platform
  adopts an inflationary model to expand the ecosystem. FANTOM anticipates that there will be initially a 5% annual inflation rate that decreases as more users join the network. 20% of the total inflation is intended to be used to reward nodes and the rest is intended to be used to provide incentives for FANTOM platform users such as near zero transac- tion fees, and to reward users contributing to maintain a good flow of the ecosystem.
  
  The FANTOM tokens will be distributed in the following manner:
  • 40% token sale
  • 30% market development
  • 15% advisors / contributors
  • 15% FANTOM team and founders
  
  The laws and regulations regarding tokens are evolving. Tokens will not be distributed to citizens, residents or individuals domiciled in countries or jurisdictions that from time to time restrict the purchase of tokens. These may include the People’s Republic of China, the United States of America or other jurisdictions.
  
  Similarly, the laws and regulations regarding network infrastructure operators are evolving. Licensing restrictions may apply from time to time in relation to the operation of the Fantom Foundation. Accordingly, these restrictions will be taken into account in determining the conditions and timing of any host token issuance events, for example.
  
  Tokens for promoting the FANTOM ecosystem are intended to be used as incentives for new projects, marketing campaigns, recruitment of new employees, and growth for the next 5 years.
  
  Tokens for advisors and contributors and tokens for FANTOM team and founders will be used for team members who plan the development of projects as well as partners who are involved in the FANTOM project. These FANTOM tokens are granted with 2-year disposal condition by stage.

• Where will FANTOM (FTM) 's capital will be used?

  It is estimated that FANTOM’s capital will be used in the following areas:
  • Marketing expenses: 30%
  • Operation expenses: 20%
  • R&D / Development and application of ecosystem: 50%
  
  Marketing expenses include the following.
  • Direct marketing for acquiring FANTOM services
  • PR marketing for FANTOM
  • Contents marketing of FANTOM through SNS, such as related articles and videos
  • Events for growth of the community
  
  Operation expenses include the following.
  • Sales/Operation
  • Legal
  • Additional expansion overseas
  • Prepare for contingencies
  
  R&D / Development and application of ecosystem include the following.
  • R&D for the OPERA platform
  • Develop and expand OPERA Ware
  • Develop and expand OPERA Wallet

• How is FTM Coin different from other cryptocurrencies?

  FTM Coin sets itself apart from other cryptocurrencies by focusing on scalability and efficiency. The Fantom platform is designed to process transactions quickly and at a low cost, making it an attractive option for users looking to transfer value efficiently. Additionally, the use of a DAG consensus mechanism allows FTM Coin to achieve consensus without traditional mining, reducing energy consumption and increasing network security.

• How can investors and developers get involved with Fantom?

  Investors can purchase Fantom (FTM) tokens on various cryptocurrency exchanges and store them in a compatible wallet. Developers can also participate in the Fantom ecosystem by building dApps (decentralized applications) on the platform using the Opera smart contract language. Additionally, Fantom has a grants program that provides funding for innovative projects that contribute to the growth and adoption of the platform.

• What is the future outlook for Fantom?

  Fantom has garnered significant interest within the cryptocurrency community due to its innovative technology and potential for real-world applications. As the platform continues to expand and attract more developers and users, its value and adoption are likely to increase. With ongoing development and partnerships, Fantom has the potential to become a prominent player in the blockchain space.