FTM is the native crypto of the Fantom smart-contract platform. Its main peculiarity is its very own consensus protocol, which is called Lachesis. It is a high-speed mechanism. Another important feature that deserves attention is the fact that Fantom allows the customization of blockchains for digital assets. Security of the network is provided by a leaderless Proof-of-Stake protocol.
Networks built on Fantom are independent of each other, however, they can easily interact. Each application has its own blockchain, this solves the problem of scalability. Fantom is open-source and permissionless. That means that anyone can use and customize blockchains, and anyone can run a node.
The FTM token has a number of use-cases. First of all, it serves the security of the network via the Proof-of-Stake. Another way to use FTM is for governance purposes. Stakers can make improvement suggestions and vote for decisions. It is also used as a method of payment within the platform, which requires very low fees, by the way. The last opportunity to spend FTM is to pay fees for transactions or smart contracts deployment.
FTM statistics
Let’s have a look at the FTM crypto details represented on the CoinMarketCap service:
Fantom Roadmap
The Fantom testnet was launched in 2018. It was a testnet for developers, and it was called Fantom Version 0.4.5 – rc.1.
The first layer of the Fantom blockchain was launched in 2019. It was the first version of the OPERA mainnet. It was EVM-compatible and supported Solidity smart contracts. The year 2020 brought mobile, desktop, and web versions of wallets.
The main ideas for improvements in the future are: to increase the number of transactions per second, to improve governance and support, add fast sync to allow Lanchesis nodes to sync faster, Integrate Virtual Machine, and many more.
Crypto community about FTM
Fantom has a supportive community on social networks.
Some people are concerned about the lack of attention their favorite project gets. That seems fair because Fantom shows interesting developments that go side by side with an increase in price.
We can also find announcements of some projects that are built on the Fantom blockchain, which shows that the blockchain is being actively used.
FTM Price Prediction 2021
Now let’s take a look at what analysts think of the future of the FTM crypto.
Fantom Historical Price Analysis
As of 2/11/2021:
All Time High: $3.48 (Oct 28, 2021)
All Time Low: $0.001935 (Mar 13, 2020)
The FTM token was launched in 2019. For two years its price was a little higher than zero. However, in 2021 it started to increase rapidly. At the time when the growth started Fantom proved itself to be a highly efficient network. Back then it got a nickname ‘Ethereum killer’, because of the improved scalability and transaction speed. This could not go unnoticed.
Undoubtedly, technical characteristics have a significant influence on the price of the token. But it is also important how active the foundation itself is in social media and in communication. Fantom foundation attracted developers by promising incentives. And it is also actively present on major social networks. So far its marketing strategy has been extremely successful.
Modern life requires more and more technology involvement. For networks that are supporting these increasing activities, it is extremely important to make this experience pleasant. Fantom foundation improved the idea of a smart contract platform and created a complex infrastructure that enables developers to build various types of decentralized applications. The team seems to be determined to continue its work and to bring more interesting features to customers.
SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.
