Fantom FTM

Fantom, also known as FTM, is a blockchain platform designed for smart contract development and decentralized application (DApp) creation. It aims to provide fast and affordable transactions, high scalability, and interoperability between different blockchains.

History of Fantom:

The Fantom Foundation was founded in 2018 by Ahn Byung Ik, a former software engineer at Samsung. The project started as a fork of Ethereum, but it has since developed its own consensus mechanism and protocol. The mainnet was launched in December 2019.

Fantom Features:

Fantom uses a Directed Acyclic Graph (DAG) consensus mechanism, which enables fast and scalable transactions. DAG allows multiple transactions to occur simultaneously, improving the throughput of the network. It also has a unique feature called "Lachesis" which is a leaderless consensus algorithm that allows for quick and secure confirmation of transactions. Lachesis is designed to be Byzantine fault-tolerant, meaning it can withstand malicious attacks from bad actors.

Fantom supports the Ethereum Virtual Machine (EVM), which allows developers to write smart contracts in Solidity, the most popular programming language for Ethereum. This means that DApps built on Ethereum can easily be ported to Fantom.

Fantom also has a built-in staking mechanism, which incentivizes users to hold and stake FTM tokens. By staking, users can participate in network governance and earn rewards for helping to secure the network.

Fantom Market:

FTM has experienced significant growth since its launch, reaching an all-time high of over $0.90 in May 2021. It currently has a market capitalization of over $4 billion and is listed on major cryptocurrency exchanges such as Binance, Huobi, and Bitfinex.

Fantom Mining and Energy Consumption:

Fantom does not use a traditional proof-of-work (PoW) mining mechanism, as it instead relies on a DAG consensus mechanism. Therefore, the network does not require a significant amount of energy to operate.