Question 1

What is the price of Fantom (FTM)?

Accepted Answer

The current price of Fantom (FTM) is £ 0.45367477. As with all cryptocurrencies, the price can fluctuate considerably over short periods due to market trends. It's important to check the current price before making any decisions. However, please note that none of this information constitutes financial advice!

Question 2

Can you tell me more about Fantom (FTM)?

Accepted Answer

Sure! Fantom (FTM) is a unique smart contract platform that has been designed to address the scalability issues faced by many traditional public distributed ledger technologies. Rather than relying on the traditional block ledger-based storage infrastructure, Fantom uses a Directed Acyclic Graph (DAG) based system for its data storage. DAGs have the potential to offer faster transaction times as compared to traditional blockchain structures. The heart of the Fantom platform is its Lachesis Protocol, which is used to maintain consensus within the platform. Unlike other consensus protocols, the Lachesis Protocol has been designed with high scalability in mind and is intended to ensure that applications built on the Fantom OPERA Chain can provide their users with near-instant transactions and almost zero transaction costs. The overarching mission of Fantom is to create a platform that provides interoperability between all transaction bodies worldwide, all while providing an ecosystem facilitating real-time transactions and data sharing at minimal cost.

Question 3

Who created Fantom?

Accepted Answer

The details about the specific individuals or group who created Fantom are unclear as it's typically the case with many decentralized projects. However, there's a team working behind the scenes to maintain and upgrade the platform as well as developing future features.

Question 4

How does the Fantom platform work?

Accepted Answer

Fantom is built on Directed Acyclic Graph (DAG) technology which is a different way to approach storing transaction data when compared to traditional blockchains. In a DAG, each transaction confirms the previous transactions that it depends on, which removes the need for miners to confirm transactions, as is necessary with blockchain structures. This results in faster confirmation times and increased scalability. The key to Fantom's operation is the use of its Lachesis Protocol. This protocol maintains consensus across the platform by ensuring that all transactions are ordered in a way that there are no double spends and that everyone agrees on the order of transactions. This consensus mechanism aside from supporting scalability, also allows for instant transactions and almost zero transaction costs on the Fantom OPERA Chain.

Question 5

What makes Fantom unique?

Accepted Answer

Fantom’s main differentiator is its adoption of DAG technology with the Lachesis Protocol which makes it fundamentally different to the block-based distributed ledger systems of traditional cryptocurrencies. This allows applications built on the Fantom platform to integrate real-time transactions and data sharing with low cost. Fantom's aim for interoperability between all transaction bodies worldwide is another unique feature which potentially allows it to serve as a backbone for a truly global and real-time economy.

Question 6

What is the total supply of Fantom?

Accepted Answer

The total supply of Fantom (FTM) is 3.2B. It is important to know the total supply because it can potentially impact the price of the cryptocurrency.

Question 7

Where can I buy Fantom (FTM)?

Accepted Answer

Fantom (FTM) can be purchased on the following cryptocurrency exchanges: Gemini, Bitstamp, Indodax, TradeOgre.

Convert FTM to GBP

Try our Crypto Pro app