What is FTM Cryptocurrency (Fantom Coin)?
Fantom is a smart contract platform that provides decentralized finance services to developers using its own consensus algorithm and a unique system known as the Directed Acyclic Graph (DAG). FTM is the official currency used to operate the Phantom ecosystem
Fantom was founded in 2018 by South Korean scientist Dr. Ahn Byung Ik and its main goal is to provide a solution to problems associated with smart contract platforms, namely transaction speed, which the developers say has been reduced to two seconds.
FTM coin project
The FTM project revolves around a first-layer blockchain that uses its own consensus mechanism and an independent consensus layer called Lachesis. The platform primarily seeks to provide decentralized finance services to developers, in addition to overcoming the limitations of the previous generation of blockchain by finding a kind of balance between the three most important characteristics, which are Security, decentralization and scalability
Fantom developers say that the project has successfully solved the problems associated with transaction speed by reducing it to less than two seconds. The private consensus mechanism (Lachesis) also provided security for the network and Phantom's series of smart contracts, known as Opera. The project's long-term mission is to "give consensus between all transaction entities around the world."
