What currency is FTM? What does FTM coin mean?

FTM is the native token of the Fantom Opera network, a layer-1 blockchain platform designed with high transaction throughput and scalability.

Oct 28, 2024 at 09:00 am

What is FTM Coin?

FTM is the native token of the Fantom Opera network, a high-transaction-throughput, layer-1 blockchain platform. Developed by the Fantom Foundation, Fantom Opera is designed to address scalability limitations faced by first-generation blockchains.

FTM Coin Features:

High Performance:

Fantom uses a proof-of-stake (PoS) consensus mechanism called Lachesis, which enables faster and more energy-efficient transaction processing.

Scalability:

Fantom employs optimistic transaction confirmation, allowing for high transaction throughput without compromising decentralization.

Interoperability:

Fantom is compatible with Ethereum Virtual Machine (EVM), facilitating the exchange of assets and deployment of smart contracts across blockchains.

DeFi Ecosystem:

Fantom hosts a growing DeFi ecosystem with decentralized exchanges, lending platforms, and yield farming opportunities.

Use Cases:

Transaction fees on the Fantom Opera network
Staking for transaction validation and rewards
Providing liquidity in DeFi pools
Developing and deploying smart contracts

FTM Coin Value:

The value of FTM coin is determined by market demand and supply. It has a total supply of 3.175 billion tokens, with a circulating supply of approximately 2.5 billion. Factors influencing FTM's price include:

Network usage and adoption
DeFi market activity
Major developments and partnerships on Fantom Opera
Overall market sentiment

FTM Coin Rankings:

On August 7, 2023, FTM was ranked 15th largest cryptocurrency by market capitalization, according to CoinMarketCap:

OKX
Binance
Coinbase
Huobi Global
KuCoin
Gate.io
Bybit
Poloniex
Bitfinex
Kraken
AscendEX
Crypto.com
Hotcoin Global
BingX
FTM

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