BIC Video News Show: Fantom (FTM) Increases Popularity

On this episode of the BeInCrypto video news show, host Jessica Walker will delve into what’s behind the incredible growth behind Fantom.

Its native sign, FTM, increased 14% in 24 hours, reaching an all-time high. It is one of the many projects called “Ethereum Killers” because the platform allows users to create decentralized applications and also allows its users to create their own NFT tokens. It also wants to solve the problems related to smart contract platforms. But why is Fantom suddenly on everyone’s radar?

What is Fantom?

Let’s start with the basics of the project. Fantom is a “straight chart acyclic” smart contract platform that provides decentralized financial services to developers using its own consensus algorithm. Fantom aims to solve the problems associated with smart contract platforms, in particular the speed of transactions, which the developers claim to have reduced to less than two seconds.

Fantom Foundation, which oversees Fantom’s product offering, was originally created in 2018, with the launch of OPERA, Fantom’s core network, arriving in December 2019.

Fantom team

Fantom Foundation was founded by South Korean computer scientist Dr. Ahn Byung Ik. Currently, the CEO of the platform is Michael Kong.

team behind Fantom has extensive experience in the field of full-stack blockchain development and has sought to create a smart contract platform that privileges scalability, decentralization, and security. According to its official website, the Fantom team also consists of specialized engineers, scientists, researchers, designers, and entrepreneurs.

Singular project

Fantom uses a custom consent mechanism to facilitate DeFi and related services based on smart contracts. mechanism, called Lachesis, promises a much higher capacity and completion of transactions in two seconds, as well as security improvements over traditional platforms based on proof-of-stake (PoS) algorithms.

By pairing Ethereum, the project attracts developers who want to implement decentralized solutions. According to its official literature, its mission is “to ensure compatibility between all transactional organizations in the world.”

Its internal token, FTM, forms the backbone of transactions and enables the collection of commissions and engagement activities, along with the user rewards that the latter represents. Through the token sale in 2018, Fantom raised nearly $ 40 million to fund development.

Token FTM

Let’s talk a bit about the token itself. Fantom’s FTM token is freely tradable and can be found on major exchanges such as Binance, Gate.io, and OKEx Korea. FTM exists in various protocols, with ERC-20, BEP2, and Fantom’s OPERA tokens circulating.

token has managed to consistently break down barriers and continue to surprise investors and the broader crypto community. Fantom’s FTM price jumped from $ 2.31 on October 19 to $ 2.93 on October 25, 2021. With a market capitalization of 7.5 billion, the token has tripled in the last 30 days. And the momentum doesn’t seem to diminish.

Fantom starter

Another reason FTM owners jump for joy is the way the Fantom Starter has been developed. FantomStarter is a launch pad designed to support and grow blockchain projects on the Fantom Opera network. y are following in the footsteps of early blockchain launch platforms like DAOMaker and Polkastarter, which provide strategic investment and structure for blockchain projects and products. This platform allows investors to participate in the most promising projects and products with solid business plans to win the best blockchain opportunities.

Unlike previous launch pads, FantomStarter allows blockchain projects to integrate projects on most major blockchains, including Ethereum, Polygon, Binance Smart Chain, and Fantom. Developers must submit their project business plans before entering a verification process.

Once accepted by the FantomStarter team, the project will have access to the FS incubator in terms of funding, marketing, developer consulting, auditing, and strategic planning. registration for the FCFS phase of the FantomStarter public sale was released yesterday and provided an additional boost to Fantom.

Fantom DC

Fantom Developers Conference held in Abu Dhabi is another factor that has been cited as one of the reasons for its increase. In detail, the day began yesterday and will end on October 29. Developers, founders, investors, engineers, economic pioneers from around the world will come together for what the organizers have called “the world’s most exclusive blockchain events.”

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