FANTOM is a new DAG based Smart Contract platform that intends to solve the scalability issues of existing public distributed ledger technologies.
The platform intends to distinguish itself from the traditional block ledger-based storage infrastructure by attempting to employ an improved version of existing DAG-based pro-tocols. The FANTOM platform adopts a new protocol known as the “Lachesis Protocol” to maintain consensus. This protocol is intended to be integrated into the Fantom OPERA Chain. The aim is to allow applications built on top of the FANTOM OPERA Chain to enjoy instant transactions and near zero transaction costs for all users. This has led to an increase in FTM price.
Security
Fantom uses a bespoke variety of proof-of-stake algorithm to provide services and secure its network. Known as Lachesis, it is an example of a so-called asynchronous byzantine fault tolerant (aBFT) consensus mechanism. By removing leadership among network participants, Fantom avoids low-cost attack risk, while staking adds further user incentives to secure operations using FTM token holdings.
Speed
Transactions on Fantom are finalized in a second and cost a fraction of a cent.
Highly Scalable
Fantom can process thousands of transactions per seconds and scale to thousands of nodes.
Ethereum Compatible
Fantom is EVM compatible. You can deploy and run your Ethereum dApps on Fantom.
Liquid staking
Use your staked FTM as collateral for DeFi. Your delegations are liquid within the Fantom ecosystem.
fMint
You can mint dozens of synthetic assets, including cryptocurrencies, national currencies, and commodities.
fLend
Lend and borrow digital assets to trade and to earn interests without losing exposure to your FTM.
fTrade
Trade Fantom-based digital assets without leaving your wallet. Fully non-custodial and decentralized AMM exchange.
Let us review FTM price.
FTM Price Prediction
FTM is currently trading above the support of $1.22. If it stays above this support, we could start seeing a move towards $1.37, $1.49, $1.61, $1.78 and $2.00. If the resistance at $2.00 flips to support, we could start seeing a move towards $2.63, $3.65 and $4.67. Failure to hold the support at $1.22 could lead to a drop towards $0.98.
Join us on Telegram to receive free trading signals.
For more information on cryptocurrency, visit the Altcoin Buzz YouTube channel.
Images courtesy of TradingView.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinons relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
