fantom

Summary:

  • What is The Fantom Coin Platform and how does it work?
  • Advantages of the Fantom Coin exchange.
  • Fantom Coin’s past, present and future price positions.

Read next: Altcoins: GameCoin (GMEX) - What Is It? - A Deeper Look Into the GameCoin (GMEX) Platform 

The Fantom exchange

Using its unique consensus mechanism, Fantom is a directed acyclic graph (DAG) smart contract platform that offers developers decentralized financial (DeFi) services. Fantom, which claims to have decreased transaction times to under two seconds, intends to address issues with smart-contract platforms using its proprietary coin FTM. The Fantom Foundation, which is in charge of the company's product line, was established in 2018, and OPERA, Fantom's mainnet, is scheduled to launch in December 2019.

Fantom was developed as an Ethereum substitute and is an open-source decentralized smart contract platform for DApps and digital assets. By balancing scalability, security, and decentralization, Fantom

Binance Academy: "How to Add Fantom to MetaMask?"

Binance Academy: (FTM) Fantom And MetaMask - Adding Crypto To The Wallet

Binance Academy Binance Academy 09.05.2022 08:41
TL;DR MetaMask is a crypto wallet app and browser extension that primarily interacts with the Ethereum mainnet. To download the extension, you can visit the official MetaMask website. Besides Ethereum, Metamask can also interact with other networks like Fantom. To do this, you’ll need to provide some information to MetaMask. This includes a custom RPC URL, chain ID, and network name. Then, you’ll be able to add Fantom tokens once you import the token address. Adding new blockchains to MetaMask is an important crypto skill that applies to other EVM networks like Binance Smart Chain.   Introduction To get started, you’ll first need a supported crypto wallet like MetaMask. Note that Fantom is not a default network on MetaMask. However, you can easily set up your browser wallet to connect to Fantom in just a few minutes.     Learn more on Binance.com   Installing and setting up MetaMask 1. Download and install MetaMask on Chrome, iOS, or Android through the MetaMask website. To ensure you download the real version, double-check you are on the official MetaMask website.      2. Once you have downloaded and installed the extension, click [Get Started] on the MetaMask welcome page.     3. For new wallet users, click [Create a Wallet]. If you already have a wallet, you can import it using the seed phrase with the [Import wallet] option.     4. MetaMask will ask if you would like to help improve the extension by sharing anonymous usage data. Accepting or refusing this will not affect your MetaMask experience.     5. Create a secure password. This will be used to log in to your wallet. Note that your password is not your seed phrase. The password safeguards your wallet from anyone using your device. The seed phrase allows you to access your crypto even if you forget your password.     6. Now that you have created your password, MetaMask will provide important information about your seed phrase. If you’re new to crypto wallets, make sure to read through this section and watch the video before continuing.      7. Next, click the lock to receive your 12-word seed phrase. Write the words down in the correct order and store them in a safe location (preferably offline). Do not share your seed phrase with anyone. If you lose access, the seed phrase is the last backup to your account. Click [Next] to continue.     8. Confirm your seed phrase by selecting the words at the bottom of the screen in the right order. Once complete, click [Confirm].     9. You have completed setting up your MetaMask wallet. To start using your wallet, click [All Done].     10. For easy access, click the puzzle icon on the Chrome browser to pin MetaMask on your toolbar. By default, Metamask is only connected to Ethereum. In the following section, you will learn how to connect MetaMask to Fantom.     Configuring the wallet 1. You will need to provide some network details to add Fantom support to your MetaMask wallet. First, open MetaMask and click the network dropdown menu.     2. Click [Add Network] on the pop-up.     3. On the [Add a network] page, add the following details. Click [Save] when you’re finished. Network Name Fantom New RPC URL Choose any of the following: https://rpc.ftm.tools https://rpc.fantom.network https://rpc2.fantom.network https://rpc3.fantom.network Chain ID 250 Currency Symbol FTM Block Explorer URL https://ftmscan.com/       4. You have successfully connected to the Fantom network.   Adding Fantom tokens to MetaMask To add Fantom tokens other than FTM, you will need to do this manually. Your wallet can still receive tokens that aren’t imported. 1. Visit FTMScan and find the token contract and details of the token you’d like to add. For tokens not on FTMScan, always look for the contract address from the project’s official website or social media channels. Users should be wary of fake contracts created by scammers.     2. Return to MetaMask and click [Import tokens].     3. Copy and paste the token’s contract address, and MetaMask should automatically fill in the rest of the details. Add them manually if the information is not filled in. Click [Add Custom Token] to finish.     4. Click [Import Tokens].     5. Your wallet will now display the token you added with the correct balance.           Closing thoughts Once Fantom is set up on your MetaMask, you can start transacting, collecting NFTs, interacting with DeFi DApps, and managing your crypto. Plus, you can also swap tokens within the extension. MetaMask isn’t exclusive to the Ethereum network or Fantom. It can also be connected to other networks that are compatible with the entire Ethereum Virtual Machine (EVM). These include the BNB Smart Chain, Polygon, Avalanche, Harmony, and many more. With our step-by-step guide, you’re now ready to add more chains and start exploring.
Binance Academy: "How to Add Fantom to MetaMask?"

Altcoins: Fantom (FTM) - What Is It? - A Deeper Look Into the Fantom (FTM) Platform

Rebecca Duthie Rebecca Duthie 22.08.2022 14:35
Summary: What is The Fantom Coin Platform and how does it work? Advantages of the Fantom Coin exchange. Fantom Coin’s past, present and future price positions. Read next: Altcoins: GameCoin (GMEX) - What Is It? - A Deeper Look Into the GameCoin (GMEX) Platform  The Fantom exchange Using its unique consensus mechanism, Fantom is a directed acyclic graph (DAG) smart contract platform that offers developers decentralized financial (DeFi) services. Fantom, which claims to have decreased transaction times to under two seconds, intends to address issues with smart-contract platforms using its proprietary coin FTM. The Fantom Foundation, which is in charge of the company's product line, was established in 2018, and OPERA, Fantom's mainnet, is scheduled to launch in December 2019. Fantom was developed as an Ethereum substitute and is an open-source decentralized smart contract platform for DApps and digital assets. By balancing scalability, security, and decentralization, Fantom hopes to overcome the drawbacks of earlier blockchain generations. In addition to a comprehensive staking incentive structure and integrated DeFi instruments, the project provides a set of tools to make the process of integrating current DApps simpler. Fantom is a Layer-1 blockchain that makes use of an independent consensus layer called Lachesis as well as a consensus mechanism that was designed from scratch to enable DeFi and associated services based on smart contracts. Other layers, like as Opera, Fantom's EVM-compatible smart contract chain, are also secured using Lachesis. The long-playing mission of the project is to “grant compatibility between all transaction bodies around the world.” One of Fantom's main advantages is its speedy transaction processing, which can handle thousands of transactions per second, settle them in one to two seconds, and only cost a few cents each transaction. Fantom offers greater scalability as a result, yet at a lesser price. Lachesis protocol and Opera are the two key technologies that make up the ecosystem. The Fantom network is protected by the main consensus layer, Lachesis, which offers both transaction speed and security. An aBFT consensus engine called Lachesis employs the directed acyclic graph (DAG) algorithm. The network screens the participants, allowing only one third who are assigned due to incorrect or harmful behavior, without impairing network activities. Network data can be analyzed at various periods. The Asynchronous Byzantine Fault Tolerant (aBFT) Proof-of-Stake (PoS) consensus technique used by Fantom ensures that the entire network operates efficiently while providing optimum security. The PoS method, according to the authors of Fantom, is a leaderless phenomena; there are no leaders of blocks or players, and anyone is free to join (or leave) the network of nodes whenever it suits them. Asynchronous, leaderless, Byzantine fault-tolerant, and nearly instantaneous finality are some of Lachesis' important characteristics. Opera is a permissionless, open-source application development layer or Fantom's mainnet deployment platform that hosts DApps. Fantom features a comprehensive set of smart contract capabilities thanks to EVM integration and support for the Solidity programming language, allowing users to smoothly connect with Ethereum platforms while keeping the benefit of Fantom's transaction efficiency. Opera adopts a PoS paradigm and leaderless validators because the Fantom Foundation found that removing block leaders enhances network security (validators do not determine which blocks are valid). Fantom is a fast, safe, and affordable payment network that enables users to send money quickly and securely for a low cost. It also has on-chain governance, where users can cast votes using FTM tokens (one token equals one vote). Users have the option to rate their agreement or dissatisfaction with the features on a scale from 0 to 4. Fantom's native utility in-house PoS coin, or FTM, is used for payments, network fees, staking, and governance throughout the ecosystem. FTM serves as the foundation of transactions and enables fee collection, staking, and the user benefits that latter activity implies. The current market capitalisation for Fantom is $739,363,515. There is a maximum supply of 2,545,006,273 FTM tokens, 2.55 billion of them are currently in circulation. Past, present and future prices of The Fantom network (FTM) The price of Fantom coin took more than 2 years to rise, the price saw an bullish trend throughout 2021 and reached its peak in early January of 2022, at a price of $3.008. Thereafter its price has been on a consistent downward trend to date. Over the past few months, the global markets have been facing strong investor risk-off sentiment in the wake of the geopolitical tensions, Covid-19 lockdowns in China and supply chain issues. The cryptocurrency market has followed the trends of the greater market during these times, therefore the price of most cryptocurrencies have been falling, FTM does fall under this category. According to some analysts, the future price of The Fantom network (FTM) could reach up to $1.16 by 2025 and could see a price of more than $8.14 by 2030. However, it is important to remember that this future price prediction is based solely on data and does not take into account factors such as investor sentiment and the ever changing market conditions, both of which make it difficult to make accurate future price predictions. FTM Price Chart Sources: finance.yahoo.com, coinmarketcap.com, stormgain.com

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