Modified on: Fri, 22 Sep, 2023 at 4:14 PM
FTM is the primary token on the Fantom network. FTM is used for securing the network through staking, governance, payment, and for network fees. FTM is a proof-of-stake token that exists natively on the Fantom OPERA mainnet and is also compatible with Ethereum and Binance Smart Chain.
Fantom is a modular, scalable, and secure Smart Contract platform powered by Lachesis, Fantom’s innovative DAG-based aBFT consensus algorithm. Besides being faster and cheaper, Fantom’s Lachesis protocol is also fully compatible with the Ethereum Virtual Machine, making Fantom flexible and customizable by supporting any Smart Contract written in Solidity or Vyper.
Multiple independent blockchains can be plugged into Lachesis to benefit from the protocol’s speed and security while also communicating between one another, making the Fantom platform interconnected and interoperable with other blockchains across the DeFi ecosystem.
Did you find it helpful?
Sorry we couldn't be helpful. Help us improve this article with your feedback.