Is Fantom a Good Investment To Make Right Now?

Date:


Fantom
is a fast open-source smart contract platform for dApps and digital assets. Guaranteeing almost instant transactions, Fantom is a great choice for both beginners and more experienced investors. Fantom’s aBFT consensus protocol offers high speed and security.

Are you interested in Fantom and trying to decide whether it is worth the investment? You are in the right place. Our expert analysis will help you out.

What is Fantom?

The Fantom Foundation was founded by Dr. Ahn Byung Ik, a South Korean computer scientist, in 2018. They introduced OPERA, Fantom’s mainnet, in December 2019. In 2018, Fantom raised close to $40 million through token sales to fund development.

https://twitter.com/theotherpomp/status/1447576616121548809

Fantom acts as a directed acyclic graph (DAG) smart contract platform. Smart contracts refer to codes that automatically complete transactions on blockchains. They eliminate the need for anyone to process the trading, making things faster and transparent.

https://media.makeameme.org/created/i-got-a-024ccf1877.jpg

It offers decentralized finance (DeFi) services to developers with the help of its unique consensus algorithm. Fantom is an all-in-one DeFi suite. This means that you will have the liberty to mint, trade, lend and borrow digital assets from your wallet without any hassle. The transactions go through almost instantly, and you have to pay negligible fees.

https://twitter.com/FantomFDN/status/1441105016324984836

Fantom stands apart from its competitors because it uses a new scratch-built consensus mechanism to offer DeFi services with the help of smart contracts. The mechanism is called Lachesis, and it provides you with higher capacity, faster transactions, and greater security.

What is FTM?

FTM is the in-house token for Fantom, and it helps in resolving common problems linked to smart-contract platforms. Fantom developers report that they have reduced the transaction time to less than two seconds which is impressive. Fantom can process thousands of transactions every second.

FTM is a proof-of-stake (PoS) token, and it simplifies fee collection and staking activities/rewards. You can use staked FTM as collateral for DeFi. You can also lend and borrow digital assets for trading and earning interests without losing access to your FTM. 

Price and Cost Analysis

Fantom has maintained a steady value in recent months. The live Fantom price as of 12th October 2021 is USD 2.12, and the 24-hour trading volume is $731,661,255 USD. The live market cap is $5,388,418,017 USD, and there is a circulating supply of 2,545,006,273 FTM coins. The price has fluctuated significantly in the last seven days, but there was a 50.0% rise, with the lowest being $1.30 and the highest being $2.44.

https://i.chzbgr.com/original/14330373/h5DE06E2B/musk-dogecoin-bitcoin-ethereum-memes-funny-memes-crypto-memes-twitter-memes-funny-tweets-twitter

FTM reached its all-time high on October 8, 2021, at $2.44, while its all-time low was more than a year back in March 2020. FTM is firmly set on an upward trajectory. While FTM might undergo some price fluctuations, numbers show that the cryptocurrency has improved its standing significantly as compared to competitors in the last one year. 

Final Thoughts

Fantom is definitely an innovative blockchain project that will revolutionize the way we view DeFi services. DeFi has become much more accessible because of Fantom already and they have quite a few new projects underway. If you want to invest in FTM, do your research and understand the risks so that the process is smooth!

————————-

Is Fantom a Good Investment To Make Right Now?

Fantom is a fast open-source smart contract platform for dApps and digital assets. Guaranteeing almost instant transactions, Fantom is a great choice for both beginners and more experienced investors. Fantom’s aBFT consensus protocol offers high speed and security.

Are you interested in Fantom and trying to decide whether it is worth the investment? You are in the right place. Our expert analysis will help you out.

What is Fantom?

The Fantom Foundation was founded by Dr. Ahn Byung Ik, a South Korean computer scientist, in 2018. They introduced OPERA, Fantom’s mainnet, in December 2019. In 2018, Fantom raised close to $40 million through token sales to fund development.

https://twitter.com/theotherpomp/status/1447576616121548809

Fantom acts as a directed acyclic graph (DAG) smart contract platform. Smart contracts refer to codes that automatically complete transactions on blockchains. They eliminate the need for anyone to process the trading, making things faster and transparent.

It offers decentralized finance (DeFi) services to developers with the help of its unique consensus algorithm. Fantom is an all-in-one DeFi suite. This means that you will have the freedom to mint, trade, lend and borrow digital assets from your wallet without any hassle. The transactions go through almost instantly, and there are barely any fees.

https://twitter.com/FantomFDN/status/1441105016324984836

Fantom stands apart from its competitors because it uses a new scratch-built consensus mechanism to offer DeFi services with the help of smart contracts. The mechanism is called Lachesis, and it provides you with higher capacity, faster transactions, and greater security. Think better use of the system, if you want. When it comes to DeFi coins, you need coins that have better security and offer faster transactions. 

What is FTM?

FTM is the in-house token for Fantom, and it helps in resolving common problems linked to smart-contract platforms. Fantom developers report that they have reduced the transaction time to less than two seconds, which is impressive. Fantom can process thousands of transactions every second.

FTM is a proof-of-stake (PoS) token, and it simplifies fee collection and staking activities/rewards. You can use staked FTM as collateral for DeFi. You can also lend and borrow digital assets for trading and earning interests without losing access to your FTM. 

Price and Cost Analysis

Fantom has maintained a steady value in recent months. The live Fantom price as of 12th October 2021 is USD 2.12, and the 24-hour trading volume is $731,661,255 USD. The live market cap is $5,388,418,017 USD, and there is a circulating supply of 2,545,006,273 FTM coins. The price has fluctuated significantly in the last seven days, but there was a 50.0% rise, with the lowest being $1.30 and the highest being $2.44.

FTM reached its all-time high on October 8, 2021, at $2.44, while its all-time low was more than a year ago in March 2020. FTM is firmly set on an upwards trajectory. While FTM might undergo some price fluctuations, numbers show that the cryptocurrency has improved its standing significantly compared to competitors in the last year. 

Final Thoughts

Fantom is definitely an innovative blockchain project that will revolutionize the way we view DeFi services. DeFi has become much more accessible because of Fantom already and they have quite a few new projects underway. If you do decide to invest in FTM, do your research and understand the risks so that the process is smooth!

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Disclaimer: The views expressed in The Coin Times are solely those of the authors cited. It does not constitute The Coin Times recommendation to buy, sell, or hold any investment. Before making any financial decisions, it is recommended that you undertake your own research. Use the information supplied at your own risk. For additional information, please see the Disclaimer.

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