FTM

Fantom is a smart contract platform designed as an alternative to Ethereum. It utilizes a directed acyclic graph (DAG) consensus mechanism, aiming to address scalability and speed limitations faced by Ethereum.

Here’s a breakdown of Fantom (FTM):

Key Features:

Directed Acyclic Graph (DAG) Consensus: Unlike Ethereum’s Proof-of-Work (PoW), Fantom leverages a DAG for faster transaction processing and lower fees.

Smart Contracts: Fantom allows developers to build decentralized applications (dApps) on its platform, similar to Ethereum.

DeFi Ecosystem: Fantom fosters a growing ecosystem of DeFi applications, including lending, borrowing, and decentralized exchanges.

Opera Mainnet: Fantom operates on its own Opera Mainnet, ensuring higher transaction speeds compared to Ethereum.

FTM Token: The native token of Fantom, FTM, serves various purposes:

Staking: Users can stake FTM tokens to secure the network and earn rewards.
Governance: FTM holders can participate in voting on proposals that affect the future of the platform.
Fees: FTM is used to pay transaction fees on the Fantom network.
Current Status and Price (as of July 4, 2024):

FTM is currently trading around $1.40 per token. You can find live price charts and market capitalization data on various cryptocurrency websites like CoinMarketCap https://coinmarketcap.com/currencies/fantom/ and CoinGecko https://www.coingecko.com/en/coins/fantom.
The total market capitalization of FTM is roughly $1.40 billion, ranking it around #65 on CoinGecko today.
Things to Consider Before Investing in FTM:

Competition: Fantom faces competition from other smart contract platforms like Ethereum, Solana, and Avalanche.

DAG Technology: DAG technology is still relatively new, and its long-term security implications are being evaluated.

FTM Price Volatility: The cryptocurrency market is inherently volatile, and FTM’s price can fluctuate significantly.

Overall, Fantom offers a scalable and user-friendly platform for building dApps and DeFi applications. However, it’s essential to be aware of the competition within the smart contract platform landscape and the evolving nature of DAG technology.

Here are some additional resources for learning more about Fantom:

Fantom Website: https://fantom.foundation/
Fantom Whitepaper: https://docs.fantom.network/
FTM CoinMarketCap Listing: https://coinmarketcap.com/currencies/fantom/
FTM CoinGecko Listing: https://www.coingecko.com/en/coins/fantom