5 Things to Know About FTM

Currently, there is a wide variety of cryptocurrencies, and they have different potential. The excitement around Fantom (FTM) is mostly caused by its potential to become a better version of Ethereum (ETH), which is the second-best digital asset. If you think that you should swap CAKE to FTM and make this coin a part of your portfolio, then you should learn some things about it. 

  • FTM is a blockchain platform that has smart contract capabilities. 

Smart contracts are programs that make it possible for blockchains to perform more advanced transactions instead of just sending digital assets from one person to another. Currently, there are a few common uses for smart contracts:

  • They are instrumental in DeFi (decentralized finance) that is financial services, which do not need a central governing body. With the help of these smart contracts, developers are able to create decentralized applications that power DeFi platforms. 
  • They are utilized to establish the non-fungible tokens` ownership. They are digital collectibles, which can be purchased, traded, and sold. 
  • You can find it on a few big crypto exchanges. 

It is not easy to purchase many kinds of cryptocurrencies, but Fantom is an exception here. It is possible to purchase it on a few large crypto exchanges, including https://alligat0r.com/custom/exchange-pairs/

  • FTM transactions are not expensive.

One of the biggest advantages of this platform is the speed of transactions. It is able to cope with thousands of transactions per second. In addition to that, the fees are usually a fraction of a cent, which makes it beneficial to those who frequently transfer funds. 

  • Uses for FTM include governance, staking, network fees, and payments. 

FTM is the native token of the Fantom platform, and it is possible to use it for:

  • Staking. FTM utilizes a proof-of-stake model. Transactions get verified by nodes received from people`s tokens. If you stake crypto this way, it will help secure the network. Plus, you will receive rewards.
  • Governance. Fantom is a decentralized platform, so token holders decide what its future is going to be like. When staking and holding FTM, you are allowed to propose and vote on changes. 
  • Network fees. Fees on the platform are paid through its coin, and these fees are kept on transactions, using smart contracts, and creating new networks. 
  • Payments. Fantom is known for its low fees and fast transactions, so the platform is a convenient option when it comes to transferring funds to others. 
  • The platform has strong competition in Ethereum and more smart contract services. 

Considering the advanced smart contracts platform offered and transactions speed, it is possible to say that Fantom is a solid crypto investment. The price has decreased since its all-time high, and there is still a significantly smaller cap compared to some competitors. Many people believe that it will keep growing in the future. 

Final Words

These days, there are hundreds of platforms on the market, and each of them is ready to provide you with access to thousands of digital assets. To understand which is the most suitable for you, you need to decide what features are the most important to you. That is why you should always do your best to figure out as much as possible about cryptocurrency before you invest in it.

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