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What is Fantom

¿What is Fantom?

Fantom is a platform designed to develop a network of smart contracts, with the ability to compete with the Ethereum block chain, while providing solutions to the scalability drawbacks of said network, whose objective as a platform is to have flexible and economical transactions.

Launched in the year 2017.

Also, Fantom aimed to create an algorithm that would guide decentralized finance and the operation of dapps (decentralized applications).

Fantom was developed by a South Korean computer scientist who founded the Fantom Foundation company and implemented the network at the time.

Fantom is a good option when it comes to depositing a large amount of information in a solid way, since it can be used by areas such as public services, health, education, even ideas or environmental projects.

It then authorizes transactions in less than two seconds, worth approximately $0.00001 each.

¿What does it offer?

Fantom offers to be compatible between all the transactional systems of the same, in turn, innovating a structure that approves transitions in real time and the exchange of information at low prices.

¿How does it work?

The operation of Fantom uses the protocol divided into three layers.

Each layer has different responsibilities from the rest and each one is of vital importance.

These layers are the core layer Opera, the Opera Ware layer, and the Application layer.

The core layer of OPERA:

It is responsible for maintaining consensus between nodes in the lachesis protocol and is also in charge of generating events.

It then uses a Dag to authorize or confirm transfers and nodes that have the ability to grow asynchronously due to the handling of dag technology.

The OPERA Ware layer: 

This layer is located at the core of the protocol and is designed to use tasks on the network such as the transmission of incentives, payments, and the writing of history data.

The OPERA application layer:

This layer sits on top of the OPERA application, it contains the available application programming interface that developers will use to access decentralized applications with the Opera Ware layer.

¿How is Fantom regulated?

Being a decentralized network, there is no financial institution that regulates it.

¿Why do people use Fantom?

People use Fantom, thanks to its popularity, as it has a community of investors and netizens who support the platform.

Fantom confirmed on its website that it has included more than 80 dapps in its system, which positions it as the most widely used and versatile protocol on the market.

¿How is Fantom different from other platforms?

Unlike other platforms, Fantom is developed under tech6 Dag, written to fix scalability issues.

Likewise, it offers unlimited scalability, thanks to the fact that the Nodes interact in the network, increasing its processing amplitude.

Fantom is a completely open platform, which guarantees your confidence in it.

¿Where can i buy Fantom?

One of the ways where you can buy FTM is through Binance as they have a huge tradable variety in the trade you can trade a cryptocurrency fiat cryptocurrencies or just use a debit or credit card to buy the stablecoin they are also bank deposits allowed.

https://www.binance.com/

¿Where to find more information?

For more information such as movements, prices, explorers, contracts and more you can visit the following link: https://coinmarketcap.com/

¿Did you know that you can buy and sell USDT and BUSD online thanks to Gastcoin Gateway?

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