Finder makes money from featured partners, but editorial opinions are our own.
Fantom guide
What is Fantom?
Fantom is a smart contract platform via a focus on decentralised finance (DeFi) that claims to offer transactions that are "finalised in a second and cost a fraction of a cent".
FTM is the native token of the Fantom network.
What to consider
- Fantom's aBFT consensus protocol can handle thousands of transactions a second.
- Fantom is compatible with the Ethereum network, allowing Ethereum dApps to operate on the Fantom platform.
What to watch out for
- While Fantom claims to have thousands of daily users and more than 200 dApps, it still falls short of platforms like Ethereum.
- The smart contract sector is the most competitive in the crypto space, and Fantom is one of many platforms offering a similar approach.
Key facts
| Use case | Smart contract platform |
|---|---|
| Year released | 2018 |
| Origin | United States |
| Maximum supply | 3,175,000,000 |
| Consensus algorithm | Proof-of-stake |
| Key figures | Andre Cronje, Michael Kong |
| Can it be staked? | Yes |
Bottom line
Fantom is one of a number of 2nd generation smart contracts platforms looking to bring scaleable, low cost transactions to DeFi and decentralised dApps.
While it boasts impressive performance, it could face an uphill battle in establishing itself ahead of its rivals, especially with how dominant the Ethereum network already is.
Disclaimer:
This information should not be interpreted as an endorsement of cryptocurrency or any specific provider,
service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and
involve significant risks – they are highly volatile and sensitive to secondary activity. Performance
is unpredictable and past performance is no guarantee of future performance. Consider your own
circumstances, and obtain your own advice, before relying on this information. You should also verify
the nature of any product or service (including its legal status and relevant regulatory requirements)
and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
More guides on Finder
-
How to get crypto airdrops
Crypto airdrops let you receive crypto tokens in return for completing certain activities.
-
Bitcoin ETF statistics 2024
Track the daily and overall performance of the spot Bitcoin ETFs.
-
Best crypto AI and data coins to buy now
Compare the top AI cryptocurrency based on overall market capitalisation and volume.
-
Bitcoin halving countdown: What does it mean for Bitcoin’s price?
Bitcoin halvings usually precede a dramatic increase in Bitcoin’s price.
-
Binance AUD withdrawal options
What to do if you've been affected by Binance's changes to AUD deposits and withdrawals.
-
Is crypto a good investment?
Crypto can be a good investment, but it’s also a risky one.
-
How to invest in cryptocurrency
Learn how to get started investing in cryptocurrency, the methods available to you, and what to keep in mind before making your first purchase.
-
What is blockchain technology?
Discover blockchain: what it is, how it works and who is exploring it in Australia.
-
What is a stablecoin?
A comprehensive overview of cryptocurrency stablecoins, including how they work, what they’re used for and why they’re important.
-
Crypto Finder Blockchain Hackathon 2018
Crypto Finder is launching its first-ever blockchain hackathon, FREE and open to all coders and blockchain enthusiasts!