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Fantom

Fantom (FTM) is a token powering an eponymous platform for dApp developers all across the globe. Fantom Foundation, which is an entity overseeing Fantom as a product, was founded in 2018. 

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What Is Fantom?

Fantom (FTM) is a token powering an eponymous platform for dApp developers all across the globe. Fantom Foundation, which is an entity overseeing Fantom as a product, was founded in 2018. 

Fantom aims to solve the blockchain trilemma — how to achieve decentralization, scalability, and security in a network simultaneously, without sacrificing any of them. To do that, Fantom uses Lachesis — mechanism or layer based on Asynchronous Byzantine Fault Tolerance (aBFT) consensus. 

Lachesis, and this consensus in particular, build on classic BFT and Nakamoto consensus, but the asynchronous nature of this variation means faster block times and lower energy consumption than the previous versions. Thus, aBFT solves the scalability issue. The network is secured using Leaderless Proof-of-Stake, which keeps the emphasis on decentralization. 

Fantom is modular and also allows for building independent networks to deploy every dApp on Opera (Fantom’s mainnet). This adds scalability since different projects are unaffected by the others’ possible issues. On the other hand, those networks use the same infrastructure, logic, and communicate easily. 

FTM token powers Opera and Fantom ecosystem as a whole. The main use of FTM is staking (to become a Validator node, one must hold more than 3,175,000 FTM). FTM is also used as network fees, as a governance token, and as a currency for fast and cheap transactions.

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