Fantom is a platform that supports decentralized finance (DeFi), smart contracts, and decentralized apps (dApps). Transactions using the Fantom platform are much faster than those through Ethereum and Bitcoin because Fantom uses the Lachesis protocol.
Fantom is also Ethereum Virtual Machine (EVM) compatible, meaning developers easily can transfer applications from the Ethereum blockchain to the Fantom blockchain.
Fantom’s native cryptocurrency token is FTM, which is used for staking, fee payments, and governance. Like other cryptocurrencies, Fantom aims to be the best among smart-contract enabled blockchains.
With rising concerns around crypto mining and climate change, Fantom may surpass Bitcoin and Ethereum as more eco-friendly and scalable. Many cryptocurrencies use a lot of energy and time to validate transactions, while Fantom uses a DAG (Directed Acrylic Graph). Its DAG is a digital ledger, like a blockchain, that makes sure transactions complete within seconds and stay more energy-efficient. The transactions record on top of one another rather than in a chain sequence.
Fantom also offers staking to its investors. Anyone who invests in FTM can stake their tokens to earn passive crypto easily, which isn’t possible with proof-of-work cryptocurrencies.
Fantom focuses on blockchain technology’s three most important components: decentralization, scalability, and security. Many other cryptocurrencies, such as Ethereum and Bitcoin, only focus on decentralization and security, ignoring scalability. But a cryptocurrency project needs to be scalable - slow transaction speeds simply won’t be adopted in the modern world.
Fantom transactions generally take a few seconds to complete thanks to the Lachesis protocol, which can validate transactions independently, without consensus from the rest of the blockchain. Speed, scalability, and security make Fantom a good choice for Canadians to invest in.
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Get started with as little as $50 CAD. You can use a bank wire or an Interac e-Transfer to fund your account.
Coinberry is a Canadian digital asset trading platform that provides users the easiest and safest way to buy and sell Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Stellar in Canada. Assets held by Coinberry are not eligible for Canadian Investor Protection Fund coverage.
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