fantom

Trade Fantom on Beaxy

Fantom (FTM) is the base asset of the Fantom platform. The Fantom network features the first-ever Directed Acyclic Graph (DAG) focused smart contract. This smart contract platform aims to fix key issues faced by most protocols when they need to scale their digital ledger.
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Fantom profile

Features of Fantom

Directed Acyclic Graph (DAG)
The directed acyclic graph system aggregates the functional benefits of blockchains, proof of work, and the longest chain rule to achieve superior transaction throughput on the Fantom platform. The concept for directed acyclic graphs was formally defined by Leonhard Euler in his 1736 publication titles Seven Bridges of Konigsberg. Use cases for directed acyclic graphs are now more modern and help to enhance the work of computer scientists, data processing networks, compression algorithms, and more. The Fantom platform uses this technology as a consensus architecture.
Fantom (FTM) Digital Token
The FTM token fuels the Fantom protocol. It came into existence following Fantom’s genesis block which was recorded on December 26th, 2019. The project instituted a 3,175,000,000 cap on the token supply. A portion of the token supply is locked out of circulation while the remaining tokens can be bought and sold by the token’s owner. Of the 3,175,000,000 total token supply, 40% were distributed to the private and public sale participants. There is no vesting requirement for the private and public sale FTM tokens. 15% of the total supply of FTM tokens was given to the project’s advisors to remain locked for a three month period. 10% of the total token supply was given to the teams original members. The FTM tokens that were given to the founding team members have a required locking period of 24 months. 3.6% of all FTM tokens is held in a strategic reserve. These FTM tokens have no vesting requirements and are held by the project to fund future enhancement and maintenance of the Fantom network. The remaining 31.4% of the FTM token supply was held in a separate reserve. The purpose of this reserve is to pay out staking rewards earned by those who are participating in the Fantom ecosystem by staking FTM tokens. These distributions will continue daily until 2024.
Frequently Asked Questions
Frequently Asked Questions
Frequently Asked Questions mobile

What is Fantom?

The Fantom Foundation is creating a new method for maintaining consensus that utilizes a Directed Acyclic Graph (DAG). The proposed consensus mechanism has the ability to process transaction throughput at a quicker pace than most existing blockchains. This protocol is aiming to be developed on the Fantom OPERA Chain. This will enable applications to implement instant transactions with near-zero transaction fees. The Fantom Foundation wants to apply this development to various industries that include, supply chain management, payment processing, smart city programs, food tech, and more. In May of 2019, the Fantom Foundation began working on a multi-asset and cross-chain ecosystem that can support interoperability with dozens of blockchains.

Fantom Technology

The Fantom OPERA chain is a three-layer system that manages transaction throughput and enables to system to scale effectively. The first layer is called the Core Layer. This layer is responsible for processing the transitions. The second layer is the OPERA layer. This layer supports smart contract maintenance and development. The final layer is referred to as the OPERA application layer. This layer lends support to externally hosted applications. The OPERA chain can leverage the Lachesis platform to scale the network’s transaction throughput even further to be able to handle hundreds of thousands of transactions each second. This would work by implementing a structure where one event contained in a block provides validation for the previous action. Even blocks hold data that have more than one package of transactions. This data may include historical data, smart contract data, or data from reputation management or rewards system.

How to mine Fantom?

FTM tokens are not created through the process of mining. Instead, the Fantom Foundation released the entire token supply at the outset of the project. Even though mining is not a possibility to earn FTM tokens, you can still earn them through the process of staking. If you don’t have any FTM tokens yet and you would like to stake them you can purchase FTM tokens on a digital currency exchange such as Beaxy. If you would like to stake your FTM tokens, simply download the mobile application for iOS or Android devices or access the staking platform with a web or desktop wallet. Next, you will need to install Fantom’s proprietary bridge. Then you can transfer your tokens to an OPERA address that you control. Finally, choose a credible validator and hit the stake button to begin earning FTM tokens. You can achieve returns up to 41.7% per year.

What is the benefits of using Fantom smart contracts?

FTM smart contracts leverage the directed acyclic graph (DAG) consensus mechanism to provide enhanced functionality to the smart contracts that are built and run on the platform. This technology combines the benefits of proof of work and proof of stake blockchain technology to increase the transaction throughput associated with a smart contract.

Risks of Fantom Trading

Investment Risk FTM tokens are moderately traded relative to most digital currencies. That being said, the FTM token still experiences higher levels of volatility compared to a more traditional asset like stock or gold. This creates risk as the price can reach your stop-loss quicker than you might otherwise expect. Security Risk All digital currencies have some degree of security and self-custody risks. This is because of a lack on insurance policies available to digital asset wallets. For example, if you deposit money with a bank and the money is stolen the bank’s insurance will reimburse you for the losses. However, if you lose the funds in your FTM wallet through an attack by a hacker or through personal error there is no way to get your tokens back once they have left your wallet. This risk should be considered when deciding how to store your FTM tokens. Regulatory Risk Digital currencies have not yet received clear guidance regarding laws and regulations. Governmental authorities from around the world have been slow to react to the emergence of cryptocurrencies. Due to this, there is no way to be certain how lenient or harsh regulators’ rules will be when they eventually present them. It’s important to consider these risks before buying or selling digital currencies such as FTM.
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ETH is the native currency of the Ethereum Blockchain, a programmable protocol that supports applications like smart contracts.

BXY is an exchange token that works as loyalty rewards and functional fuel for the Beaxy exchange ecosystem. Greater rewards, discounts, and potential of the platform can be unlocked with BXY.

NEO is an asset run on a distributed smart contract platform. You can exchange NEO and BTC when you place an order on Beaxy.

XRP is a cryptocurrency known for speed and use in global banking. If you’re interested in XRP you can navigate to the coin page to learn more, or the trading page directly to trade.

Litecoin and Bitcoin can be directly swapped for each other on Beaxy. Using the LTC/BTC trading pair allows you to move directly between two of the earliest cryptocurrencies.

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Monero was built for anonymity and is the most popular privacy-focused cryptocurrency. You can move in and out of BTC when you place an order with XMR on Beaxy.

EOS is the base asset of EOS.io, a smart contract platform that is governed by 21 block producers. Swap your EOS and BTC with ease on Beaxy.

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BEAM is a privacy-focused cryptocurrency that protects your identity. You can conveniently swap beam and bitcoin on Beaxy.

DASH is a decentralized payment solution that features instantly settled payments. You can trade DASH and BTC directly on Beaxy.

Basic Attention Token is the native asset of the Brave browser. You can earn BAT by consuming content on the Brave browser. Exchange BAT and BTC efficiently on Beaxy.

AION is a native asset that performs critical functions for The Open Application Network. You can swap AION and BTC directly on Beaxy.

MTL is the base asset for the Metal Pay ecosystem. MTL is used for quick and easy peer-to-peer transactions. Trade for MTL and BTC directly on the Beaxy Exchange platform.

ICX is the native asset of ICON, a decentralized blockchain network that focuses on interoperability. Seamlessly trade ICX and BTC on Beaxy.

VideoCoin (VID) is a cryptocurrency that runs on the Ethereum blockchain. The asset is rewarded to producers and consumers of web-based video content. You can swap VID and BTC directly on Beaxy.

WAVES is a cryptocurrency that is designed to cater to developers. You can conveniently trade WAVES and BTC on Beaxy.

ZRX is the native asset for 0x, an open-source smart contract development platform. ZRX holders can use the token to vote on updates to the network. Seamlessly swap ZRX and BTC on Beaxy.

TOMO is the base asset for the TomoChain platform which uses Proof of Stake Voting to reach consensus. Easily trade TOMO for BTC by placing an order on Beaxy.

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FTM is a smart contract platform that is modeled after Directed Acyclic Graph (DAG). Exchange FTM tokens for BTC on Beaxy.

ZEC is a privacy focused digital asset that giver users the ability to choose between sending public or private transactions. Trade ZEC with BTC on Beaxy.

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