Learn about the origin of FTM currency in one article

FTM Coin was issued on April 25, 2018 and was developed by the Fantom Foundation to solve the scalability, transaction speed and fee challenges of existing blockchains. Through its unique consensus mechanism and virtual machine, FTM Coin achieves high scalability (thousands of transactions per second), fast transactions (less than 2 seconds to confirm), low transaction fees, and uses the following technologies: Lachesis Consensus, Opera Virtual machine and DAG data structure. FTM coins are used to pay transaction fees, mortgage and participate in governance.

FTM Coin Issuance Time

FTM Coin was issued on April 25, 2018.

Origin of FTM Coin

Background:

FTM Coin is a digital currency developed by the Fantom Foundation, which Aims to build a high-performance, scalable blockchain platform.

Founded:

Fantom Foundation was founded by South Korean computer scientist and entrepreneur Ahn Byung Ik. Team members have expertise in distributed systems, cryptography and fintech.

Goals:

FTM Coin aims to solve the challenges of existing blockchain platforms in terms of scalability, transaction speed and fees. It achieves the following goals through its unique consensus mechanism and virtual machine:

• High scalability: Supports thousands of transactions per second.
• Fast transactions: Transaction confirmation takes less than 2 seconds.
• Low Transaction Fees: Transaction fees are lower compared to other blockchain platforms.

Technology:

FTM Coin is based on the Fantom Opera blockchain, which uses the following technology:

• Lachesis Consensus Mechanism: An asynchronous Byzantine fault-tolerant consensus algorithm that can handle a large number of transactions without affecting performance.
• Opera Virtual Machine: A high-performance virtual machine that supports the execution of smart contracts and dApps.
• Directed Acyclic Graph (DAG): A data structure that optimizes transaction processing and reduces the risk of congestion.

By issuing FTM coins, the Fantom Foundation raises funds to support the development and promotion of the Fantom Opera blockchain. FTM coins are used for the following purposes:

• Paying transaction fees: Users need FTM coins to pay transaction fees on the blockchain.
• Staking: Verifiers stake FTM coins to participate in the consensus process and receive rewards.
• Governance: FTM coin holders can participate in Fantom community governance and vote to determine the development direction of the platform.

Current Price and Indicators

Fantom (FTM) is currently trading at $0.70 with a 24-hour trading volume of $285 million. The circulating supply is 2803634835.5 FTM and the market cap is $1.977 billion.

Latest Changes

Over the past 24 hours, FTM price has increased by around 9%, climbing from around $0.65 to current levels.

Factors for price movement

FTM price increase may be attributed to the following factors:

• Overall optimism about the cryptocurrency market
• The development of the Fantom ecosystem, including the growth of DeFi and NFT projects
• FTM is used to pay for increased transaction and storage fees on the Fantom blockchain

Future Outlook

The short-term price trend for FTM is bullish, as both market trends and fundamentals support continued gains. However, due to the high volatility of the cryptocurrency market, price movements can reverse at any time.

What investors should do

Investors should carefully consider their investment objectives and risk tolerance when investing. FTM is a highly volatile asset that may be suitable for active investors, but it may also not be suitable for investors looking for stable returns.

Short Term Forecast

FTM prices are expected to continue rising in the short term, but the upside may be affected by market conditions. Investors should pay close attention to cryptocurrency market trends and developments in the FTM ecosystem to make informed investment decisions. : 1.977 billion US dollars

Circulation volume: 2803634835.5 FTM

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