Buy Fantom FTM (€0.338)

Fantom (FTM) is a scalable platform created to enable developers to build decentralized applications (dApps) on the FTM ecosystem. Through the use of aBFT consensus mechanism, the system is able to handle transactions on the blockchain cheaply, quickly and securely. Unlike Ethereum where transaction fees have skyrocketed as the popularity of the ecosystem has also increased. With Fantom you can do a transaction for $0.0000001. Practically speaking, that means nothing. Fantom encourages the use of smart contracts.

Smart contracts

A smart contract makes it possible to automate certain processes or transactions. This greatly reduces the chance of human error. It also brings a bit of security and can reduce costs. The Fantom ecosystem is therefore widely used for trading NFTs and various decentralized finance (DeFi) projects. Since the network can execute a transaction within 1-2 seconds on average, and there are almost no transaction fees involved, it is an ideal ecosystem to run NFT and-DeFi projects on.

Buying Fantom (FTM) is easy through Anycoin Direct. Within minutes you will have the coins in your personal Vault. It works as follows:

Step 1: Create an Account

Don't have an account with Anycoin Direct? Then you can create a free account which will allow you to buy, sell, and trade over 25 cryptocurrencies.

Step 2: Placing an order

After creating your account you can use our platform with the Anycoin Vault. If you want to use a personal wallet you have to verify your account and external wallet. Anycoin Direct supports many common payment methods like iDeal, Bancontact, Creditcard, SEPA, Giropay, SOFORT and VISA. Simply select the coin you would like to buy, fill in the amount you would like to pay and finish the transaction.

Step 3: Buy, sell or trade Cryptocurrencies

Nice! You have completed your crypto order. From here you can easily sell or trade them to another cryptocurrency whenever you want.

Selling Fantom (FTM) is easy through our platform. Through our vault, it is possible to have your crypto coins paid out in Euros, or have your current coins converted to another cryptocurrency such as Bitcoin, for example.

Storing your FTM can be done quick and easy via your personal Anycoin Vault. Before you can use the Vault you will need to activate it in your personal dashboard. Currently you can store FTM purchased through Anycoin Direct exclusively on your personal wallet/Vault. Managing your own cryptocurrencies is a top priority at Anycoin Direct, therefore in the near future we will allow you to send your FTM from your Vault to an external wallet. We will communicate this on our social media channels and through our newsletter.

It makes sense that Fantom has released its own token. The Fantom system allows the use of various protocols, including that of NFTs and DeFi related dApps. The FTM token is therefore used for network security. The token is available on the native mainnet, but also as an ERC-20 and BEP-20 token. Below you can read about all the advantages of the Fantom token.

The token is used to secure the network. You can participate in this by either staking your FTM, or by becoming a validator node. In addition, you can make payments on the entire ecosystem. The protocol charges a very low fee for this. Also, as mentioned earlier, the transaction speeds are extremely fast.

Holders of the FTM coin can also vote for changes on the network. This requires an FTM governance token. So if you are active on the FTM ecosystem, you can hardly avoid it. You will then have to buy some FTM. Since the popularity of this network has grown tremendously in the last year, the price has grown with it.

How does the Fantom consensus mechanism work?

For this purpose, The Fantom Foundation has created Lechesis. Lachesis is Fantom's aBFT consensus algorithm. Simply put, a consensus mechanism is the engine that powers the blockchain. Compared to classical and Nakamoto consensus, Lachesis is a faster, scalable and more secure choice. The aBFT algorithm consists of a strong piece of engineering that allows for several applications.

For example, developer can use Lachesis to build peer-to-peer applications without having to create their own network layer.

The algorithm allows all participants in the network to perform tasks at different times. Thus, it is much more scalable than, say, Bitcoin. In addition, no participant has a special or particular role within the Fantom network. Everyone is basically equal. You could say that the Fantom network employs a leaderless mechanism. Hence, transactions can also be performed within 1 to 2 seconds. There is no need to wait for a block confirmation.

The FTM network has seen a huge surge in the past year as many people realized the large number of advantages of the network. In addition, it has been a problem with Ethereum for years that the transaction fees are too high. For example, at times when you made a transaction worth $50 in Ethereum, you may have had to pay almost $35 in transaction fees. This problem has completely disappeared with FTM.

What is a consensus algorithm?

The consensus mechanism is the core of distributed technologies. In a decentralized environment, where no central party validates transactions, the consensus protocol ensures that all participants in the network reach an agreement: the network as a whole validates transactions in a completely trustless manner. Classical consensus protocols have been around for a long time and have been used in distributed databases since the 1980s.

Asynchronous Byzantine Fault Tolerance (aBFT).

Asynchronous Byzantine Fault Tolerance is the highest standard of consensus algorithms. It solves the blockchain Scalability Trilemma, according to which only two of the following three components are possible at once: decentralization, security, and scalability. Fantom uses a DAG-based aBFT consensus algorithm. They have called this system Lachesis. Lachesis is asynchronous and leaderless.

Lachesis is designed to easily plug into applications written in certain programming languages. So developers only need to focus on building applications on the FTM network.

Lachesis then connects to other Lachesis nodes and guarantees that everyone processes the same commands in the same order. In short, a complete ecosystem which is alive and well and can process transactions quickly and securely.

The Fantom Foundation was founded by South Korean computer scientist Dr. Ahn Byung Ik. But currently Michael Kong is the CEO of the ecosystem. The team behind Fantom in particular has extensive experience in full-stack blockchain development and focuses on creating a platform for smart contracts that prioritizes scalability, decentralization and security. The team has many in-house skills available. Everything from engineers, developers, scientists, researchers and designers.