Fantom is a new-generation decentralized finance platform that lets users build and set up their private networks on top of Fantom's mainnet. Fantom is integrated with Ethereum, which allows decentralized applications deployed on the latter to run smoothly on Fantom. The platform utilizes a Proof-of-Stake consensus protocol which guarantees its security.
The FTM currency is the Fantom utility token that users of the platform employ to perform different activities in the ecosystem. First of all, FTM holders can become on-chain validators and receive transaction fees for their services. FTM is also a governance token, so owners of the currency can vote on the future development of the platform. Fantom users can delegate their FTM to validators and receive rewards for staking. It is important to note that there are several variations of the FTM token. For instance, there is the FTM token of Fantom’s Opera Mainnet and the ERC-20 FTM of the Ethereum blockchain, yet they are both interchangeable.
FTM Payment benefits:- Massive Throughput
Developers designed Frontier with scalability in mind, and the platform ultimately aims to achieve the target of processing thousands of transactions per second which translates into high-speed FTM transfers. - Fees
Fantom platform keeps transaction fees low, and on average, they cost $0.0000001 per transaction. - Fantom Native Wallet
Fantom has a native wallet where users can easily store their FTM tokens and stake them to receive awards.