Tag: Is Fantom built on Ethereum?

What is FTM? FTM is the primary token on the Fantom network . FTM is used for securing the network through staking, for governance, for payments, and for fees.

Fantom is modular Lachesis powers Fantom’s Opera mainnet deployment, that uses the Ethereum Virtual Machine (EVM) and it’s compatible with Ethereum . The modularity makes Fantom exceptionally flexible.

The Fantom Foundation, which takes care of the development of Fantom, was founded by Dr. Ahn Byung Ik, a South Korean computer scientist. Michael Kong acts as the CEO. FTM was launched in late 2018 and began trading for about $0.02.

The Fantom Foundation, which oversees the Fantom product offering, was originally created in 2018, with the launch of OPERA, Fantom’s mainnet, coming in December 2019 . Fantom is an open-source decentralized smart contract platform for DApps and digital assets that was created as an alternative to Ethereum.

The $FTM Token is the Gas on the Fantom network, so we need to get some $FTM Tokens into our newly configured Wallet.

FTM tokens are used for staking, governance, payments, and fees on the network . There is a total supply of 3.175 billion FTM coins, with 2.5 billion in circulation as of March 2021. The remainder will be distributed as Fantom staking rewards.