Fantom (FTM) is a highly scalable, open source, fully permissionless, and decentralized smart contract platform designed to address the limitations of previous blockchain technologies.
The FTM token, serving as the native utility token, facilitates transactions, staking, DAO voting, and peer-to-peer payments, among other uses.
Fantom Sonic offers greater scalability and storage to developers, and a more streamlined user experience. The use of the Lachesis consensus mechanism allows it to achieve transaction finality in 1-2 seconds on average, with the capability to process thousands of transactions per second and scale to hundreds of nodes without compromising security. This approach ensures institutional-grade security and leaderless consensus, meaning security does not rely on a centralized group of actors for block production.
The Fantom Virtual Machine (FVM) offers higher execution performance compared to the Ethereum Virtual Machine (EVM), increasing the number of transactions per second, and is fully compatible with Ethereum-based smart contracts. Developers can create and deploy smart contracts on Fantom to benefit from the platform's enhanced performance and cost-efficiency. This compatibility extends to developer tools, APIs, and the ability to deploy a wide range of decentralized applications (dApps).
Fantom has introduced several initiatives such as the gas monetization program, which aims to provide sustainable finance options for prominent dApps by returning a portion of the gas fees generated by these applications. The gas subsidy feature is planned to facilitate user interaction with dApps without the need for FTM tokens for gas fees in their wallets.
Fantom's Ecosystem Vault, a community-controlled fund dedicated to supporting projects and financing improvement proposals approved by the community.
