The Block • Aug 09, 22
Fantom community voting on a proposal to reduce staking rewards
Fantom (FTM) token emissions may continue beyond 2024 based on the outcome an ongoing governance vote that seeks to cut staking rewards.
Fantom can be traded using Coinbase Wallet, your key to the world of crypto.
Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
The price of Fantom has risen by 6.93% in the past 7 days. The price declined by 2.58% in the last 24 hours. In just the past hour, the price shrunk by 4.15%. The current price is $0.180101 per FTM. Fantom is 94.82% below the all time high of $3.48.
The current circulating supply is 2,545,006,273 FTM.
is a platform offering ledger services to businesses and applications. The network intends to operate as open-source so that anyone can use it and customize it to their needs. The platform is permissionless; therefore, anyone can run code. Also, the network seeks to develop an infrastructure for a more connected and efficient future so that people can benefit from technological breakthroughs to better the quality of their lives.
is designed to overcome the limitations of the previous-generation blockchain networks. The previous networks face the “blockchain trilemma”: a trade-off in distributed ledger technologies to balance security, decentralization, and speed. The limitation is that it is impossible to optimize all three factors simultaneously without compromise. Fantom resolves this issue by achieving asynchronous Byzantine fault tolerance (aBFT), a consensus enabling transactions to be processed non-simultaneously, thus enhancing the speed and the throughput of transactions. The consensus lets the nodes in the network confirm event blocks comprising transactions, independent of any timing assumptions. Further, aBFT can reach an agreement on transactions despite losing some of the messages between nodes.
Further, the network uses, a safe and fast environment to build decentralized applications () that take one second to finalize and settle a transaction compared to several minutes taken by other networks.
In addition to the above, the network’s a consensus algorithm is , a leaderless, Byzantine fault tolerant, final, and asynchronous system. Being Byzantine fault tolerant, the system still operates even if some of the nodes act maliciously or fail to work, and finality means that a transaction cannot be altered or reversed by any party. Since the Lachesis algorithm has a very low time to finality, it achieves absolute finality, meaning a transaction is considered final once it is included in a block. And being a leaderless algorithm implies that the platform’s security doesn’t rely on a small set of actors, as the algorithm removes leaders. Lachesis can be used to create decentralized applications for sectors, such as payments, supply chain tracking, healthcare data storage, etc.
Owing to its architecture, the platform offers the following features:
Scalability: Each network’s stability and performance are independent of any effect by traffic since they are independent of one another. Every application is given its blockchain.
Security: That emerges from the platform’s absolute finality mechanism.
, an (a standard for creating and issuing on the blockchain), is the native currency of the platform. The coin is used for safeguarding the network via a system. The tokens can be used to send and receive payments and maintain on-chain governance. To participate in the voting process to propose any changes and improvements, users need to have the FTM token. The coin can also be utilized for paying network fees, smart contracts’ deployment fees, transaction fees, etc.
Moreover, the token can be used as collateral on the network’s upcoming DeFi. refers to an emerging financial technology that eliminates central control of banks and institutions on financial products, money, and financial services.
The developed the platform, and Michael Kong is the CEO/CIO. Further, the team comprises 21 other members, including Andre Cronje (DeFi architect), David Richardson (director), Samuel Hardcourt (director), Simone Pomposi (CMO), and others.
The token was launched in 2018. Further, the maximum total supply of the token is 3.175 billion.
Token holders can their coins and earn FTM tokens as a . can be carried out directly by using a phone or a PC. There’s no minimum staking, and users can stake one token and earn rewards on it. Further, the platform has a fluid staking model in which stakers can select a lock-in period between 0 and 365 days. The higher the lock-in period, the higher the reward percentage.
Assets with the biggest change in unique page views on coinbase.com over the past 24 hours.
The price of 1 Fantom currently costs $0.18.
The current market cap of Fantom is $458.18M. A high market cap implies that the asset is highly valued by the market.
The all-time high of Fantom is $3.48. This all-time high is highest price paid for Fantom since it was launched.
Over the last 24 hours, the trading volume of Fantom is $55.54M.
The current circulating supply of Fantom is 2.5 billion.
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