Fantom (FTM)

Fantom (FTM) was founded by a team of experienced individuals with backgrounds in technology, finance, and blockchain.

The key figures behind Fantom are:

1. Dr. Ahn Byung Ik (Michael Kong): Dr. Ahn Byung Ik, also known as Michael Kong, is the CEO and founder of Fantom. He has a background in computer science and has been involved in various blockchain projects prior to founding Fantom. Dr. Ahn is known for his expertise in distributed systems and consensus algorithms, which have been instrumental in the development of Fantom’s Lachesis Protocol.

2. Andre Cronje: Andre Cronje is a prominent figure in the blockchain space and is known for his contributions to various DeFi projects. He was an early advisor to Fantom and provided valuable insights into the development of the platform. Andre’s experience in decentralized finance has helped shape Fantom’s approach to building a robust DeFi ecosystem.

3. Michael Chen: Michael Chen is the CMO (Chief Marketing Officer) of Fantom and is responsible for the marketing and community engagement efforts of the project. He has a background in marketing and has played a key role in promoting Fantom and expanding its user base.

4. Franck Yelles: Franck Yelles is the CTO (Chief Technology Officer) of Fantom and oversees the technical development of the platform. He has a strong background in software development and has been instrumental in implementing the Lachesis Protocol and other technical features of Fantom.

These founders, along with a dedicated team of developers, designers, and business professionals, have been working tirelessly to build and grow the Fantom ecosystem. Their combined expertise in technology, finance, and blockchain has been crucial in positioning Fantom as a leading blockchain platform for scalable and efficient decentralized applications.

Fantom (FTM) stands out in the crowded blockchain space due to several unique features and characteristics that set it apart from other platforms.

Here are some key aspects that make Fantom unique:

1. Lachesis Protocol: Fantom’s innovative aBFT (asynchronous Byzantine Fault Tolerance) consensus mechanism, known as the Lachesis Protocol, is one of the key features that make Fantom unique. This protocol allows for fast and secure transactions by enabling parallel processing of transactions, leading to high throughput and low latency. The Lachesis Protocol is designed to address the scalability issues faced by traditional blockchain platforms.

2. High Throughput and Low Latency: Fantom is designed to handle a high volume of transactions per second, making it suitable for applications that require fast and efficient processing. The platform’s high throughput and low latency enable quick confirmation times for transactions, providing a seamless user experience.

3. Low Transaction Fees: Fantom offers low transaction fees compared to many other blockchain platforms. This makes it cost-effective for users to interact with decentralized applications and conduct transactions on the Fantom network, especially for microtransactions and frequent transfers.

4. DeFi Focus: Fantom has a strong focus on decentralized finance (DeFi) applications and has built a robust DeFi ecosystem on its platform. Projects such as lending platforms, decentralized exchanges, and yield farming protocols leverage Fantom’s high speed and low cost transactions to offer efficient financial services to users.

5. Interoperability: Fantom is designed to be interoperable with other blockchain networks, allowing for seamless communication and data transfer between different platforms. This interoperability feature enhances the usability of Fantom for cross-chain transactions and collaborations with other blockchain projects.

6. Community Governance: Fantom has a decentralized governance model that allows token holders to participate in decision-making processes related to the platform’s development and future direction. This community-driven approach promotes transparency and inclusivity within the Fantom ecosystem.

Overall, Fantom’s combination of innovative technology, high performance, low costs, focus on DeFi, interoperability, and community governance make it a unique and promising blockchain platform in the rapidly evolving crypto landscape.

The total supply of Fantom (FTM) coins is capped at 3.175 billion tokens.

The distribution of FTM coins is as follows:

1. Token Sale: A portion of the total token supply was allocated for the initial token sale or fundraising rounds conducted by Fantom. These tokens were sold to investors to raise funds for the development and growth of the project.

2. Team and Advisors: Another portion of FTM tokens was allocated to the founding team, advisors, and early contributors to incentivize their involvement in the project. These tokens are typically subject to vesting schedules to ensure long-term commitment and alignment of interests.

3. Ecosystem Development: A portion of FTM tokens is reserved for ecosystem development, including partnerships, marketing, community building, and other activities aimed at growing the Fantom platform and expanding its reach.

4. Community Incentives: FTM tokens are used to incentivize community participation, such as staking, governance voting, and other activities that contribute to the health and growth of the Fantom ecosystem.

5. Reserve: A reserve of FTM tokens is typically held by the Fantom Foundation to support ongoing operations, future development, and any unforeseen expenses that may arise.

The circulating supply of FTM coins refers to the number of tokens that are actively trading on the market. This number can fluctuate based on factors such as token releases, token burns, and token lock-ups. It is important to check a reliable cryptocurrency data source or the Fantom project’s official announcements for the most up-to-date information on the circulating supply of FTM coins.

The Fantom (FTM) network is secured through a combination of cryptographic algorithms, consensus mechanisms, and network participants.

Here are the key components that contribute to the security of the Fantom network:

1. Lachesis Protocol: Fantom utilizes the Lachesis Protocol, an asynchronous Byzantine Fault Tolerance (aBFT) consensus mechanism, to secure the network and validate transactions. This protocol allows for fast and secure transaction processing by enabling parallel processing of transactions and ensuring consistency among network participants.

2. Validator Nodes: The Fantom network relies on a set of validator nodes that participate in block creation, validation, and consensus. These validator nodes are responsible for verifying transactions, proposing new blocks, and securing the network against malicious activities.

3. Staking Mechanism: Fantom implements a Proof-of-Stake (PoS) mechanism that allows users to stake their FTM tokens to become network validators. Stakers are incentivized to act honestly and contribute to the security of the network by earning rewards for validating transactions and maintaining the integrity of the blockchain.

4. Finality: The Lachesis Protocol used by Fantom provides fast finality for transactions, meaning that once a transaction is confirmed by the network, it is considered irreversible. This finality ensures the security and immutability of transactions on the Fantom blockchain.

5. Decentralization: Fantom aims to achieve a high level of decentralization by distributing control among a large number of validator nodes. This decentralization helps prevent single points of failure and enhances the network’s resilience against attacks.

6. Security Audits: The Fantom team conducts regular security audits of the network’s codebase, smart contracts, and infrastructure to identify and address potential vulnerabilities. By proactively addressing security issues, Fantom enhances the overall security posture of the network.

7. Community Governance: Fantom’s decentralized governance model allows token holders to participate in decision-making processes related to network upgrades, security enhancements, and other important matters. Community involvement in governance promotes transparency and accountability, contributing to the overall security of the network.

Overall, the combination of the Lachesis Protocol, validator nodes, staking mechanism, finality, decentralization, security audits, and community governance measures work together to ensure the security and integrity of the Fantom (FTM) network.