Fantom (FTM) is a blockchain platform that works with a DAG-based distributed ledger consensus using principles called aBFT and offers a secure virtual machine for smart contracts. Fantom (FTM) aims to add a new dimension to smart contracts by using the Lachesis protocol with its main system called DAG. Nodes in the phantom coin network do not need to be aware of the existence of other nodes in the network when joining the network. The phantom network uses timestamps called Lamport to obtain topographic rankings of event blocks.
Fantom coin has a general framework called Lachesis, based on DAG, for building scalable and distributed systems. ONLAY, developed by the Phantom developer team and featured as a consensus protocol based on the Lachesis framework, also provides fault tolerance called “Byzantine Fault Tolerance” if one-third of the network participants at risk are present. One of the main focuses of Fantom is the creation of a fast network and a reliable network for transactions.
Features of Phantom (FTM) Token?
FTM, the native token of the phantom blockchain network, is envisioned to have certain functions. These functions are:
The FTM staking process, which stands out as one of the most important transactions envisaged to continue with FTM coin, is based on the principle of securing the network in return for block and transaction rewards. Nodes are ranked according to their speed of confirming transactions, earning FTM coin rewards within the Phantom network.
Users can pay fees arising from transfer transactions on the network using FTM coins, and flow on the network can be achieved using the FTM token.
Each token holder running in-network validator nodes called “Validator Nodes” and/or staking their FTM tokens on a node; can vote using FTM coins to change the main structure of the network, block rewards and various system parameters.
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