Where Fantom (FTM) is Accepted Locally and Globally
FTM is the token of the smart contract platform Fantom, which (despite having a cool name) is often characterized as “Baby Ethereum.” But this is one fast baby, it’s DAG can process thousands of transactions per second, with 1–2 second transaction finality time making it a viable commerce coin. It’s accepted by nearly 300 real-world businesses from ComputechMx, a Mexican computer and gaming gear marketplace to Tree of Life Guitars in London.
Who accepts Fantom…
Are you an Entrepreneur, freelancer, or manager of a business accepting cryptocurrency?
Should you buy Fantom?
Or accept it as payment (and hold it long-term?) FTM is used for stacking, governance, network fees, and as collateral to use the Fantom ecosystem.
- In 2021, it experienced a meteoric rise in token price from under 1 cent to over 3 dollars, and it currently has a respectable market cap of $3.2 billion.
- Back in the ICO boomtimes of 2018, Fantom raised nearly $40 million and in 2021, Alameda Research has acquired a $35 million stake in the Fantom ecosystem through the purchase of FTM.
- In 2021 they held a successful developer Conference in Abu Dhabi.
Fantom distinguishes itself among smart contract platforms by running on, not a blockchain, but a DAG (directed acyclic graph). This (damn-near-impossible to wrap your mind around) technology may be something you want to bet on…
But don’t bet the farm. Fantom is, in all likelihood, not the stuff of Vitalik Buterin’s nightmares, he’s probably isn’t losing a lot of sleep over Fantom, which is more accurately characterized as “Baby Ethereum” than it is an “Ethereum killer.”
- Fantom advisor Andre Cronje, the creator of yearn.finance, actually called FTM a shitcoin publicly and has just recently left Fantom along with Anton Nell, a renowned developer.
- It competes with Ethereum and other smart contract platforms, its research whitepapers are peer-reviewed like Cardano’s.
- There are questions about its centralization, the majority of tokens are held in relatively few hands.
Originally conceived as a smart contract platform for smart cities, Fantom is solidly statist. They’ve secured partnerships with the governments of Tajikistan and Afghanistan, to Build CBDC Solution and combat pharmaceutical drug fraud, respectively.
About Fantom (FTM)
The Fantom Foundation itself names payments as a use-case for FTM…
The FTM token is ideal for sending and receiving payments thanks to the Fantom network’s high-throughput, fast finality, and low fees.
On Fantom, money transfers take around 1 second and cost about $0.0000001. Yep, that’s a lot of leading zeros 😉
From fantom.foundation
Built on our novel Lachesis protocol, Fantom’s Opera platform is a public, leaderless, asynchronous BFT, layer-1 blockchain, with guaranteed deterministic finality. Hence, Lachesis protocol is suitable for distributed ledgers by leveraging asynchronous partially ordered sets with logical time ordering instead of blockchains. We also present our proofs into a model that can be applied to abstract asynchronous distributed system.
From Whitepaper 2.0: Lachesis: Scalable Asynchronous BFT on DAG Streams
