Fantom
Cryptocurrency
1 Year Change
↑11.32%
Buy now

Fantom (FTM)

FTM/ZAR: Convert Fantom (FTM) to South African Rand (ZAR)

Fantom is a blockchain platform that focuses on high speed, low cost, and scalable transactions. It's designed to support decentralised applications (dApps) and facilitate secure, near-instantaneous transactions.

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Fantom (FTM) Price

FTM Last Price
R5452.78
FTM 1y Return
↑11.32%
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FTM
ZAR
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Pricing data is provided by Altify and excludes fees. Visit our Pricing page for more information on all fees and charges.

Fantom (FTM) Returns

As of December 12, 2023 11:00 PM GMT+2

24 hours

↑11.32%

1 month

↑11.32%

3 months

↑11.32%

6 months

↑11.32%

1 year

↑11.32%

Since Inception*

↑11.32%
* The Fantom (FTM)  inception date was 22 November 2018.

About Fantom (FTM)

Fantom (FTM) is a blockchain platform designed to support decentralised applications (dApps) and smart contracts. It features a unique consensus mechanism that ensures high transaction speeds without sacrificing decentralisation or security. This balance addresses the "blockchain trilemma," which typically involves trade-offs between speed, security, and decentralisation. Fantom aims to optimise all three through its innovative proof-of-stake (PoS) consensus mechanism, Lachesis.

The native token of the Fantom network, FTM, serves multiple purposes, including staking, governance, payments, and transaction fees. Validators, developers, and community members receive FTM tokens as rewards funded by transaction fees.

Fantom was created to overcome the limitations of earlier blockchain platforms like Bitcoin and Ethereum, specifically their long transaction times. Validators stake FTM tokens to participate in the validation process, which enhances network security and aligns their interests with the network's proper functioning. Additionally, Fantom's treasury, funded by transaction fees and other revenues, supports ongoing development and new initiatives.

How Does Fantom (FTM) Work?

The Fantom network was designed to offer high transaction speed while maintaining security and scalability built around four core principles:

Modularity

Fantom’s modular architecture allows for extensive customisation. For example, users can seamlessly transfer Ethereum-based decentralised applications (dApps) to the Fantom mainnet, which operates on Opera, Fantom's open-source blockchain.

Scalability

Applications on Fantom function independently, ensuring that the performance and stability of one application remain unaffected by the network traffic of others.

Open Source

The Fantom protocol is open-source, enabling anyone to run a node and modify the underlying code.

Security

Fantom is secured by the Lachesis consensus mechanism, which the Fantom team claims is faster, more secure, and more scalable than both the Classical and Nakamoto consensus systems.

What Gives the Fantom (FTM) Token Value?

Fantom addresses scalability issues of traditional blockchains with its high-speed Lachesis consensus mechanism. Lachesis is leaderless, offers finality, and provides Asynchronous Byzantine Fault Tolerance, allowing the chain to scale without compromising security. Transactions on the Fantom network clear in one second and cost fractions of a penny.

Developers can build dApps and run smart contracts on Fantom, with numerous projects already deployed in the decentralised finance (DeFi) space. Examples include cross-chain swaps by 1inch, decentralised exchanges like SushiSwap, NFT projects such as BitGem and Bitlootbox, and cryptocurrency-accepting travel services like Travala.

What Makes Fantom (FTM) Unique?

Traditional blockchain systems, such as the Bitcoin blockchain, aren't designed for scalability; rather, they prioritise security and decentralisation. A transaction on the Bitcoin network, for example, can take anywhere from 10 to 15 minutes which makes scaling the network in terms of transactions difficult.

The Fantom team aims to fill this gap by utilising a leaderless proof-of-stake (PoS) protocol that is used to protect the network (i.e., the blockchain does not compromise security or decentralisation). Moreover, a transaction on the FTM network takes 1–2 seconds to complete with the transaction costs being far lower than those of Bitcoin.

The Fantom Opera mainnet is Ethereum Virtual Machine (EVM)-compatible and supports full smart contract functionality via Solidity. Fantom's network is unique in that it is self-contained, meaning that the performance of one area's traffic congestion has no bearing on other areas of the network.

What is Fantom (FTM) used for?

The Fantom network's primary token, FTM, is utilised for payments, governance, staking and fees and for safeguarding the network.

Payments

The Fantom network's speedy finality makes the payments faster (take around a second). Moreover, high throughput and low costs (roughly $0.0000001) make the FTM token perfect for exchanging money.

Governance

For on-chain governance, FTM is required where stakeholders can propose and vote on modifications and improvements through governance. Because Fantom is a fully permissionless and leaderless decentralised ecosystem, on-chain governance is in charge of all network decisions. Therefore, the governance token, FTM, must participate in the voting process.

Staking

FTM can be used to stake to secure the Fantom network and receive FTM tokens as a reward without requiring any special hardware or software. You can do it from your phone or computer — it's as simple as that!

Network Fees

FTM is used to pay for network fees such as fees for deploying Fantom smart contracts or creating new networks or even transaction fees. The fee ensures that the network is not an easy target for spam, and a malicious user cannot cause speed issues or clog the ledger with meaningless data. Although the fees on Fantom are pretty low, they are sufficient to keep the attackers away by making entry into the system exceedingly costly for a malevolent actor.

Network Security

With the use of a proof-of-stake system, the FTM token aims to secure the network where stakers need to lock their tokens, and validators need to hold a minimum of 3,175,000 FTM to participate. Fees and epoch rewards are given to stakers and validators for their services.

Fantom’s combination of speed, security, scalability, and unique features make it a promising platform for various blockchain applications.

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How to Buy Fantom (FTM)

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FTM markets

Explore popular FTM trading pairs on Altify. You can swap FTM for FIAT and stablecoins.

FTM to USD
FTM to GBP
FTM to EUR
FTM to ZAR
FTM to USDC
FTM to USDT
USD to FTM
GBP to FTM
EUR to FTM
ZAR to FTM
USDC to FTM
USDT to FTM

Crypto Risk Disclosure

High Volatility and Risk of Loss:

Investing in crypto assets involves significant risk, and may result in the loss of capital. Cryptocurrency markets are highly volatile and may experience sudden and substantial fluctuations in value. As such, there is a possibility that you may receive an amount less than your original investment or experience a complete loss of your initial investment's value.

Remember past performance doesn’t guarantee future results and we can’t guarantee returns since asset prices move based on supply and demand, so never trade with funds you can’t afford to lose.

Altify does not provide investment advice or recommendations. As an investor, you are responsible to make decisions regarding your investments. You should seek professional advice if you're uncertain about the suitability or appropriateness of any investment for your specific circumstances or needs.

Lack of Regulation and Protections:

While the cryptocurrency industry is gradually becoming more regulated, it remains largely unregulated. As a result, your holdings are not protected by any government-backed insurance scheme or financial services compensation scheme. In the event of a loss, theft, or cyber attack, there is no guarantee that you will be able to recover your funds.

Irreversibility of Transactions:

Crypto transactions are irreversible. Sending funds to an incorrect address or falling victim to fraudulent activities may result in the permanent loss of your assets. Ensure all transaction details are correct before proceeding.

Market Liquidity and Accessibility:

Under certain market conditions, it may be difficult or impossible to liquidate a position quickly at a reasonable price. The value of your crypto assets is driven by market demand, which can fluctuate and potentially result in a total loss of value.

Tax and Legal Considerations:

Investing in cryptocurrencies may result in tax liabilities. It is your responsibility to understand and comply with your local tax laws and regulations. Cryptocurrencies may also be subject to changes in legislation that could affect their use, value, and legality.

Further information can be found in the General Risk Disclosures and Crypto Risk Disclosures on our website. Investments should only be made by investors who understand these risks.