What is FTM / Fantom?

Posted on November 24, 2022  •  2 minutes  • 246 words

FTM (Fantom) is a decentralized platform for building and running applications that use blockchain technology. It was created by the company Fantom Foundation, with the goal of providing a fast and scalable platform for the development of decentralized applications (dApps).

One of the main use cases for FTM is as a platform for the creation of smart contracts. A smart contract is a program that automatically executes the terms of a contract when certain conditions are met. FTM’s smart contract platform is designed to be faster and more scalable than other existing platforms, such as Ethereum.

Another use case for FTM is as a platform for the creation of custom digital assets. FTM allows for the creation of tokens that represent specific assets, such as a currency, a commodity, or a piece of property. These tokens can be easily transferred and traded on the FTM network, providing a more secure and efficient way to manage and trade assets.

Additionally, FTM can be used for decentralized finance (DeFi) applications. DeFi is a growing area of the blockchain industry that involves the use of smart contracts and other blockchain-based technologies to enable financial transactions and services without the need for intermediaries such as banks or credit card companies. FTM’s fast and scalable platform is well-suited for the development of DeFi applications.

Overall, FTM has a number of compelling use cases, and its focus on speed and scalability make it an exciting platform for the development of decentralized applications.