The Ethereum blockchain actually became the beginning of a new era in the economy. Today, decentralized applications and smart contracts are perhaps the best way to optimize business processes. Not surprisingly, after just a few years, Ethereum has acquired quite ambitious competitors.
The popularity of the platform quickly exceeded its throughput, which actually prompted technical thought to search for more advanced solutions. The so-called Ethereum killers include Fantom.
What Is Phantom
Fantom is a fast, high-performance smart contract blockchain platform. On the basis of the blockchain it is possible:
1. Create a unified infrastructure that will include previously incompatible platforms, tools for fast operations, and online data exchange.
2. Create DApps.
3. Create coins and other tokenized assets.
The developers plan to use the technical capabilities of the Fantom blockchain in telecommunications, electric vehicles, logistics, finance, and possibly other industries.
Features of the blockchain and its native token
Nearly instant transactions. The transaction is completed within 1 second. For comparison, processing a USDC to ETH swap on the Ethereum blockchain will take at least 16 seconds. In addition, Fantom is also suitable for micropayments.
1. High scalability.
2. High security. The network operates on Proof-of-Stake (PoS).
3. Compatibility with the Ethereum virtual machine (EVM) consisting of individual nodes. ETH decentralized applications can also be run on the Fantom network.
The FTM coin is used in blockchain governance. In addition to the main network of the project, FTM is issued on the Ethereum and Binance Smart Chain blockchains.
At the moment, the coin takes 61st place in the ranking of the most capitalized cryptocurrencies and is traded at $0.19. The further fate of the coin now largely depends on the general situation on the market. When the market begins to recover from the crisis and is subject to further improvement of the network, the coin may turn out to be a profitable investment.
Where To Buy Phantom
The coin is actively traded on many centralized and decentralized cryptocurrency exchanges and is also available in numerous crypto exchanges.
Centralized cryptocurrency exchanges were created by analogy with the classic currency and stock online exchanges. Accordingly, their functionality was initially similar to the traditional one, and the technical capabilities for trading are gradually expanding. However, many CEXs require KYC, and this will most likely become a widespread practice in the next decade.
Decentralized crypto exchanges do not require KYC to access the platform, but are set up differently. In addition, DEX is a very young segment of the market and, in many respects, is still noticeably inferior to centralized sites.
KuCoin is one of the largest centralized exchanges where you can trade Phantom without account verification. This platform is one of the leaders in terms of the number of digital assets and trading pairs. There are no commissions for replenishing a deposit in cryptocurrency, commissions for withdrawal must be specified for each specific coin. It is quite expected that the trading opportunities for anonymous and verified clients differ markedly. The platform is available as a web interface and a mobile application.
The Huobi centralized crypto exchange also does not yet require mandatory account verification. The platform supports more than 600 cryptocurrencies, margin trading is available. It is worth noting that direct FTM to ETH conversion is not available, unlike KuCoin. Many users consider the mobile application to be one of the most user-friendly of its kind.
Uniswap is one of the largest decentralized cryptocurrency exchanges currently operating. The platform uses an automatic market maker mechanism. All you need to trade on Uniswap is a DEX-compatible cryptocurrency wallet.
The LetsExchange fast cryptocurrency exchange service provides excellent conditions for buying and selling more than 2000 coins and tokens. Transactions are executed automatically after filling the exchange widget. The widget is available from any page of the site. It is extremely easy to exchange digital assets on LetsExchange, even if you are just starting to get acquainted with the crypto world. Registration and account verification is not required.