Fantom (FTM) is making significant strides in the blockchain space with its high-performance, scalable, and secure smart contract platform. This article delves into the essential aspects including its technology, wallet options, price predictions, and the functionality of cross-chain bridges.

What is Fantom (FTM) Crypto?

It is a next-generation blockchain platform founded by Dr. Ahn Byung Ik, a South Korean computer scientist, to offer decentralized finance (DeFi) services to developers using its bespoke consensus algorithm, Lachesis. Fantom aims to overcome the limitations of older blockchain platforms, providing fast, secure, and scalable solutions for digital transactions.

Unique Features of Fantom

• Speed and Scalability: Fantom’s Lachesis consensus algorithm can process twenty thousand transactions per second (TPS) and achieve transaction finality in about 1-2 seconds. This is significantly faster than Ethereum, which can process around 15 TPS.
• Security: Lachesis ensures the network is secure and maintains Byzantine Fault Tolerance (BFT), meaning it can function correctly even if some nodes fail or act maliciously.
• Interoperability: It is designed to be compatible with Ethereum, allowing developers to transfer their Ethereum-based applications seamlessly to the Fantom network.

Fantom Coin (FTM): The native token FTM, is used for staking, governance, and transaction fees. It is integral to the network’s operation, ensuring security and incentivizing participation from network validators.

Latest Developments: Why Invest in FTM?

Fantom has recently seen several significant developments, making it an attractive investment opportunity:

Technological Advancements:

Sonic Upgrade: The upcoming Sonic upgrade promises to further increase the network’s speed and reduce transaction costs, enhancing user experience and expanding its DeFi ecosystem​. For detailed and up-to-date information, please visit the Sonic Status page.

Adoption and Growth:

• Defi Ecosystem: Fantom’s DeFi ecosystem includes popular projects like SpookySwap, Yearn Finance, and SushiSwap, providing diverse opportunities for yield farming and liquidity provision​.
• NFT, AI, and Gaming: It is also making strides in the NFT, AI, and gaming sectors, which are expected to boost the platform’s adoption and utility.

Why Invest in FTM?

Investing in FTM offers several benefits:

• High Potential for Growth: With its technological advancements and expanding ecosystem, It is well-positioned for substantial growth​.
• Staking Rewards: By participating in the network, investors can earn attractive staking rewards, providing a source of passive income while helping secure the network. Staking FTM tokens contributes to the stability and reliability of the blockchain. For more information, visit the Fantom Staking page.
• Expanding Ecosystem: Fantom’s growing ecosystem increases the utility and demand for FTM, potentially driving its price higher. The platform’s focus on DeFi, NFTs, gaming, and its integration of AI technology contributes to a comprehensive and versatile blockchain solution. These advancements attract more developers and users to its ecosystem, enhancing its overall value and functionality. 

Fantom Staking: Earn Rewards

Staking FTM tokens is an attractive way to earn rewards while contributing to network security. Here’s how it works:

• Minimum Requirement: Staking FTM requires a minimum of 1 FTM, making it accessible to all holders.
• Rewards: Stakers can earn competitive returns based on the amount of FTM staked and the duration of the staking period.
• Process: Staking can be done directly through the fWallet or other supported platforms. Users simply need to lock their tokens in a staking contract and start earning rewards.

How to Bridge and Swap ETH to FTM

Using RocketX Exchange, you can seamlessly bridge and swap your assets across various networks, including bridging from Arbitrum , Avalanche, Binance Smart Chain, Matic (Polygon), and more. In this example, we will demonstrate how to cross-swap ETH from the Ethereum mainnet to FTM tokens on the Fantom network.

• Visit RocketX Exchange: Open your browser and navigate to RocketX Exchange.
• Select Network and Connect Your Wallet: Click on “Connect Wallet” and select your preferred source network and wallet provider (e.g., MetaMask, Trust Wallet, Coinbase Wallet). Authorize the connection to your wallet.
• Configure Your Bridge Transaction: Ensure that Ethereum is set as the “source” network and Fantom is set as the “destination” network on the RocketX platform. Enter the amount of ETH you want to Cross-Swap to the Fantom network.

• Review and Confirm: Carefully review the transaction details, including associated fees and the estimated processing time. Click on “Cross-Chain Swap” to proceed with the transaction.
• Approve and Wait for Processing: Confirm the transaction in your wallet and authorize the necessary permissions. Wait for the ETH to be transferred from the Ethereum network to the Fantom network. Once the transaction is processed, verify the successful transfer in your wallet.

   

  This guide also applies to bridging assets from other networks like Arbitrum, Avalanche, Binance Smart Chain, and Polygon to Fantom, offering a versatile solution for all your cross-chain needs.

Swapping ETH to FTM

Once your bridged assets are on the Fantom network, you can easily swap or trade them. Unlike bridging, where you move assets from one network to another, swapping on Fantom involves changing your assets within the same network. This makes the process straightforward and quick, allowing you to manage your assets directly without switching to other networks.

• Open RocketX Exchange on your browser.
• Select the Fantom network in the source chain and destination chain and the assets you want to swap from FTM (for example, USDC, DAI, etc.).
• Enter the number of tokens you wish to swap.
• Review the transaction details and click on “Swap.”
• Confirm the transaction in your wallet and wait for the swap to be processed.

By following these steps, you can efficiently swap your assets using RocketX Exchange, taking full advantage of Fantom’s high-performance and low-cost blockchain network. 

Best Wallets to Store Fantom Crypto

Storing your FTM securely is crucial. Here are the best wallets for Fantom:

• fWallet: The official wallet, offering seamless integration with the Fantom Opera network. It supports staking and access to DeFi applications.
• MetaMask: A versatile wallet that supports multiple networks.
• Trust Wallet: A mobile wallet known for its user-friendly interface and robust security features.
• Ledger Nano S/X: Hardware wallets offer the highest level of security for storing FTM and other cryptocurrencies.

Fantom Price and Future Predictions

According to data from CoinMarketCap, the current price is showing a bullish trend. Analysts predict significant growth for FTM, driven by the network’s expanding DeFi ecosystem and technological advancements.

Factors Influencing Price:

• Network Upgrades: Improvements like the Sonic upgrade can enhance performance and attract more users.
• Partnerships: Collaborations with major tech companies can boost credibility and adoption.
• Market Conditions: General trends in the crypto market will also affect FTM’s price.

Conclusion

Fantom (FTM) stands out as a promising blockchain platform, offering fast, low-cost transactions and a robust DeFi ecosystem. With its growing list of strategic partnerships, innovative technology, and lucrative staking opportunities, It is well-positioned to become a major player in decentralized finance.