Fantom (FTM)

 

Ahn Byung Ik created the cryptocurrency Fantom (FTM) in 2018. It is a smart contract platform built on Directed Acyclic Graphs (DAG) with the goal of becoming the future IT infrastructure backbone for smart cities. Based on the Lachesis Protocol, the Fantom DAG platform is further enhanced by adding the Fantom OPERA Chain, a permissionless network, allowing dynamic participation.

In contrast to blockchain, Fantom is a distributed ledger technology stack built on a DAG that attempts to address the scalability problems that modern distributed ledgers face. To safely and securely execute smart contracts, the project combines innovative scaling techniques with a high-performance virtual machine. 

"The Nervous System for Smart Cities" is Fantom's slogan. Keeping this in mind, Fantom wants to be a leader in innovation and IT infrastructure supply for the following industries: smart homes, public utilities, healthcare, education, resource management, transportation, and environmental sustainability. With the development of an open environment that enables inexpensive data exchange and real-time transactions, the Fantom DAG platform hopes to revolutionize these industries. Fantom also plans to use fast DAG technology that can be widely implemented in the real world to make all transaction bodies globally compatible with one another.

There is a total supply of 1,987,133,655 FTM, a maximum supply of 3,175,000,000 FTM, and a circulating supply of 1,813,658,595 FTM of the Fantom (FTM) token. With an initial 5% yearly inflation rate, the Fantom platform has embraced an inflationary approach to grow the ecosystem. It is stated that as more people join the network, the rate will drop, and 20% of the overall inflation will go toward providing incentives and prizes to Fantom platform users. Regarding the allocation of tokens, the Fantom team and founders own 15% of the total, 30% are set aside for market development, 40% were sold during the initial coin offering (ICO), and 15% were given to advisers and contributors.