In the world of cryptocurrency and blockchain, there are a lot of new companies coming up every day, however, not many of them can truly be described as groundbreaking, and Fantom is a different story.
The new blockchain company that aims to bring secure payments to the digital era is a new breed of a blockchain startup.
It is not only bringing secure payments to the digital era but also doing it in a way that is secure and safe for end-users.
How Does Fantom Work?
When it comes to digital payments and fantom coin price, they offer a superior alternative to traditional methods, the way that it works is by using blockchain technology and smart contracts.
It uses a method called payment channels in order to make transactions much faster than traditional methods, the company also has its own token which is used as the currency for all of this.
Fantom’s tokens are built on the ERC-20 token standard which makes them compatible with any standard Ethereum wallet, all of their tokens are audited by reputable third-party companies and are 100% safe from any kind of cyber attack or hacking attempt thanks to their state of the art security system called MAFIA.
What Makes Fantom Stand Out From the Crowd?
It is a new blockchain company that aims to bring secure payments to the digital era, it is not only bringing secure payments to the digital era but also doing it in a way that is secure and safe for end-users.
It has developed a new consensus algorithm called Proof-of-History, which has several advantages over proof-of-work and proof-of-stake, to understand these advantages, we will have to take a quick look at how these algorithms work.
Proof of Work:
Proof of work is a system that requires nodes’ computers to solve a cryptographic puzzle before they can update the blockchain, this process requires an extensive amount of computing power and electricity, which makes it costly.
Proof of Stake:
On the other hand, PoS relies on the number of coins or tokens held by each user as their chance of solving the next block in the chain, the more coins you hold, the higher your chances are of solving this puzzle successfully.
Why Is Fantom Important?
Fantom is a company that is bringing crypto into the future, they are bridging the gap between the digital and physical worlds in terms of secure payment solutions with their patented system.
With Fantom, there is no need for a third party to process transactions, which makes it more secure than other blockchain solutions.
The main goal of Fantom is to provide an easy-to-use, fast and secure system to pay online without having to worry about the security risks of being hacked.
Additionally, they plan on doing this using their own cryptocurrency called FTM tokens, these tokens will be used in their ecosystem as the primary currency and will allow users to purchase goods, services, and even data securely without any worries of fraud or theft.
Fantom is one of those companies that has a lot of potential for growth as well as many benefits for end-users, right now, they’re working on getting listed on various exchanges so you can buy their token and learn more about how they plan on building out their project.