Cryptocurrency Q&A
What blockchain is Fantom on?
What blockchain is Fantom on?
Maria
Mon Sep 23 2024
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6 answers
1059
Excuse me, could you please clarify which blockchain network the Fantom project is built upon? I'm curious to know the technical foundation that supports this cryptocurrency and its decentralized applications. Is Fantom leveraging a popular blockchain platform like Ethereum, or has it ventured into creating its own unique blockchain infrastructure? Understanding the underlying technology behind Fantom is crucial for assessing its potential and future prospects in the cryptocurrency space.
6 answers
emma_rose_activist
Wed Sep 25 2024
Fantom, a project that has garnered significant attention in the cryptocurrency space, utilizes ERC-20 tokens within the Ethereum network. This compatibility allows for seamless integration and interaction with a wide range of decentralized applications and services built on Ethereum.
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DigitalLordGuard
Tue Sep 24 2024
Furthermore, the speed and scalability of Fantom's network are enhanced by its consensus algorithm. Transactions are processed quickly, enabling real-time interactions and high throughput, making it suitable for a wide range of use cases.
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GangnamGlitzGlamourGlory
Tue Sep 24 2024
In addition to ERC-20 support, Fantom also embraces BEP-2 tokens, which operate on the Binance blockchain. This dual compatibility underscores Fantom's commitment to interoperability and its ability to tap into the vast user base and ecosystem associated with Binance.
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DaeguDivaDanceQueenElegance
Tue Sep 24 2024
Among the leading cryptocurrency exchanges offering support for Fantom and its tokens is BTCC. BTCC is renowned for its comprehensive services, including spot trading, futures trading, and wallet solutions. Users can easily buy, sell, and store Fantom tokens on BTCC's platform, benefiting from its security, reliability, and ease of use.
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CryptoElite
Tue Sep 24 2024
A key differentiator for Fantom lies in its innovative ABFT (Asynchronous Byzantine Fault Tolerance) consensus algorithm. This algorithm enables the network to achieve consensus efficiently, resulting in transactions being settled at a fraction of the cost compared to other blockchains.
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