Question 1

What is the nature of Fantom (FTM)?

Accepted Answer

Fantom is a fast blockchain that enables smart contracts and DeFi within a framework of low costs and quick settlement.

Question 2

What are ways to use FTM?

Accepted Answer

FTM can be used for various purposes, such as - Fees on the network, staking, participating in decisions and moving assets.

Question 3

Which platform is the best to purchase FTM?

Accepted Answer

You can find FTM on leading exchanges, including Binance, Coinbase and KuCoin.

Question 4

Can Fantom connect with Ethereum?

Accepted Answer

The technology is fully compatible with the Ethereum Virtual Machine and processes Solidity smart contracts.

Question 5

In what way is Fantom unique?

Accepted Answer

Thanks to Lachesis consensus, LF-1 is able to complete many transactions quickly and provide instant certainty, without sacrificing decentralization.

Question 6

Is it possible to stake FTM?

Accepted Answer

It is possible to stake FTM and collect on-chain rewards through the wallet app or validators from outside the protocol.

Question 7

Can the Fantom blockchain be relied on?

Accepted Answer

Yes, still, look after your privacy using hardware wallets and use DeFi protocols with care.

Question 8

Which companies are competitors with Fantom?

Accepted Answer

Of the main competition, Solana, Avalanche and Arbitrum are Layer-1 and Layer-2 contenders for Ethereum.

Question 9

How much FTM is there in circulation?

Accepted Answer

The total number of FTM tokens the network can ever have is 3.175 billion.

Question 10

Which risks do I need to think about?

Accepted Answer

Worries about smart contract vulnerabilities, updates in laws and rival businesses are main risks to monitor.