Cryptocurrency Q&A
Is FTM a layer 1 coin?
Is FTM a layer 1 coin?
CryptoProphet
Thu May 23 2024
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7 answers
1599
Could you please clarify for me if FTM qualifies as a layer 1 coin? I'm trying to understand its position in the cryptocurrency hierarchy, and it seems that this classification is quite important. Layer 1 coins typically refer to those that operate on their own independent blockchain, so I'm wondering if FTM meets this criterion. Could you elaborate on this point and perhaps provide some additional context or features that make FTM unique or similar to other layer 1 coins? Thank you for your assistance in clarifying this matter.
7 answers
Valentino
Sat May 25 2024
Fantom, a Layer 1 project launched in 2018, revolutionizes blockchain technology. Its unique architecture employs a single consensus layer to facilitate the formation of numerous execution chains, enabling efficient and scalable transactions.
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Silvia
Sat May 25 2024
This innovative design allows Fantom to cater to various applications, from payments to governance, seamlessly. The platform's versatility ensures it remains adaptable to changing market needs.
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Nicola
Sat May 25 2024
FTM, the native token of Fantom, plays a crucial role in the ecosystem. It serves as a medium for payments, governance decisions, and block rewards distributed to validators and delegators who contribute to the network's security.
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emma_rose_activist
Sat May 25 2024
Validators and delegators are integral to Fantom's staking mechanism. By staking FTM, they participate in the network's consensus process, validating transactions and ensuring the integrity of the blockchain.
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GliderPulse
Fri May 24 2024
BTCC, a renowned cryptocurrency exchange headquartered in the UK, offers a comprehensive suite of services. These include spot trading, futures trading, and a secure wallet solution, catering to the diverse needs of crypto enthusiasts.
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