FANTOM Foundation
Financials
Estimates*
USD | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Revenues | 2.9m | 3.2m | 4.2m | 7.9m | 9.4m |
% growth | - | 10 % | 31 % | 88 % | 19 % |
Recent News about FANTOM Foundation
EditFantom is a blockchain platform designed to provide fast, scalable, and secure smart contract solutions. It operates in the decentralized finance (DeFi) market, targeting developers and businesses looking to build decentralized applications (dApps) that rival the speed and efficiency of traditional Web2 applications. Fantom's unique aBFT (asynchronous Byzantine Fault Tolerance) consensus mechanism, known as Lachesis, allows it to process thousands of transactions per second with finality achieved in seconds, making it faster and cheaper than many existing blockchain technologies.
Fantom's business model revolves around earning gas fees from transactions conducted on its platform. Developers can also earn 15% of the gas fees generated by their dApps as passive income. Additionally, users can earn rewards by locking their FTM tokens to help secure the network.
Fantom serves a wide range of clients, including developers, businesses, and individual users interested in leveraging blockchain technology for various applications, from finance to gaming. The platform's open-source and permissionless nature ensures that anyone can access and build on it without restrictions.
Key features include low transaction costs (less than $0.01 on average), rapid transaction finality (within a second), and the ability to scale to hundreds of nodes. Fantom also supports interoperability with other blockchain networks through bridges like Wormhole, LayerZero, and Squid, although users are advised to employ these bridges at their own risk.
Keywords: blockchain, smart contracts, DeFi, aBFT, Lachesis, scalability, low-cost transactions, dApps, interoperability, passive income.