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Fantom (FTM)

What is Fantom?​

Fantom is a high-performance Layer 1 blockchain built for speed, scalability, and low-cost transactions. It uses a unique consensus mechanism called Lachesis, which is asynchronous, leaderless, and Byzantine Fault Tolerant (aBFT).

Here are 5 key points about Fantom:

Fast throughput: Processes thousands of transactions per second with near-instant confirmation.

Lachesis consensus: aBFT consensus achieves high security and efficiency without requiring constant synchronisation between nodes.

EVM compatible: Developers can deploy and interact with Ethereum-based smart contracts and dApps directly on Fantom.

Low fees: Transactions cost just a fraction of a cent, making it ideal for DeFi, gaming, and microtransactions.

FTM token: Used to pay for gas fees, staking, and governance participation.

Fantom on Wraith Wallet​

With Wraith Wallet, you can:

Buy Fantom (FTM) using debit/credit cards.

Store FTM and ERC20 tokens safely.

Send and receive FTM and ERC20 tokens.

Swap FTM to ERC20 tokens and vice versa.

ERC20 tokens on Fantom​

Fantom supports ERC20 tokens through its EVM compatibility.

These tokens behave the same way as ERC20 tokens on Ethereum but with much lower fees.

DeFi users benefit from fast, cost-efficient transactions when trading or providing liquidity.

How to get Fantom​

You can start using Fantom in Wraith Wallet in three ways:

Buy directly: Purchase FTM within the app using card payment.

Receive FTM: Share your unique Fantom wallet address to receive tokens.

Swap into FTM: Convert supported ERC20 tokens to FTM (requires a small amount of FTM for fees).

Transaction fees on Fantom​

Gas fees are paid in FTM.

Costs are much lower than Ethereum mainnet and stay predictable.

Fees may vary depending on network load, but they remain among the cheapest in the industry.

You can view current gas prices using the Fantom Gas Tracker.

Checking balances​

Wraith Wallet connects directly to the Fantom blockchain to show your FTM balance. For on-chain verification, select View on FTMScan in the app.

FTMScan is the default Fantom explorer in Wraith Wallet.

Summary Fantom provides a fast, secure, and low-cost blockchain platform optimised for DeFi, gaming, and everyday payments. With Wraith Wallet, you can buy, send, swap, and manage FTM and ERC20 tokens with ease - taking full advantage of Fantom’s speed and low fees.

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