Fasttoken (FTN)
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About FTN
Bahamut is an innovative Layer 1 EVM-based blockchain that operates on a Proof of Stake and Activity (PoSA) consensus mechanism. This unique approach ensures fair rewards for participants and robust security through random validator selection. With an impressive network of over 4,456 validators and more than $100 million in total value locked (TVL), Bahamut is strategically positioned to support a diverse ecosystem of decentralized applications (DApps), including decentralized exchanges (DEXs) like Kujata and Silkswap. These platforms enable seamless token swaps, catering to gamers, NFT traders, and DeFi enthusiasts alike. The distinct PoSA consensus not only increases security but also introduces novel monetization opportunities for enterprises, enhancing transparency and integrity within the Web3 space. FTN, the native token of Bahamut, originally emerged as an ERC20 token before transitioning to support the blockchain's mainnet launched on May 3, 2023. It plays a crucial role within the ecosystem, functioning as a payment solution across various platforms and gaming environments. As the Bahamut infrastructure continues to expand, users can anticipate the introduction of essential services such as bridges, additional DEXs, and a grant program aimed at empowering developers to contribute to a decentralized future. The upcoming Caucasus Layer 2 network promises to significantly elevate transaction speeds and scalability. With a commitment to constant growth and innovation, Bahamut stands out as a leading solution in the blockchain landscape.
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Frequently Asked Questions about Fasttoken
What is Fasttoken?
Fasttoken (FTN) is the native cryptocurrency of the Bahamut blockchain, serving as a utility token within the Fastex ecosystem for various applications, including gaming and e-commerce.
What is the Bahamut blockchain?
Bahamut is a layer-1, public, EVM-based blockchain solution featuring a novel Proof of Stake and Activity (PoSA) consensus mechanism, designed to enhance scalability and security.
How does the Proof of Stake and Activity (PoSA) consensus mechanism work?
PoSA introduces an 'activity' parameter into the validation process, measured by the amount of gas used by a validator's smart contract. This incentivizes developers to create widely used smart contracts, as higher activity increases the chances of becoming a block producer and earning rewards.
What is the Fastex ecosystem?
The Fastex ecosystem encompasses a suite of Web3 solutions, including the Fastex cryptocurrency exchange platform, the Bahamut blockchain, the Fastex Pay cryptocurrency payment system, the ftNFT marketplace, and decentralized applications tailored for partners.
Where can I buy Fasttoken (FTN)?
Fasttoken (FTN) can be purchased on various cryptocurrency exchanges, such as the native Fastex exchange, Gate.io, Bitget, XT.com, and WhiteBIT.
Where can I store Fasttoken (FTN)?
Fasttoken (FTN) can be stored in wallets compatible with the Bahamut blockchain, such as the official Fastex Wallet. Additionally, the ERC-20 token version can be stored in any Ethereum-compatible wallet such as Bitcoin.com Wallet or MetaMask.