Fasttoken

Fasttoken (FTN)

Fasttoken (FTN) is the native cryptocurrency of the Bahamut blockchain, a cutting-edge, public, layer 1 blockchain solution built on the Ethereum ecosystem. Bahamut utilizes a novel consensus mechanism known as Proof of Stake and Activity (PoSA), which innovatively combines traditional staking with user activity to enhance network security and efficiency.

What is Bahamut?

Bahamut is designed to support a robust ecosystem of decentralized applications (dApps) while providing businesses with unique opportunities to monetize their user base. The PoSA consensus mechanism not only ensures fair rewards for validators but also promotes the integrity and transparency of the Web3 environment.

Unique Features

The key feature that sets Bahamut apart is its PoSA consensus, which rewards validators based on the gas spent by users engaging with deployed smart contracts. This means that the more active a smart contract is, the higher the chances for its validator to produce blocks in future epochs. This innovative approach encourages active participation and ensures that the network's resources are utilized efficiently.

Project History

Initially launched as an ERC20 token within the SoftConstruct and Fastex ecosystems, FTN transitioned to become the native coin of Bahamut following its mainnet launch on May 3, 2023. Currently, the migration from Ethereum to Bahamut is in progress, paving the way for FTN to play a central role in the Bahamut ecosystem.

Future Development

The Bahamut infrastructure is expanding rapidly, with plans for decentralized exchanges, various applications, bridge services, and other crucial components set to launch by the end of the year. Additionally, the Bahamut grant program is underway, aiming to empower developers and innovators to contribute to a decentralized future.

Use Cases for FTN

FTN is utilized as a versatile gaming token across multiple platforms while also serving as the native currency for the Bahamut network. Its integration with over 10 payment providers facilitates seamless transactions, enhancing its utility within both gaming and e-commerce sectors.

Conclusion

As the Bahamut ecosystem continues to grow, Fasttoken (FTN) is poised to play a vital role in transforming the way businesses and users interact within the blockchain space, leveraging its innovative consensus mechanism to foster a secure and engaging environment.