Fasttoken Constructing Perspectives for dApps

WhiteBIT
Published 14 February 2024
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Fasttoken Constructing Perspectives for dApps

Content

Fasttoken (FTN) is a native coin of the Bahamut blockchain ecosystem and has made significant strides in cryptocurrency. The Bahamut blockchain, launched in 2023, is centered around its unique Proof of Stake and Activity (PoSA) consensus mechanism, which is highly efficient. Let’s learn more facts about this innovation and perspectives for dApps!

The Innovative PoSA Mechanism

This novel mechanism blends the conventional Proof of Stake (PoS) model with an activity-focused framework. Validators are rewarded for the amount they stake and the vibrancy their smart contracts contribute to the network, with user interactions measured through gas consumption. This strategy encourages involvement and boosts the blockchain’s overall effectiveness.

Preferring Bahamut for dApps has the significant advantage of substantially lower transaction fees than its EVM-compatible counterparts. The blockchain’s preference for Solidity in crafting smart contracts syncs with the industry’s best practices, ensuring top-notch security and efficiency in contract deployment.

A Bit More About Fasttoken

FTN is the core currency of the Bahamut blockchain, an innovative, open, and EVM-compatible Layer 1 platform featuring the unique Proof of Stake and Activity (PoSA) consensus mechanism. As Bahamut’s lifeblood, FTN facilitates staking, block creation, and validation, along with enabling cross-chain transactions.

Strategic Coin Distribution

Fasttoken’s carefully crafted coin distribution strategy aims to ensure the enduring health and growth of the ecosystem. It solidifies foundational support and manages operational expenses by allocating one billion coins among the founding team, advisors, strategic partners, and marketing initiatives. To further bolster network operations, 120 million $FTN coins are dedicated to blockchain minting, underpinning the validation and rewards system.

Capital Raising Success and Market Confidence

The journey of Fasttoken in the Web3 domain has been highlighted by its effective fundraising campaigns, which have collectively raised $23.2 million. The overwhelmingly positive response to the public sale, where 10 million FTNs were quickly bought at 0.35 EUR per coin, reflects the market’s strong confidence in the potential and direction of Fasttoken.

Becoming a Validator

There’s a clear path for those looking to become validators on the Bahamut blockchain: a stake of 8192 $FTN coins is required. This criterion ensures a balance between making the network accessible and maintaining its security and operational efficiency.

Fasttoken (FTN) and the Bahamut blockchain are reshaping the future of decentralized applications with their innovative Proof of Stake and Activity (PoSA) consensus. This approach ensures fair reward distribution and significantly lowers transaction costs, making it an attractive platform for developers. The success in fundraising highlights the market’s trust in Fasttoken’s potential. With its focus on equitable access and efficiency, Fasttoken is poised to accelerate the adoption of Web3 services, making it a key player in the blockchain space.