Fasttoken (FTN)
FTN is the native coin of Bahamut, a public, layer 1 blockchain solution that leverages the Ethereum Virtual Machine (EVM) for its operations. It introduces an innovative consensus mechanism known as Proof of Stake and Activity (PoSA). This unique combination aims to enhance the efficiency and monetization opportunities within the decentralized web3 space.
History of FTN
FTN initially existed as an ERC20 token within the SoftConstruct and Fastex ecosystems. Its transition to becoming Bahamut's native coin began with the launch of the Bahamut mainnet on May 3, 2023. This marked the start of a migration process from the Ethereum network to Bahamut, reflecting a significant evolution in its functionality and scope.
| Ticker | FTN |
| Category | Smart Contract Platform |
| Website | https://bahamut.io/ |
| @fasttoken_com | |
| Telegram | fasttoken_eng |
| https://www.reddit.com/r/Fasttoken | |
| Contract Addresses | |
|---|---|
| ethereum | 0xae...64 Copied! |
The Bahamut blockchain and PoSA consensus
Bahamut operates as a layer 1 blockchain, utilizing the EVM to support smart contracts and decentralized applications (dApps). Its standout feature is the Proof of Stake and Activity (PoSA) consensus mechanism. This approach not only relies on the traditional staking of coins but also incorporates the activity levels of smart contracts. Validators are selected based on both their stake and the amount of gas consumed by the smart contracts they deploy. This dual-focus incentivizes active network participation and provides new monetization avenues for businesses.
Unique aspects of the Bahamut project
The PoSA consensus mechanism sets Bahamut apart by offering a novel way for businesses to monetize their user engagement while ensuring the integrity and transparency inherent in blockchain technology. This innovation aligns with the broader goals of the web3 movement, promoting decentralization and user empowerment.