Fantom is an open source, decentralized, smart contract platform that is powered by Directed Acyclic Graph (DAG) based asynchronous Byzantine Fault Tolerant (aBFT) consensus mechanism, called Lachesis. Lachesis allows the ledger build on Fantom to be faster, securer and highly scalable. Fantom runs on Proof-of-Stake (PoS) consensus to secure its network.
FTM is native token for Fantom network. It is used in its mainnet, Ethereum network (ERC-20) and also Binance Chain (BEP-2). The FTM token is used to secure the network, as network fees, as a governance token, and soon as collateral for its DeFi project.