MetaMask is a universal cryptographic wallet, as it supports a large array of blockchains and tokens. It works flawlessly with the scalable and Lachesis-based blockchain, Fantom. This article describes the process of adding Fantom to your MetaMask.
What is Fantom?
Fantom is a trusted decentralized system that holds up Decentralized applications and meaningful content that have digital value. It is created to perform better than the biggest Crypto network, Ethereum. The network operates as an acyclic and scalable program that hosts smart contracts, decentralized apps, and digital holdings. As a layer one blockchain, it operates independently and congruently with Ethereum’s virtual machine. Fantom’s cryptocurrency is named after itself and has its symbol FTM. Presently, Fantom hosts OpenOcean, SoulSwap, HyperJump, cBridge, Tarot, Beefy, ZooCoin, and wallets like MetaMask and Trust Wallet, among many others.
The Fantom ecosystem was launched in late 2019 when Crypto networks were faced with scalability and speed issues. While it solved these problems, it also offered reduced gas costs for activities within its ecosystem.
The Fantom system is bound by aBFT and PoS consensus mechanisms, and they keep the network operating and highly functional. The aBFT mechanism keeps the system highly secured and at its utmost speed.
The Lachesis-based network functions as a host platform for several networks. Hence, its members can develop and implement networks by themselves without entirely depending on its primary consensus layer. These networks have decentralized applications that reside on them.
The above statement implies that all applications residing within Fantom’s ecosystem are backed by individual networks that live on Fantom’s blockchain. In essence, you can call Fantom a parent network to networks.
It is vital to note that the developers of these networks can create them for varying purposes because they are modular. These semi-independent networks and decentralized apps have unbreached access to Fantom’s speed, protection, and consensus.
How Fantom Works
Fantom works differently from other existing ecosystems because it uses hashgraph technology. The hashgraph technology allows the network to display its transaction records as hashgraphs. Hence, it can handle transactions at extremely high speeds (up to a million per second), and reduced fees. It is a significant advantage over Ethereum.
As earlier stated, Fantom works by the Lachesis mechanism, a variant of the PoS structure. This mechanism poses leaderlessness in the ecosystem, meaning that powerful validators do not influence agreements.
Hence, nodes on Fantom’s chain can verify trades asynchronously (independently) within a short time. A benefit of this operational structure is that the ecosystem can perform efficiently, irrespective of any errors.
Fantom can integrate applications from Ethereum’s system to itself because of its EVM compatibility. Thus, its native coin, FTM, has a BEP-20 and an ERC-20 version.
Linking Fantom Network With Your MetaMask
Please note that before you link the blockchain and the wallet, you must have a MetaMask account. It exists as a web browser plugin and a mobile application.
Once you get your MetaMask account, log in and tap the network menu. Click on “Add Network” and fill in the following:
- Network Name: Fantom
- New RPC URL: input either of these addresses:
- Address 1: https://rpc2.fantom.network/
- Address 2: https://rpc.fantom.network/
- Chain ID: 250
- Symbol: FTM
- Block Explorer URL: https://ftmscan.com/
Once done, you will receive a prompt indicating that the linking was successful.
Adding Fantom-based Tokens To MetaMask
The first step to adding Fantom-powered tokens to MetaMask is going to Fantom’s blockchain explorer to find its contract details and other necessary data. If you don’t see the token on the blockchain explorer, check for its contract address on its social platforms or website. Once done, tap on the “Import tokens” function in your MetaMask and paste the coin’s contract address. You may not have to bother about filling in other details because MetaMask does it most often. However, if it doesn’t, you should input the details.
Next, you tap the “Add Custom Token” and “Import Token” icons to complete the process. Once done, you will see the token on your board with how much you have of it.
Frequently Asked Questions
Is Fantom An ERC20?
Fantom is the native token of the Fantom blockchain. It has an ERC20 version that operates on Ethereum’s blockchain. However, this version cannot run on Fantom’s mainnet (Opera).
What Network Does Fantom Use?
Can I Use Fantom With MetaMask?
Yes, you can use Fantom with MetaMask. The wallet is universal, and it supports Ethereum-related networks.
Can I Bridge Fantom From Binance Exchange To MetaMask?
You can do this by following these steps:
- Link Fantom with your MetaMask and copy the address.
- Open your Binance app, click on FTM, and input the address from MetaMask
- Input how much you want to transfer and verify your transaction.
How Is Fantom Different From Ethereum?
Fantom operates on Opera while Ethereum uses the Mainnet Ethereum. Also, Ethereum’s currency is Ether (ETH) while Fantom’s is Fantom (FTM). In essence, Fantom is a more advantaged alternative to Ethereum.
Does Fantom Operate With Solidity?
Fantom does not directly use Solidity, but it supports Crypto contracts that are supported by solidity. Fantom can hold them because it agrees with the EVM’s protocol.
Can Fantom And Ethereum Share The Same Address On MetaMask?
Yes, both networks can share the same address on MetaMask.
Will Fantom Be On Coinbase?
Fantom does not run on Coinbase, and there are no justifiable talks about its future adoption.
How Do You Bridge Fantom From ETH?
Open your MetaMask wallet, switch it to Ethereum’s network, and choose Fantom as the token you want to bridge. Enter the number of tokens you want to bridge and confirm your transaction. Once it is successful, it will reflect in your balance for both tokens.
Does Fantom Operate With Solidity?
Fantom does not directly use Solidity, but it supports crypto contracts that are supported by solidity. Fantom can hold them because it uses the EVM.
Fantom is called a network for the future as it possesses great potential and solutions. You can bind it to your MetaMask wallet by inputting its network details correctly. Once connected, it is efficient for receiving non-fungible tokens, connecting with Web3 apps, and storing cryptocurrencies. The network works with the EVM, making it agreeable with Ethereum-residing contracts and tokens.