Fasttoken

Fasttoken (FTN) is the native currency of the Bahamut blockchain, an EVM-based layer 1 public blockchain solution. This blockchain solution introduces a unique consensus algorithm known as Proof of Stake and Activity (PoSA), which strives to transform how distributed networks approach block rewards among network participants. FTN was initially emitted as an ERC-20 token and serves as a utility token for the SoftConstruct ecosystem, an IT solutions provider. FTN plays a crucial role in enabling staking, block creation and validation mechanisms, and cross-chain operations within the Bahamut blockchain.

Fasttoken operates on the Bahamut blockchain, which utilizes the Proof of Stake and Activity (PoSA) consensus algorithm. In PoSA, validators, who validate transactions and blocks, stake a fixed amount of tokens to participate in the consensus process. However, a validator's ranking is determined not only by their stake but also by the activity of their smart contracts. The activity of a smart contract is calculated based on the gas used by users when interacting with the contract. This approach aims to incentivize developers to create high-quality, highly-used contracts, contributing to the overall health and security of the network. FTN serves as the gas unit for Bahamut, facilitating these operations.

Fasttoken has a wide range of potential use cases within the SoftConstruct ecosystem. It can be used to settle various business and personal arrangements between users and any of SoftConstruct’s products and services. FTN also fuels all blockchain-based and blockchain-related apps within the Fastex ecosystem as the native currency for all platforms. Furthermore, FTN serves as the staking and validation rewards currency on the Bahamut blockchain. The SoftConstruct Crypto Reward Program aims to allow all parties within the SoftConstruct network to benefit from either using or holding FTN in both daily and monthly activities.

Fasttoken was developed and curated by SoftConstruct, an IT solutions provider in various fields including web 3.0, gaming, AR, VR, finances, e-commerce, and supply chain management. It was initially emitted as an ERC-20 token and later became the native currency of the Bahamut blockchain. The Bahamut blockchain, with its unique PoSA consensus algorithm, was developed by Fastex engineers. As of now, Bahamut boasts over 4200 validators, 600,000 transactions, and 200,000 FTN holders. Fasttoken aims to continue playing a pivotal role in the SoftConstruct ecosystem, providing numerous real-world use cases from day one.