Torum (XTM) is a decentralized, Web3-driven social media and finance platform that connects cryptocurrency users around the world. It provides an ecosystem of services to help its users communicate, trade, and manage their digital assets in a secure and efficient manner.
The platform aims to capture the interest of worldwide cryptocurrency communities, serving as a hub for discussing the latest events, technical developments, and other related topics happening in the crypto industry. They aim to leverage high-end technologies in bringing this to a realization.
Apart from its core functionalities, Torum has launched several other features. The News section lets users keep track of their favorite crypto projects’ latest PR and media news. It also has its own marketplace for users to purchase goods from various merchants, as well as a comprehensive suite of tools that let them incubate new projects.
The platform is powered by XTM, an ERC20 token designed to facilitate interactions within the Torum ecosystem. Through its use, users can access various services the platform provides and earn rewards for their participation.
Who Are The Founders Of Torum (XTM)?
The team includes individuals with expertise in software development, community management, Blockchain development, DevOps, and other areas. Yi Feng Go, the founder and CEO as well as a front-end developer, Jayson Tan, Co-founder, CMO, community manager, Alwin Chang, Teddy Tan, Nelthan NG, and Pardeep Sharma are among the names.
What is Torum (XTM) used For?
Torum Social Media
Existing social media blockchain platforms tend to follow in the footsteps of Steemit, the first decentralized blogging platform, emphasizing free expression and data privacy while overlooking features like real-time messaging and custom emote integration. As a result, most platforms have failed to create and attract true crypto-oriented communities, defeating the purpose of building a social media application about blockchain and cryptocurrency. Hence, the reason for Torum. Torum intends to position itself as the first social media platform that advocates for a crypto-focused platform centered on the community.
Torum Marketplace
Powered by XTM, the Torum NFT marketplace is a spot for users to showcase their artwork and creative works which can be bought and sold in the form of non-fungible tokens (NFTs). NFTs provide unique value for digital assets such as art, music, videos, trading cards, games, and more. The marketplace is integrated with the social media platform to accommodate NFT-based communities.
Torum News
The news section on Torum is designed for users to catch up with the latest PR and media news of their favorite crypto projects. The news section utilizes web crawlers to automatically generate news with specific keywords that appear on major news and media platforms, forming a collaborative solution between Torum, media sites, projects, and users.
Torum NFT Launchpad
A way to kickstart new projects, providing support for their crowdfunding and initial monetary needs. It’s all done on the launchpad feature on Torum Finance, the native DeFi platform of the Torum ecosystem.
How is Torum (XTM) Unique?
Torum is a leading multi-chain social media project with over 238,000 users and has the backing of prestigious investors such as AU21, DFG, Consensus Lab, Basics Capital, and M6. It boasts two cryptocurrency exchanges to back it up: Kucoin Labs and Huobi Ventures.
The platform also offers its users a unique Web3 Portfolio that allows them to connect and view their Web3 portfolio from anywhere in the world. It has a Web3 Dashboard where users can view all of their NFTs and POAPs in one place.
Torum’s mission is to bridge cryptocurrency communities worldwide, and its unique features make it stand out in the market as a powerful platform to do just that. With its suite of tools and services, Torum is poised to become the go-to platform for users looking for a comprehensive all-in-one cryptocurrency experience.
Finally, Torum is serious when it comes to data privacy and security; therefore, they have taken extra steps to ensure data safety through their various partnerships with leading blockchain projects.
How many Torum (XTM) coins are in circulation?
Torum currently has a circulating supply of 226,982,841 XTM out of a total supply of 779,190,905 XTM tokens. It is currently capped at a market value of about $4.5 million USD.
How is the Torum Network secured?
The Torum Network is secured by a custom-built Proof of Stake (PoS) consensus mechanism. It is designed to enable secure and efficient transactions while also maintaining decentralization. A dynamic validator set, which consists of elected validators selected through XTM staking, is responsible for verifying and confirming the transactions on the network.
How do I buy Torum (XTM)?
The XTM token can be used for a wide range of purposes, like staking, transfers, and governance.
It can be easily purchased by following the steps below:
- ol]:!pt-0 [&>ol]:!pb-0 [&>ul]:!pt-0 [&>ul]:!pb-0″ value=”1″>Open an account with the crypto trading platform.
- ol]:!pt-0 [&>ol]:!pb-0 [&>ul]:!pt-0 [&>ul]:!pb-0″ value=”2″>Transfer the specific amount of your fiat currency to your account.
- ol]:!pt-0 [&>ol]:!pb-0 [&>ul]:!pt-0 [&>ul]:!pb-0″ value=”3″>Wait for your deposit to be confirmed and buy XTM through your trading account by swapping with BTC, ETH, or USDT pairs.
Which Cryptocurrency Wallet Supports Torum (XTM)?
The PTPWallet platform supports many cryptocurrencies, with XTM soon to be included. Because of its vast use case, PTPWallet has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. The platform offers a simple user interface, is supported by both Android and iOS devices, and comes with its own mobile wallet app.
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