Forta (FORT) is a native cryptocurrency token for the Forta Network, a decentralized real-time detection network for monitoring blockchain activity. It provides an incentive structure to secure the network, allowing developers to create and run detection bots and node runners to stake tokens for economic security. FORT holders can participate in governance and use the token for various network functions, including payment of data fees. The token has a total supply of 1 billion and operates on the Ethereum network.
Forta (FORT) is a cryptocurrency used primarily in the Forta Network, a decentralized security system that detects exploits and threats against blockchain applications and end users. The FORT token has several key uses:
Scanner Pool Staking: Scanner pool owners must stake FORT tokens to be discoverable in the network and to provide economic security for their work. This stake can be slashed if nodes fail to execute their assigned work or perform maliciously.
Detection Bot Staking: Developers must stake FORT tokens on bots, signaling bot quality to the network and providing a sybil resistance mechanism.
Payment of Data Fees: Users who want to buy Forta’s General Plan to consume data from the network must pay a monthly fee denominated and paid in FORT. Premium feeds can be denominated and paid in either FORT or USDC.
- Governance: FORT holders can participate in governance to shape the evolution of Forta.
These uses ensure the accuracy and integrity of the data provided by the network and provide economic security mechanisms to prevent malicious actions.
To store Forta (FORT) tokens, you can use a digital wallet like MyEtherWallet (MEW). You can send your FORT tokens by clicking the 'Send' button and entering the recipient's wallet address. Additionally, you can swap your FORT tokens within the wallet.
To buy Forta (FORT) tokens, you can follow these steps:
Create an Account: Register on a cryptocurrency exchange that supports Forta, such as Gate.io, KuCoin, Coinbase, Bitrue, or Bitget.
Fund Your Account: Deposit funds into your account using various payment methods, including credit cards, debit cards, bank transfers, or cryptocurrencies like USDT.
Navigate to the Forta Market: Find the Forta (FORT) market on the exchange and select it to view the current price and available trading pairs.
Place an Order: Choose your preferred order type, such as a market order or limit order, and specify the amount of Forta you want to buy. Confirm your purchase once you are satisfied with the details.
Monitor and Manage: After the order is executed, you can view your Forta tokens in your account. You can then manage your holdings, including selling or transferring them as needed.
Remember to follow the specific guidelines and fees associated with each exchange to ensure a smooth transaction.
