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Fantom Features and Reviews
Fantom is a smart contract platform that uses directed acyclic graph (DAG) to solve the scalability problem of public distributed ledger technologies.
Fantom is a high performing, scalable and secure smart contract platform. Fantom overcomes the limitations of previous generations of blockchain platforms. It requires no license, is decentralized, and is open-source.
Fantom developed Lachesis, its revolutionary aBFT consensus mechanism. It allows Fantom to be much faster and cheaper than legacy technologies while being extremely secure at the same time. Its features include asynchronicity: participants are free to process commands at different times, no leader: no participant plays a "special role", Byzantine Fault Tolerance: works in the presence of up to a third of faulty and malicious nodes, and finally; Lachesis -Output can be directly used. It only takes 1 or 2 seconds to complete a transaction.
Fantom strikes a balance between three components, scalability, security, and decentralization.
The high-speed consensus mechanism, Lachesis, allows digital assets to run at an unprecedented speed and offers dramatic improvements to current systems. Unlike other solutions, Fantom doesn't sacrifice security and decentralization for scalability. The benefits of Fantom are not just pure performance; The modular architecture allows complete customization of the blockchain for digital assets with different properties tailored to their use case.
Fantom also offers a very high level of security by using a lead-free Proof-of-Stake protocol to protect the network.
Fantom is modular, scalable, secure, eco-friendly, and open source with open participation. Modularity makes Fantom very flexible. Developers can migrate existing Ethereum-based dApps to Opera's Fantom core network in minutes, significantly increasing productivity and reducing costs.
Fantom has designed each of its networks to be independent of each other. Your performance and stability will not be affected by traffic or congestion. Fantom solves the scalability problem by giving each application its blockchain, just as each application runs on a different computer part of the same network.
Fantom develops Lachesis, an innovative consensus for aBFT. In addition, we create a blockchain ecosystem across all blockchain technologies. We are building the infrastructure for a more connected and efficient future, where people can use advances in technology to improve their quality of life. With this, Fantom's network is increasing. Below are proof of its rapid growth;
Ten thousand five hundred seventy-six intelligent contracts get implemented in the network.
There are three hundred thousand transactions per day, up from around 3,000 on January 1, 2021.
More than 145,000 unique addresses, compared to 5,000 on January 1, 2021.
62% of the total circulating FTM supply is at stake.
Fantom offers the first decentralized finance (DeFi) stack of its kind built on the aBFT consensus. Thanks to its meager cost, combined with high bandwidth and EVM compatibility, Fantom Opera hosts a dynamic and growing ecosystem of decentralized finance protocols. There are two branches of DeFi fantom. On the one hand, we have three prominent use cases developed and maintained by the Fantom protocol itself.
FMint allows you to mine fUSD (linked to the USD stablecoin) with your FTM. There's also fSwap where you can trade more than 176 synthetic assets such as fBTC and fETH, and fLend to borrow your FTM or fUSD in a liquidity pool to earn interest or use fUSD as collateral to borrow synthetic assets for fswap trading.
Fantom uses a proof of stake consensus mechanism and not proof of work. Proof of stake reduces the project's carbon footprint. Proof-of-Stake secures Fantom. Unlike Proof-of-Work used by Bitcoin and Ethereum, Proof-of-Stake prevents centralization and saves power.
Fantom's Lachesis provides security at the institutional level of distributed networks. Fantom offers absolute finality, meaning transactions can never be reversed, as in networks with probabilistic finality. The consensus mechanism can also be scaled to hundreds of nodes, increasing decentralization and security.
Fantom's blockchain platform has smart contract capabilities. Fantom is a blockchain platform with the capacity to run smart contracts. These programs allow the blockchain to perform more complex transactions than just sending cryptocurrency from one person to another. Currently, there are several prevalent uses for smart contracts:
They play an essential role in decentralized finance (DeFi), which does not require a central government. Smart contracts allow developers to create decentralized applications (dApps) that support the DeFi platform.
They are used to establish non-fungible token (NFT) ownership. It is a digital collection that can trade, buy, and sell.
Fantom is available on several major cryptocurrency exchanges. Many types of cryptocurrencies, especially smaller ones, are difficult to obtain. Fortunately, this is not the case with Fantom. You can buy them on some of the biggest cryptocurrency exchanges, including Gemini, Crypto.com, FTX, and Binance (international platforms only, not Binance.US). Fantom is available on many decentralized cryptocurrency exchanges. This type of exchange offers peer-to-peer crypto trading without intermediaries, making transactions easier. Decentralized exchanges offered by Fantom include Uniswap and Sushiswap.
Fantom token, also known as FTM, is the local currency of the Fantom network and enables their staking system to function. Fantom can also use FTM to manage network fees and send or receive payments within its ecosystem. Fantom and its FTM token are proud to have three main components running it. The Speed and cost of transactions, the security provided by the validation node, and the scalability of its network.
Fantom allows you to win SpookySwap BOO tokens by increasing returns and enjoying lightning-fast low-cost swaps with limited order support. SpookySwap is an automated decentralized market creation (AMM) exchange for Opera's Fantom network. You can trade between tokens on the Fantom network at the lowest fees, collect swap fees by contributing to the liquidity pool used for swaps, or collect proof of your liquidity to start earning BOO.
Unlike other DEXs, SpookySwap invests in building a solid foundation with our BOO tokens, such as management tokens, various farms, grants to promote the healthy ecosystem of other Fantom projects, and customer-centric services.
Fantom provides enterprise blockchain services focused on innovative consensus solutions as a service. With Fantom, you can build your public or private distributed registry on a highly scalable platform with fast turnaround times. Blockchain enables companies and institutions to optimize current processes, solve business problems, and create new opportunities. Fantom provides a scalable and secure blockchain solution for public and private networks.
Fantom deals are cheap and almost instantaneous. One of the main advantages of Fantom is the efficient processing of transactions within a second or two. Transaction fees are usually a part of cents. Reports in May show that Fantom had completed 3 million transactions and was the fastest blockchain platform.
Fantom is a high performing, scalable and secure smart contract platform. Fantom developed Lachesis, its revolutionary aBFT consensus mechanism. Fantom's solution comprises three components: scalability, security, and decentralization. Fantom also offers a very high level of protection by using a lead-free Proof-of-Stake protocol to protect the network. Fantom has designed each of its networks to be independent of each other. Fantom operates with Lachesis, an innovative consensus for aBFT.