Fantom

Fantom is a fast, secure, and scalable smart-contract platform that leverages Directed Acyclic Graph (DAG) technology to achieve high performance. The platform is tailored for developers and businesses that require a fast and efficient blockchain solution for decentralized applications (DApps) and digital assets. Fantom’s unique consensus mechanism, Lachesis, provides near-instant transaction finality, making it an ideal choice for applications requiring low latency and high throughput.

About Fantom

Founded in 2018 and launched in December 2019, Fantom was developed to solve the scalability and speed issues faced by earlier blockchain networks like Ethereum. Fantom's DAG-based architecture allows it to process thousands of transactions per second at low cost. This efficiency makes it particularly suitable for applications in DeFi, NFTs, and other sectors where speed and cost are critical. Fantom’s native token, FTM, serves multiple functions within the ecosystem, including transaction fees, staking, and network governance.

Fantom’s compatibility with the Ethereum Virtual Machine (EVM) allows developers to easily migrate or deploy Ethereum-based DApps on Fantom with minimal changes. This compatibility, combined with Fantom's focus on scalability, has made it a popular choice for DeFi projects and other applications that benefit from reduced fees and higher throughput.

Main Features

• Asynchronous Byzantine Fault Tolerance (aBFT) Consensus with Lachesis: Fantom’s unique Lachesis consensus mechanism is an asynchronous Byzantine Fault Tolerance (aBFT) protocol. Unlike traditional blockchains, which require all nodes to validate each transaction, Lachesis allows nodes to process transactions independently, leading to faster transaction speeds and higher scalability.
• High Scalability and Speed: Fantom’s DAG-based architecture allows it to process transactions in parallel, achieving speeds of thousands of transactions per second. This high throughput is ideal for decentralized applications and financial platforms, enabling seamless and efficient user interactions.
• Ethereum Compatibility (EVM Support): Fantom is fully compatible with the Ethereum Virtual Machine, allowing developers to deploy smart contracts and applications designed for Ethereum directly on Fantom. This compatibility has attracted a large number of DeFi projects and other Ethereum-based applications, further enriching Fantom's ecosystem.
• Low Transaction Fees: Due to its efficient consensus and DAG structure, Fantom’s transaction fees are significantly lower than those on traditional blockchains. This cost-effectiveness is particularly beneficial for DeFi and NFT applications, which often require numerous transactions, making them accessible to a wider range of users.
• Staking and Governance: FTM token holders can stake their tokens to help secure the network and participate in governance. Staking rewards are offered to incentivize network security, and token holders have voting power in network-related decisions, contributing to Fantom’s decentralized governance model.

Community and Development

Fantom has a dedicated and growing community of developers, users, and businesses. The Fantom Foundation actively supports ecosystem development through partnerships, grants, and technical resources, helping developers build and launch their applications on the network. The platform’s vibrant ecosystem includes a wide range of DeFi protocols, NFT projects, and enterprise applications.

Some prominent projects on Fantom include SpookySwap (a decentralized exchange), Scream (a lending protocol), and various NFT marketplaces. With a focus on high performance, low costs, and developer support, Fantom is positioned as a leading blockchain for the next generation of decentralized applications, providing solutions that go beyond the limitations of traditional blockchains.