Fantom (FTM) is a high-performance blockchain platform designed for decentralized applications (dApps) and DeFi solutions, focusing on scalability, speed, and low transaction fees.
Fantom is a directed acyclic graph (DAG) smart contract platform that aims to revolutionize decentralized finance (DeFi) by addressing key issues of speed and scalability inherent in previous blockchain solutions. Powered by its native token FTM, Fantom utilizes a bespoke consensus algorithm to ensure rapid transaction processing, boasting settlement times of under two seconds and transaction costs amounting to fractions of a cent. Established in 2018, the Fantom Foundation launched its mainnet, OPERA, in December 2019, positioning itself as a viable alternative to Ethereum with enhanced scalability, security, and decentralization.
At its core, Fantom leverages the Lachesis protocol, a robust consensus mechanism that underpins its high-performance network. Lachesis operates on an asynchronous Byzantine Fault Tolerant (aBFT) Proof-of-Stake (PoS) model, facilitating thousands of transactions per second while maintaining rigorous security standards. This leaderless approach ensures open participation in network validation and governance, empowering users to engage in on-chain governance through FTM token voting. Opera, Fantom's EVM-compatible chain, supports seamless integration with Ethereum smart contracts, enabling developers to leverage Fantom's efficiency without sacrificing compatibility.
Fantom's ecosystem is fortified by its efficient transaction processing capabilities and comprehensive toolset for decentralized application deployment. With its commitment to scalability and low-cost transactions, Fantom represents a compelling platform for developers and users seeking fast, secure, and cost-effective blockchain solutions in the burgeoning DeFi landscape.