Community Forex Questions
What is Fantom crypto?
As a layer 1 distributed ledger, Fantom enables the implementation of smart contracts on its network without any hassle. This platform uses a sophisticated DAG - Directed Acyclic Graph - to enable smooth interaction between computer nodes in a network, enabling fast and secure transactions. The smart contract platform was created to address the shortcomings of previous blockchain systems.
Using a Proof-of-Stake (PoS) model, Fantom incorporates an independent layer called the Lachesis Protocol into its Opera chain, an EVM-compatible smart contract chain. With Fantom Opera, numerous projects can utilize Fantom's core functions. Among these are quick transactions, low transaction fees, and robust security for all users.
Lachesis functions similarly to a traditional point-of-sale platform, but it is significantly faster and less expensive. Several historical periods are mixed together and voted on simultaneously. As a result of executing 4500 transactions per second, including basic transactions and smart contracts, this method facilitates high transaction volumes.
Bitcoin can take up to an hour for a transaction to process, while Ethereum can take up to ten minutes. Fantom bills itself as a trustworthy alternative to Bitcoin and Ethereum. Fantom is aiming for 300,000 transactions per second and processes transactions in 1-2 seconds.
Its long-term objective is to provide interoperability within big transaction bodies around the world by using fast DAG technology that can be incorporated on a larger scale in the real world. Additionally, it plans to build a new sustainable infrastructure that will allow real-time transactions.
https://fantom.foundation
Using a Proof-of-Stake (PoS) model, Fantom incorporates an independent layer called the Lachesis Protocol into its Opera chain, an EVM-compatible smart contract chain. With Fantom Opera, numerous projects can utilize Fantom's core functions. Among these are quick transactions, low transaction fees, and robust security for all users.
Lachesis functions similarly to a traditional point-of-sale platform, but it is significantly faster and less expensive. Several historical periods are mixed together and voted on simultaneously. As a result of executing 4500 transactions per second, including basic transactions and smart contracts, this method facilitates high transaction volumes.
Bitcoin can take up to an hour for a transaction to process, while Ethereum can take up to ten minutes. Fantom bills itself as a trustworthy alternative to Bitcoin and Ethereum. Fantom is aiming for 300,000 transactions per second and processes transactions in 1-2 seconds.
Its long-term objective is to provide interoperability within big transaction bodies around the world by using fast DAG technology that can be incorporated on a larger scale in the real world. Additionally, it plans to build a new sustainable infrastructure that will allow real-time transactions.
https://fantom.foundation
Fantom (FTM) is a high-performance blockchain platform designed for decentralized applications (dApps) and smart contracts. It uses a unique consensus mechanism called Lachesis, which enables fast transaction speeds, low fees, and high scalability. Unlike traditional blockchains, Fantom operates as a Directed Acyclic Graph (DAG), allowing transactions to be confirmed in under a second.
Fantom is compatible with Ethereum’s Virtual Machine (EVM), making it easy for developers to migrate dApps from Ethereum. Its ecosystem supports DeFi applications, NFTs, and enterprise solutions. The native token, FTM, is used for staking, governance, and transaction fees.
With its speed, security, and low costs, Fantom is a strong competitor to Ethereum and other smart contract platforms, attracting developers and investors alike.
Fantom is compatible with Ethereum’s Virtual Machine (EVM), making it easy for developers to migrate dApps from Ethereum. Its ecosystem supports DeFi applications, NFTs, and enterprise solutions. The native token, FTM, is used for staking, governance, and transaction fees.
With its speed, security, and low costs, Fantom is a strong competitor to Ethereum and other smart contract platforms, attracting developers and investors alike.
Jul 14, 2022 21:16