Community Forex Questions
What is lachesis (Fantom)?
Lachesis is a term that is often associated with Fantom, a decentralized blockchain platform. In Greek mythology, Lachesis was one of the three Fates who determined the length of human life. In the context of Fantom, Lachesis is the name given to its consensus mechanism.
Fantom is a highly scalable and secure blockchain platform designed to facilitate decentralized applications (dApps) and smart contracts. Lachesis, as the underlying consensus mechanism of Fantom, utilizes an innovative directed acyclic graph (DAG) structure called the "Lachesis DAG." This DAG-based consensus algorithm enables fast transaction processing and high throughput, making Fantom capable of handling a large number of transactions per second.
The Lachesis consensus mechanism in Fantom also incorporates a Byzantine fault tolerance (BFT) protocol to ensure the security and reliability of the network. It achieves consensus through a combination of leader selection, voting, and confirmation processes.
By utilizing Lachesis as its consensus mechanism, Fantom aims to provide a scalable and efficient blockchain platform that can support various applications, ranging from decentralized finance (DeFi) and supply chain management to decentralized governance and identity solutions.
It is important to note that the term "Lachesis" is specific to Fantom's consensus mechanism and should not be confused with other uses or meanings of the term in different contexts.
Fantom is a highly scalable and secure blockchain platform designed to facilitate decentralized applications (dApps) and smart contracts. Lachesis, as the underlying consensus mechanism of Fantom, utilizes an innovative directed acyclic graph (DAG) structure called the "Lachesis DAG." This DAG-based consensus algorithm enables fast transaction processing and high throughput, making Fantom capable of handling a large number of transactions per second.
The Lachesis consensus mechanism in Fantom also incorporates a Byzantine fault tolerance (BFT) protocol to ensure the security and reliability of the network. It achieves consensus through a combination of leader selection, voting, and confirmation processes.
By utilizing Lachesis as its consensus mechanism, Fantom aims to provide a scalable and efficient blockchain platform that can support various applications, ranging from decentralized finance (DeFi) and supply chain management to decentralized governance and identity solutions.
It is important to note that the term "Lachesis" is specific to Fantom's consensus mechanism and should not be confused with other uses or meanings of the term in different contexts.
Lachesis is a key consensus mechanism for the Fantom blockchain, designed to provide fast, secure, and scalable transactions. Unlike traditional consensus methods, Lachesis operates as an asynchronous Byzantine Fault Tolerant (aBFT) system, which means nodes don’t need to confirm transactions simultaneously, reducing waiting times and enabling near-instantaneous transaction finality. This efficiency supports Fantom’s goal of handling thousands of transactions per second with low fees, making it highly suitable for decentralized finance (DeFi) applications and large-scale blockchain ecosystems.
Lachesis also enhances security by allowing the network to reach consensus even if some nodes are compromised, adding resilience against attacks. The unique design allows Fantom to offer a high degree of scalability and decentralization without compromising on speed or security, positioning it as a strong competitor among blockchains focused on high-performance applications.
Lachesis also enhances security by allowing the network to reach consensus even if some nodes are compromised, adding resilience against attacks. The unique design allows Fantom to offer a high degree of scalability and decentralization without compromising on speed or security, positioning it as a strong competitor among blockchains focused on high-performance applications.
Jun 16, 2023 16:18