Fantom

Fantom is a scalable and secure smart-contract platform. It is designed to overcome the restrictions of previous-technology blockchain structures. Fantom is permissionless, decentralized, and open-supply. Lachesis, its innovative aBFT consensus mechanism, permits Fantom to be much quicker and less expensive than older technology, yet highly secure. The beginning of Bitcoin in 2009 represented a massive step forward in generation and a further move toward an extra efficient society.

Bitcoin was not constructed to scale, and its consensus mechanism—the engine that powers the blockchain – is restricted by layout. Current solutions make trade-offs among three additives: scalability, safety, and decentralization. This is called the blockchain trilemma. Bitcoin, as an example, specializes in decentralization and security, which makes it less suited for any transaction that requires speed and fast affirmation, like payments, information transfer, asset trading, or other transactions clients and companies depend on in ordinary life. Specifically, the old financial system, from the processes that happen in the back-end to consumer-facing solutions, requires high throughput and fast finality.

Decentralizing these offerings at scale, at the same time as supplying financial institution-grade protection, represents a task for the entire blockchain industry.

Fantom managed the problem at the core – its excessive-speed consensus mechanism, Lachesis, permits virtual assets to operate at unprecedented speed and supplies improvements over the current structures. Unlike other blockchains, Fantom does not sacrifice security and decentralization in favor of scalability. The advantages added via Fantom are not just performance; its modular structure permits customization of blockchains for virtual assets, with unique characteristics tailored use-case their use-case.

Fantom also offers high levels of safety by using a leaderless proof-of-Stake protocol to secure the community. Fantom’s aBFT consensus, called Lachesis, can scale to many nodes in the world in a permissionless and open supplying decentralization. Fantom has no concept of “Masternodes” and does not use Delegated Proof of Stake.

Lachesis powers Fantom’s Opera mainnet deployment, which uses the Ethereum virtual machine (EVM), and it’s matched with Ethereum. The modularity makes Fantom extraordinarily bendy. Builders can port their current Ethereum-based dApps on Fantom Opera mainnet in a count of minutes, considering upgrading the performance and reducing the costs. Each network constructed on Fantom is independent of one another.