What is Fantom?
Fantom is a high-performance, scalable smart contract platform designed to support DeFi, enterprise applications, and real-time transactions. Launched in 2018, Fantom utilizes its Directed Acyclic Graph (DAG)-based consensus mechanism to enable fast, secure, and low-cost blockchain operations.
Fantom's native token, FTM, is used for staking, governance, transaction fees, and network security within the Fantom ecosystem.
How is Fantom useful?
Fantom provides a high-speed and cost-efficient alternative to traditional blockchain networks, enabling rapid transaction processing with near-zero fees. Fantom supports a thriving DeFi ecosystem, offering smart contracts, decentralized applications (DApps), and cross-chain interoperability.
Developers benefit from Fantom's Ethereum Virtual Machine (EVM) compatibility, while users can stake FTM for rewards, participate in governance, and use Fantom-based DeFi services.
How does Fantom work?
Fantom operates through Lachesis, a DAG-based asynchronous Byzantine Fault Tolerant (aBFT) consensus protocol, which allows transactions to be confirmed in seconds rather than minutes. Unlike traditional blockchains, Fantom's leaderless system ensures scalability and decentralization while maintaining security.
Fantom's Opera Chain enables smart contract execution, supporting DeFi applications, NFT marketplaces, and enterprise-grade solutions. The FTM token secures the network through staking and is used for governance participation and transaction processing.
Fantom milestones
Launch of Lachesis Consensus: Introduced a highly scalable, fast, and secure blockchain infrastructure.
Mainnet Deployment: Enabled smart contracts, DeFi applications, and high-speed transactions.
EVM Compatibility: Allowed Ethereum-based DApps to migrate seamlessly to Fantom.
Growth of the DeFi Ecosystem: Integrated lending protocols, DEXs, and cross-chain bridges.
Expansion into Enterprise and Government Sectors: Explored real-world use cases for blockchain-based solutions.
Fantom continues to push blockchain innovation forward, offering a scalable, efficient, and user-friendly platform for developers, DeFi users, and enterprises.
Buy Fantom (FTM) on BITmarkets.
