What’s special about Fantom (FTM)?
As an avid follower of projects based on different cryptographic protocols, with the blockchain being the first of its kind, I get excited when projects from the ICO era show promise.
One such promising project is Fantom, a fast, high-throughput open-source smart contract platform focusing on digital assets and Decentralized Applications – Dapps.
Fantom prides itself in its speeds giving close to instant transactions, security, and scalability at a low fee.
Unlike most projects in the space that developed their solutions on the blockchain that has revealed several drawbacks, with scalability being a major one, Fantom is one of the few projects in the space that chose a different route.
Fantom built its infrastructure using a different variant of distributed ledger technology known as the Directed Acyclic Graph DAG network, which scales better and more secure with more users onboard.
Founded by the South Korean computer scientist Dr. Ahn Byung Ik in 2018, the Fantom Foundation oversees the Fantom project deliverables.
Fantom’s Opera Mainnet V0.1 was launched in 2019 with future improvements to come.
Fantom – Opera Core Layer
The Fantom network’s base layer responsible for managing consensus across the nodes in the Lachesis Protocol.
It allows for asynchronous processing and confirmation of Transactions using a Directed Acyclic Graph DAG network.
Unlike blockchain solutions, transaction data does not have to be saved on every node. Using the DAG network, transactions are validated using particular nodes, dubbed a witness node.
Validating nodes are elected using a Delegated …
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