The Fantom blockchain is a decentralized network that allows for fast, secure, and private transactions. Transactions are finalized within seconds, and the cost per transaction is a fraction of a cent. The network has many use cases, including payments, digital identity, and medical records. Its architecture is modular, and the system is compatible with Ethereum and other blockchains. This means that developers can port their existing dApps to the Fantom network without having to start from scratch.
The Fantom blockchain is an open-source, permissionless blockchain. This means that anyone can run a validator. This is an important feature, as it helps to increase the security of the network. Furthermore, the open-source nature of the platform means that anyone can run a node and become a validator.
The Fantom protocol is based on the Lachesis consensus mechanism and Directed acyclic graph (DAG) foundation, enabling Fantom to create tokenized digital currencies. DAGs are another version of distributed ledgers that allow users to conduct anonymous and public transactions. The Fantom blockchain is backed by a strong team and a solid ecosystem.
The Fantom blockchain also provides tools and resources to developers to build their own blockchains and smart contracts. The network’s architecture aims to address the Blockchain Trilemma by providing a balance of security, scalability, and decentralization.