Fantom: A Fast and Flexible Next-Generation Blockchain

Summary

The speed of Fantom’s decentralized application (dApp) platform comes from a unique consensus technique dubbed Lachesis. Fantom also includes tools for integrating existing dApps, a complex staking incentive structure, and a set of built-in decentralized finance (DeFi) capabilities.

Contents

What Is Fantom?

Fantom is a decentralized, permissionless, open-source smart contract platform for decentralized apps (dApps) and digital assets, and it’s one of a number of blockchain networks designed to compete with Ethereum.

Fantom Network Structure

Fantom is built on top of Lachesis, a bespoke “leaderless” PoS consensus mechanism that secures the Fantom network while also ensuring transactional speed and security.

Fantom Blockchain Mainnet: Opera

Fantom’s mainnet deployment platform, Opera, is powered by the Lachesis consensus apparatus servers, which host dApps on the network.

Fantom Staking, FTM Token, and DeFi Suite

The Fantom blockchain ecosystem is powered by FTM, Fantom’s native utility coin. On the network, FTM tokens are utilized for staking, governance, payments, and fees. As of March 2021, there were 2.5 billion FTM coins in circulation out of a total quantity of 3.175 billion. The rest will be allocated as staking incentives for Fantom.

  • fUSD: a Fantom-based stablecoin that’s pegged to the U.S. dollar
  • fSwap: a synthetic asset decentralized trading platform
  • fLend: a liquidity pool from which users can lend or borrow

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