Fantom (FTM) is a trustless and leaderless layer 1 proof-of-stake blockchain for smart contracts and DApps. Transactions on their network are generally verified within a second for less than a penny.
Links: Home | CoinMarketCap | Twitter
Fantom Blockchain Features
- Ethereum Virtual Machine (EVM) compatible. Developers can deploy their EVM DApps on Fantom with minimal rewriting of code.
- Validator nodes verify transactions.
- Over 80 DApps deployed on their network including DEXs, bridges, lending, yield farms, and NFT platforms.
Fantom uses Lachesis as their consensus protocol, which is:
- Asynchronous Byzantine Fault Tolerant (aBFT), meaning it can support 1/3 malicious nodes and still function.
- Able to be used as a consensus module for other blockchains.
- Transaction finality in two seconds without waiting for block confirmation.
- Events are synced across their directed acyclic graph (DAG) instead of blocks.
- There are no leaders or “special” nodes that can dominate the network.
- Bank level security (supposedly)
FTM Token Numbers
As of June, ’24, Fantom has a market cap of $2.3 billion, a circulating supply of 2.8 billion, and their max supply is 3.175 billion coins.
FTM Conclusion
Fantom is interesting because it uses a DAG to speed up consensus. They are integrating with many projects and their cross-chain efforts are impressive.
There are many competitors with similar speed. It is difficult to tell which ones will remain and which will acheive mass adoption. I have a feeling that consensus will undergo further revolutions in the near future and interoperability will be vital.
I can’t tell how Fantom (FTM) will do in the long run, but they have decent momentum and a strong foundation.