☆ Overview
Fantom is a decentralized, high-performance blockchain platform designed to overcome the limitations of previous generations of blockchain networks. Launched in 2019 by the Fantom Foundation, Fantom aims to provide a scalable, secure, and efficient environment for decentralized applications (DApps) and enterprise use cases.
The Major Features of the Fantom Blockchain
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High Performance: Fantom boasts high throughput and fast transaction finality, processing thousands of transactions per second with confirmation times of around 1 second. This performance is enabled by its unique consensus mechanism, Lachesis, a leaderless, asynchronous Byzantine Fault Tolerant (aBFT) protocol that ensures fast and secure consensus without compromising decentralization.
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Scalability: Fantom is designed to be highly scalable, capable of supporting a large number of transactions and users without network congestion. Its architecture allows for the creation of multiple blockchains, each with its own specific use case and ruleset, which can interact with each other seamlessly. This modularity provides a scalable environment for diverse applications.
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Interoperability: Fantom supports interoperability with other blockchain networks, enabling seamless asset and data transfer between Fantom and external blockchains. This is facilitated by Fantom’s cross-chain bridges and standardized communication protocols, ensuring efficient and secure interactions between different blockchain ecosystems.