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What is the Fantom blockchain?


Fantom It is not actually a real blockchain, but a DAG based smart contract platform with 3 blockchains.

DAG (directed acyclic graph) is not a real chain, but a graph, and Fantom doesn't centralize all the processing power into a single decentralized ledger, allowing even users of its ecosystem to deploy their own independent networks.

The result is a high-performance, scalable, customizable and secure decentralized, permissionless, open source, decentralized platform for smart contracts designed to overcome the limitations of previous generation blockchains.

It uses a new aBFT consensus mechanism, Lachesis, which allows it to be faster and cheaper than previous technologies, but at the same time safe.

The key point is precisely this, allowing large amounts of fast and cheap transactions without sacrificing security and decentralization.

Furthermore, its modular architecture allows complete blockchain customization for digital assets, with different features tailored to specific use cases.

The project raised almost $ 40 million with an ICO completed in June 2018, and its ERC20 FTM token debuted on commercial markets in October 2018.

It was initially trading at $ 0.015, but experienced a brief increase that took it to a high of $ 0.027 on November 1, 2018.

Since then, the price fell for the first time, hitting a first low of just over $ 0.003 in February 2019, and then rising to a new high of $ 0.038 in January 2019.

The price then fell for several months, reaching a new absolute low of just over $ 0.002 during the collapse of the financial markets in mid-March 2020, but has now recovered enough to go from $ 0.005 on April 1. July to $ 0.012 on July 3, 2020.

The recent increase could be the result of the announcement that OK B, the utility token of the OKEx exchange, will become part of Fantom's DeFi ecosystemAs it will be used as collateral to open Guaranteed Debt Positions (CDP) in Fantom Finance, thus obtaining loans in stable currencies in fiat currencies such as USD, EUR, etc.

The ultimate goal is to develop a distributed ledger-based programmable platform with an asynchronous proof of stake consensus mechanism, integrated with the Ethereum virtual machine (EVM) and Web3JS stack.

This will allow users to write, compile, and distribute smart contracts in Fantom exactly as they do in Ethereum.

Transactions will generally be confirmed within 1 or 2 seconds, with the ability to support large numbers of nodes in an environment without open source permission, and the FTM token can be staked, used for government on-chain and as payment for network rates.

According to the official roadmap, the platform should be usable by the end of 2020, and many of the steps planned for the first half of this year have been completed.

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