Fantom is a smart contract platform that aims to provide fast and scalable decentralized applications. It utilizes a directed acyclic graph (DAG) based architecture to achieve high transaction speeds and low fees. Fantom’s mainnet uses a consensus mechanism called Lachesis, which allows for quick confirmation of transactions without sacrificing security.
One key feature of Fantom is its ability to support multiple programming languages, making it more accessible to developers. This flexibility allows for the creation of a wide range of decentralized applications on the platform.
Fantom’s native cryptocurrency is known as FTM, which is used for various purposes on the network, such as paying for transaction fees and participating in governance decisions. FTM can be staked to help secure the network and earn rewards in return.
Overall, Fantom aims to address the scalability issues faced by many blockchain networks, providing a platform for efficient and low-cost decentralized applications.
