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What is Fantom?

tokenviewAbout 1 min

What is Fantom?

So there is more than one Arbitrum chain on Ethereum. The fact that multiple chains can run in parallel is an important advantage of off-chain scaling techniques. Currently, on the Ethereum mainnet, there are 2 Arbitrum chains: an Arbitrum Rollup chain called 'Arbitrum One', and an AnyTrust chain called 'Nova'; users and developers can choose what suits their security/transaction cost needs anything.

What problems does Fantom solve?

Fantom solves the core problem: its high-speed consensus mechanism, Lachesis, allows digital assets to run at an unprecedented speed and provides a huge improvement over the current system. Unlike other solutions, Fantom does not sacrifice security and decentralization for scalability. Indeed, Fantom brings advantages beyond pure performance; its modular architecture allows for the complete customization of blockchains for digital assets, tailoring different features according to their use cases.

Fantom also provides extremely high security by securing the network using a leaderless Proof-of-Stake protocol. Fantom's aBFT consensus is called Lachesis, which can be extended to many nodes around the world in a permissionless, open environment, providing a good degree of decentralization. It does not use delegated proof-of-stake, nor does it have the concept of a 'masternode'.

How does Fantom work?

Lachesis represents a consensus layer of the blockchain technology stack that can be plugged into any distributed ledger.

Lachesis supports Fantom’s Opera mainnet deployment, which uses the Ethereum Virtual Machine (EVM) and is compatible with Ethereum. Modularity makes Fantom very flexible. Developers can port existing Ethereum-based dapps to the Fantom Opera mainnet in minutes, dramatically improving performance and reducing costs.

Fantom is safe and environmentally friendly

Fantom is secured by Proof-of-Stake. Unlike the proof-of-work used by Bitcoin, proof-of-stake prevents centralization and saves electricity. Lachesis can provide institutional-grade security for distributed networks. Fantom provides finality, meaning transactions can never be reversed like in probabilistic finality networks. The consensus mechanism can be extended to hundreds of nodes, increasing decentralization and thus improving security. Finally, Lachesis is leaderless. By removing the leader, security no longer depends on a small group of participants.

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