Fantom is a high-performance, scalable, and secure Blockchain.
It utilizes a unique combination of a Directed Acyclic Graph (DAG) and the Lachesis consensus mechanism, enabling faster transaction throughput while maintaining decentralization and security.
A Directed Acyclic Graph (DAG) is a network model that consists of nodes connected by edges.
Unlike traditional blockchains, where transactions are grouped in blocks and form a single chain, a DAG allows multiple blocks to be added In parallel.
This structure does not require a specific order for adding blocks, enabling faster processing of transactions and enhancing the overall efficiency of the system.
Other examples of DAGs are Hedera & Kaspa.
TO LEARN MORE ⤵️
https://dagshub.com/blog/an-introduction-to-directed-acyclic-graphs-dags-for-data-scientists/
https://www.boardinfinity.com/blog/directed-acyclic-graph-representation/
Asynchronous Byzantine Fault Tolerance (aBFT): Nodes reach consensus independently and asynchronously, verifying transactions without needing sequential block exchanges.
Analogy: Imagine a decentralized postal system where each post office (node) operates independently but in perfect harmony with others. In this system, there's no need for letters (transactions) to pass sequentially through each post office. Instead, each office processes letters based on the latest information it has, symbolizing asynchronous Byzantine Fault Tolerance (aBFT).
Directed Acyclic Graphs (DAG): Similar to an advanced sorting system that organizes letters (transactions) non-linearly, enhancing efficiency and speed.
Directed Acyclic Graphs (DAG): Allows concurrent creation and addition of multiple transaction-containing blocks to the DAG, enhancing transaction speed.
Event Blocks and Main Chain: The process of sharing and agreeing upon event blocks among nodes resembles the distribution and verification of letters across this network, culminating in a final, ordered record in the main chain
Event Blocks and Main Chain: Nodes share event blocks which become root event blocks upon majority validator agreement, then ordered in the main chain for final, immutable consensus.
New Features: Incorporates a new virtual machine, improved database storage, and optimized consensus, aimed to achieve over 2,000 TPS with an average finality of one second.
Compatibility and Testnet: No hard fork is required, compatible with any Web3 EVM blockchain. Sonic testnet available for firsthand experience, with mainnet release planned for spring 2024.
Vision and Accessibility: Intends to revolutionize blockchain speed and accessibility, particularly targeting major financial institutions for blockchain applications.
https://x.com/FantomFDN/status/1722288782869754165?s=20
Token Allocation and Supply Details:
Initial Token Distribution: The initial distribution of FTM tokens was divided among various categories. This included 32.75% for block rewards, 12% for advisors/contributors, 6% for strategic reserve, 1.57% for public sale, 11.69% for private sale II, 25.35% for private sale I, and 3.15% for seed sale.
Total Supply: Fantom's total supply is capped at 3.175 billion FTM. Of this, 2.1 billion FTM are currently in circulation, while the remainder is reserved for staking rewards. It's estimated that it will take more than two years to distribute all the staking rewards and reach full circulation of the total supply.
Trading Standards: FTM is available in different token standards (native mainnet token, ERC-20 token, and BEP-2 token) to facilitate easier trading.
Token Utility:
Securing the Network: FTM is used in Fantom's Proof-of-Stake system to secure the network. Validator nodes are required to hold a minimum of 3,175,000 FTM. In return for staking and validating, participants are rewarded with epoch rewards and fees.
Payments: Due to the high throughput, fast finality, and low fees of the Fantom network, FTM is ideal for processing payments. Transactions on Fantom typically take around 1 second and cost a fraction of a cent.
On-Chain Governance: FTM is required for participating in on-chain governance. As a fully permissionless and leaderless decentralized ecosystem, all network decisions are made through on-chain governance, where FTM holders can propose and vote on changes and improvements.
Network Fees: FTM is used to pay for various network fees, including transaction fees and fees for deploying smart contracts or creating new networks.
Inflation and Deflation Mechanisms:
The initial token launch date for FTM was June 15, 2018. The token follows an inflationary emission rate since its genesis. However, specific details about inflation and deflation mechanisms are not explicitly provided in the sources.
https://token.unlocks.app/fantom
Decentralized Exchanges (DEXs):
SpookySwap: A leading decentralized exchange on Fantom, offering token swapping, liquidity provision, and staking. It uses an Automated Market Maker (AMM) model and supports token bridging to other networks. Its native token, BOO, is used for governance and utility within the platform.
Beethoven X: This platform, built on Balancer V2, is a decentralized investment platform offering various financial services like customizable liquidity pools and token swaps. It uses the BEETS token for governance and incentive programs.
WigoSwap: Is a comprehensive DeFi suite offering services like DEX, Yield Farming, and Staking with exceptionally low transaction fees (0.19%). It stands out for its user-friendly interface, integrating DeFi with gamification through WigoGalaxy and PREDICT.
Lending Protocols:
Geist Finance: A decentralized lending protocol where users can provide liquidity for passive income or take out loans. It operates without governance or ownership, distributing a portion of its revenue to GEIST stakers.
Tarot Finance: This protocol offers isolated lending pools and leveraged yield farming. It's akin to other non-custodial, permissionless lending and borrowing platforms.
QiDao: A unique zero-interest crypto lending protocol on Fantom, offering stablecoin loans at 0% interest rates.
Yield Aggregators:
Beefy Finance: As a multi-chain yield optimizer, Beefy Finance offers vaults for compounding yield farm rewards and operates under a DAO structure for governance. It has been successful on Fantom due to the blockchain's low fees and fast transactions.
Yearn Finance: A yield aggregator, Yearn Finance automatically moves users' funds between different DeFi protocols to earn the highest yield. Its native token, YFI, is used for governance within the ecosystem.
Dr. Ahn Byung Ik (Founder): PhD in Computer Science, Co-Founder of SikSin.
Michael Kong (CEO/CIO): Former CTO at Digital Currency Holdings.
Michael Chen (CMO): Former Consultant at Fusion Foundation.
David Richardson (Director): Former Managing CEO at Mid-Ocean Consulting Ltd.
Andre Cronje (Technical Advisor): Former Chief Crypto Code Reviewer at CryptoBriefing.
Fred Pucci (Legal Counsel): Partner at TCM Capital.
Ashton Hettiarachi (Head of Innovation): CEO of Blockchain Partners Holdings.