What is Fantom and how does it work in the world of cryptocurrency?

3 answers

• Dec 18, 2021 · 3 years ago
  Fantom is a decentralized, open-source blockchain platform that aims to provide fast and secure transactions for decentralized applications (dApps) and smart contracts. It utilizes a directed acyclic graph (DAG) consensus mechanism called the Lachesis protocol, which allows for high scalability and low transaction fees. Fantom also incorporates a virtual machine called the EVM-Lite, which is compatible with Ethereum smart contracts. By leveraging these technologies, Fantom aims to revolutionize the way transactions are conducted in the world of cryptocurrency.
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• Dec 18, 2021 · 3 years ago
  In simple terms, Fantom is a blockchain platform that enables fast and secure transactions. It uses a unique consensus mechanism called the Lachesis protocol, which allows for high scalability and low fees. This means that transactions can be processed quickly and at a lower cost compared to traditional blockchain networks. Additionally, Fantom is compatible with Ethereum smart contracts, making it easy for developers to build decentralized applications on the platform. Overall, Fantom aims to improve the efficiency and usability of cryptocurrencies in various industries.
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• Dec 18, 2021 · 3 years ago
  Fantom is a promising blockchain platform that offers fast and secure transactions. It utilizes the Lachesis protocol, which is known for its scalability and low fees. With Fantom, users can enjoy quick and cost-effective transactions, making it an attractive option for businesses and individuals in the cryptocurrency space. Additionally, Fantom is compatible with Ethereum, allowing developers to leverage existing smart contracts and build innovative decentralized applications. If you're looking for a blockchain platform that combines speed, security, and compatibility, Fantom is definitely worth considering.
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