Fantom

Fantom:

An Overview of the Next-Generation Blockchain Platform

Fantom is a next-generation blockchain platform that was launched in 2018. It is an open-source, decentralized platform designed to enable distributed applications and smart contracts to be built with the utmost security. It is the first platform to use the revolutionary Directed Acyclic Graph (DAG) technology, which allows for high scalability and low transaction fees.

What Is DAG Technology?

DAG technology is a data structure that is used to store data in a decentralized manner. It is a type of directed graph where each node represents an individual transaction. Every transaction is linked to the previous transaction, and all transactions are stored on the network, creating a secure, distributed ledger of transactions.

The main advantage of DAG technology is that it eliminates the need for miners, which are typically used in traditional blockchain networks. This reduces the overhead of operating a blockchain network, making it more efficient and cost-effective.

Benefits of Fantom

Fantom has several advantages that make it stand out from other blockchain networks. These include:

• High Scalability: Fantom can process up to 10,000 transactions per second, making it one of the most scalable blockchain networks.

• Low Transaction Fees: Because there are no miners, transaction fees are much lower than other blockchain networks.

• Secure: Fantom is secure because all transactions are stored on the distributed ledger, which is protected by cryptographic algorithms.

• Easy to Use: The platform is designed to be user-friendly, so anyone can use it without needing to be a technical expert.

• Open-Source: Fantom is open-source, which means that anyone can contribute to the development of the platform.

Conclusion

Fantom is a revolutionary blockchain platform that has been designed to make distributed applications and smart contracts more secure and efficient. With its DAG technology, it offers high scalability and low transaction fees. It is also easy to use and open-source, making it an attractive option for developers.