What is Fantom?

What is Fantom

In this week’s Wealth Mastery Altcoin Review, we will discuss a project that’s been around a while and learn everything necessary in “What is Fantom.”

  • What is Fantom?
  • What is the Future of Fantom?
  • What is FTM Altcoin?
  • How do you Buy Fantom?
  • Is Fantom a Good Investment?

What is Fantom?

Fantom will be celebrating its fifth anniversary this year, so it’s time to look closer at where the project began and where it’s headed.

Fantom started its journey wanting to become the cheapest, fastest, and easiest network available to Governments and private institutions to build on. In fact, one of Fantom's biggest goals is to become the network banks rely on to transfer and issue Central Bank Digital Currencies (CBDC.)

Fantom is a network built using Directed Acyclic Graph technology similar to how IOTA operates its Tangle network. Fantom calls their consensus mechanism Lachesis (LCA), designed to be a more efficient consensus method. Fantom settles transactions in seconds using the Lachesis Leaderless Proof of Stake system. Designed to remove validators from determining which blocks are valid. Lachesis uses asynchronous Byzantine fault tolerance (aBFT) in combination with Directed Acyclic Graphs to update the network. With almost half a billion dollars in Total Value Locked (TVL) between the Ethereum Network and Fantom, Fantom boasts an ecosystem of over 250 DeFi applications.

Fantom has partnered with some of the biggest protocols operating in the blockchain sector, including Chainlink, Band Protocol, Ren, Covalent, Ankr, Waves, Injective Protocol, The Graph, and Cronos.

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