Review on Fantom by francis fernandez
Fantom: a blockchain that combines three cutting-edge technologies
Fantom is a digital asset that operates on a DAG-based platform that allows fast and low-cost operations through the smart contract technology of the blockchain.
Its digital currency is identified by the acronym FTM and has a supply limit of 3,175,000,000 FTM. Its origins date back to June 2018. It works like an ERC-20 token because the coin operates under the Ethereum blockchain.
What is Fantom technology based on?
Fantom have a main chain called Opera that uses the aBFT consensus protocol that allows to develop decentralized open source applications and guarantees fast validation times.
The Opera main chain is synchronized with the Ethereum ecosystem (EVM) allowing the design of smart contracts through the Solidity protocol. This duality of Opera with the Ethereum virtual machine guarantees a seamless migration of decentralized applications (dApp).
Under Opera's consensus protocol, there are no leaders to validate the blocks, which provides security to the chain, in addition to a speed of less than 2 seconds to make a transaction immutable. The requirement to run a validator server is to own 3,175,000 FTM and to bet 1 FTM.
The advantage of the technology used by Fantom is that it combines the Ethereum virtual machine with the versatility of Solidity over the Opera chain to design smart contracts on a faster consensus system.
Where to buy FTM?
Fantom allows you to buy FTM through its PWA wallet that converts ERC-20 and BEP-2 to FTM. Ethereum is used for ERC-20 token and Binance in case of BEP-2.
Pros
- It makes it easy for developers to create decentralized applications through its open source.
- It combines three technologies on a single platform to provide users with fast and secure transactions.
- It allows the exchange of digital assets in a wide range of recognized exchange houses.
- Their transactions are low cost.
Cons
- Being a cryptocurrency it is subject to the volatility of the crypto market.
