What is it?
Fantom ICO markets itself as the future of the decentralised ecosystem and offers a DAG (Directed Acrylic Graph) based smart contract platform with instantaneous transaction and unhindered scalability. Their team targets 300,000 transactions per second as their throughput target for Fantom’s blockchain.
How does it work?
Fantom seeks to achieve these lofty goals with the use of Opera Chain instead of blocks, which processes a list of events asynchronously without permission to modify previously confirmed transactions, and a Lachesis Protocol to maintain consensus within the Fantom network.
Opera Chain consists of three layers: Opera Core which creates events and maintains consensus across all nodes via the Lachesis Protocol, Opera Ware which creates payment functionality and an incentivised reward structure, and Opera Application as the top layer providing publicly available Application Programming Interfaces for applications to use Opera Ware features.
Consensus is further maintained through the ability to track previous transactions via their root value hash – the Story Root for all transactions. Fantom also boasts Fantom Virtual Machine – a SCALA-like Smart Contract Language allowing for byte code efficiency.
Fantom has a large team including the President of the Korea Food-Tech Association. The Association, a top-90 company in the 200B food-industry, is also acting as a partner. While Fantom may face competition from other DAG-based protocols, with its testnet launch set for Q4 2018, it has a team well-balanced between technology and enterprise. This may provide it with a unique advantage over other platforms seeking to combine DAG scalability with Smart Contracts to boost usability.
Ultimately, We Highly Recommend Fantom – especially as BTC continues to decrease – this can be seen as a way to hedge.
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