WHAT IS FANTOM NETWORK || 10% beneficiary to tron-fan-club

INTRODUCTION

When it comes to branding, Fantom network has interesting stuff and every build on it was just perfect. I will like to explain in detail what fantom network is, how it work, the DAG, consensus mechanisms, branding, governance and tokenomics.

FANTOM USES A DAG

DAG works like a blockchain but it is not a blockchain because it is in a blockchain, there are usually blocks before and after it and that makes the chain continue. A DAG doesn't connect data in a chain instead there are many different computers in the network that helps share data with the closest computer. Based on the data of near computers, the network agrees on what the ledger is. The ways DAG work is just like a bunch of computers spreading rumor of part transactions.

One of the benefits of how DAG work is that it confirms transactions faster because it does not have to wait for past transactions to be confirmed.

CONSENSUS MECHANISM

Fantom uses a very special Proof of Stake (Lachesis) and they do not have a lot of validators because you need to stake at least 1,000,000 Fantom coins to be a validator. It is important to know that in other to hack the Fantom network, you have to control a third of the network. If you don't have one million Fantom coins to stake to be a validator, you can delegate your coin to a validator to earn more Fantom coins. There is a lockup period, ranging from 1 day to 1 year. The Fantom network can process about 4,500 transactions per second.

There is a technical term used in the Fantom network called Finality and it is the moment a transaction is confirmed. Bitcoin achieved its finality in about 1 hour, Ethereum could achieve its finality in 10 minutes and Fantom could achieve its finality in 1 second. The gas fee is very cheap and could sometime cost less than 1 cent. Fantom network has a stablecoin that they are backing, you can the stable by locking up your Fantom coin.

EVM COMPATIBLE

The EVM is an acronym for Ethereum Virtual Machine and it help developer to move their works from the Ethereum network to the Fantom network easily. Some decentralized finance can use this EVM.

INCENTIVE PROGRAM

They have an interesting incentive program that promises to give developers up to half a billion dollars to build unique and useful Application on their network and this is very different from how some network incentive program works. Some networks such as Avalanche and Matic give money to the users to use the network. Fantom's strategy was different, they only give money to the developer to build some useful application on the network. Everything that the developers built on the network can be used by other networks because it is EVM compatible.

GOOD BRANDING

Fantom network has some interesting branding because there are some amazing dApps there work on the work. They have some individuals that willing to promote their network because they believe in the network.

GOVERNANCE

Fantom governance is very different because many blockchain users can the coin they stay to come up with new ideas on the network and other users can very on the idea base on the amount of coin they stake. Fantom network will let you rate an idea from 1 to 4 and in other for the idea to be embraced by the network, it must be over 66% of the voting power.

TOKENOMICS

Fantom token price was $0.1 back in 2020, it has an all-time high of $3.2 and it is currently $0.25. Fantom coin is inflationary and there is currently about 2.5 billion Fantom coin in circulation. The market cap is 659,499,958 and the trading volume is $124,017,547. They about $500 million to reward stakers.

CONCLUSION

Fantom network is work is a special way that is different from how blockchain validate their transactions. It use DAG technology which makes it faster. If you are develop, you can make millions by creating a useful application of fantom network because of fantom incentive program. I believe you have learn from this content of fantom network.

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@olatunde1