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⏰ Time Stamps ⏰
1:12 Introduction
3:20 Architecture
6:00 Consensus Protocol
7:56 Fantom Virtual Machine
8:48 Fantom Crypto FTM
11:11 Fantom Foundation
12:03 Roadmap & Updates
13:58 FTM Markets
15:00 Conclusion
⛓️ 🔗 Helpful Links 🔗 ⛓️
► Website: https://fantom.foundation/en/
► Whitepaper: https://fantom.foundation/Documents/wp_fantom_v1.6.pdf
► GitHub: https://github.com/Fantom-Foundation
📱️ Socials 📱
► Blog: https://medium.com/fantomfoundation
► Twitter: https://twitter.com/FantomFDN
► Telegram: https://t.me/Fantom_English
📰 Sources 📰
► Gossip Protocol: https://haritibcoblog.com/2018/11/01/what-is-a-gossip-protocol/
📝 Project Overview 📝
Fantom is a newish projec that uses a DAG (Directed Accyclic Graph). Fantom wants to provide a way to realistically offer infinite scalability.
Fantom fantom things that they can scale their DAG based ledger up to 300,000 transactions per second.
⚙️ Technology ⚙️
Fantom’s protocol architecture is separated into three distinct layers. These layers have specific duties and responsibilities, all of which make the Fantom platform operate smoothly and efficiently. These layers are the Opera Core Layer, the Opera Ware Layer, and the Application Layer.
Fantom’s core consensus protocol is an asynchronous byzantine fault tolerant algorithm, also known as an aBFT. The project calls this their Lachesis aBFT. This type of algorithm is based on a principle referred to as a gossip protocol. Data propagates through the system node by node like a virus. Eventually, this will reach every node in the Fantom network.
Fantom developed its aBFT to be flexible and compatible with already existing codebases like Go-Ethereum or Cosmos’ software development kit.
Fantom is trying to develop a virtual machine with better security that aims to provide external code linking, scalability, and a well-defined library. Additionally, Fantom virtual machine offers the core functionality needed to create a well-established dApp ecosystem for its users.
💰️ Token 💰
There is a total supply of just over 3 billion FTM, with a little under 2 billion currently in circulation. Fantom intends to use an inflationary model to expand its current ecosystem, with the coins primarily used for reward purposes on the platform.
There will be an initial inflation rate of 5% that will decrease as users become part of the Fantom network. 20% of that inflation will be used to provide rewards to nodes, while the rest will incentivize other users contributing to the growth and development of the platform.
FTM is used for staking on the Fantom network. Fantom has designated a good amount of its pool to stakers in an effort to grow the network while also increasing its security. The rewards pool set aside by Fantom is shared by all stakers. That means, the more FTM that’s staked, the lower the reward as a result of dilution.
👨💻️ Team, Partners & Development 👨💻
There seems to a pretty large team over at the foundation. They have diverse backgrounds, including business development, architecture, software engineering, cryptography, and finance.
Additionally, Fantom has a strong advisory board, which consists of the president of the Korean Blockchain Association and the COO of Digital Currency Holdings.
On the partner front, Fantom has listed at least two in their whitepaper. One of these is the Korea FoodTech Association and the other is the Oracle Corporation.
For the updates, Fantom wants to give its Lachesis consensus Tendermint like capabilities. This includes expanding on its ability to interact with different blockchains, as well as developing compatibility with various technologies.
📈 Trading & Wallets 📈
FTM is listed on a number of exchanges however the bulk of the trading appears to be taking place on Binance and ChainX.
When it comes to storage, your best bet is to perhaps use Fantom's core wallet. It is offered in both a mobile and desktop version.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#Fantom #FTM #crypto #DAG #Review #binance #cryptocurrency
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