What is Fantom Coin? How does Fantom Coin work?

Fantom coin: a high-speed, scalable blockchain platform

Introduction

Fantom coin is a directed acyclic graph (DAG) based ) technology-based cryptocurrency known for its high speed, scalability, and low transaction fees.

Working Principle

Fantom Coin is different from the traditional blockchain in that it uses DAG to record transactions. A DAG is a data structure in which each block is connected to multiple previous blocks instead of just one. This design enables transactions to be processed in parallel, thereby increasing overall processing power.

The consensus mechanism used by Fantom Coin is called Lachesis, which is a Byzantine fault-tolerant algorithm that ensures the security of the network, even in the face of network failure.

Advantages

Fantom Coin offers the following advantages:

• High throughput: thousands of transactions can be processed per second.
• Low transaction fees: Transaction fees are extremely low, usually less than a penny.
• Scalability: As the number of transactions on the network increases, throughput automatically increases.
• Security: The Lachesis consensus mechanism ensures the security of the network, even in the event of malicious attacks.

Applications

Fantom coins can be used in a variety of applications, including:

• Payments: Fast, low-cost payments.
• Decentralized Finance (DeFi): Develop and deploy DeFi applications.
• Games: Create blockchain-based games and virtual worlds.
• Supply Chain Management: Track and manage goods in the supply chain.

Conclusion

Fantom Coin is a high-speed, scalable and secure blockchain platform that offers potential for a variety of applications. Its unique DAG technology and Lachesis consensus mechanism make it stand out in the highly competitive cryptocurrency market.

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