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Welcome to our Trading Crypto Video!
Fantom is a decentralized, permissionless, open-source smart contract platform for decentralized applications (dApps) and digital assets — one of many blockchain networks built to provide an alternative to Ethereum. The Fantom blockchain mainnet went live in December 2019 and its network architecture intends to provide a viable solution to the Blockchain Trilemma by providing a steady balance of scalability, security, and decentralization.
Like other Ethereum alternatives, Fantom intends to provide more scalability and lower costs than the legacy first-mover smart contract platform is able to provide in its Ethereum 1.0 iteration. A unique element of the Fantom crypto platform is that users can create and deploy their own independent networks instead of relying solely on Fantom’s main consensus layer. Each application built on Fantom operates on its own unique blockchain.
Fantom network is best conceptualized as a parent network composed of individual child networks that host dApps of all shapes and sizes. Fantom’s infrastructure is tied together through its Asynchronous Byzantine Fault Tolerant (aBFT) Proof-of-Stake (PoS) consensus mechanism, which maintains the operational efficiency of the entire network. The aBFT network structure is designed to preserve network security while maximizing speed.
Fantom Network Structure
Fantom operates atop a bespoke “leaderless” PoS consensus mechanism dubbed Lachesis that secures the Fantom network and ensures both transactional speed and security. Lachesis is an aBFT consensus mechanism, which means that network data can be processed at different times, and the network can tolerate as much as one-third of participants engaging in faulty or malicious behavior without causing undue harm to network processes.
Lachesis also boasts near-instant finality. This means that transactions are confirmed and finalized within only a few seconds, without the need to wait for laborious block confirmation as experienced in Proof-of-Work (PoW) networks. By avoiding the relatively lengthy block confirmation process, this aBFT system is much faster and more scalable than many of its Byzantine Fault Tolerant (BFT) counterparts.
Prime XBT is a Bitcoin-based platform, offering leveraged trading on several digital assets including Bitcoin, Ethereum, Litecoin, and XRP. The company was founded in 2018 and from the very first day, we have grown exponentially and currently serve clients in more than 150 countries. We provide our clients with access to top-tier liquidity and a wide range of trading tools while maintaining security, liquidity, enabling a safe and efficient trading environment for everyone.
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 cryptocurrencies poses a considerable risk of loss. The speaker does not guarantee any particular outcome.
I hope you found value in our Trading Crypto video. Make sure to leave a like on the video if you gained value from it!
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