#Fantom Ecosystem
The Fantom ecosystem is a distributed ledger technology (DLT) platform designed to enable real-time transactions with near-instant finality. The core of the Fantom platform consists of three components: the Opera Core, an open-sourced blockchain protocol; Lachesis Protocol, a consensus algorithm for speed and scalability; and Go-Fantom, a decentralized application development framework.
The goal of the Fantom team is to create an efficient and fast DLT network that can facilitate secure payments in both digital currency and fiat currencies. The project has been developed with input from leading international institutions such as Microsoft Azure, SBI Holdings Inc., Bank Of China International (BOCI), Midex Group Limited and more.
Opera Core is based on Directed Acyclic Graph (DAG) architecture which allows multiple chains to be run simultaneously on one mainchain while maintaining data integrity across all chains at any given time. This ensures that all transactions are processed quickly without sacrificing security or decentralization. Additionally, it enables parallel processing so multiple tasks can be completed simultaneously resulting in faster transaction speeds than traditional blockchains like Bitcoin or Ethereum networks.
Lachesis Protocol was built specifically for this type of system to ensure high throughput performance while also providing stronger security guarantees when compared with other consensus algorithms such as proof-of-work (PoW). It involves using two rounds of voting by randomly selected validators who then approve blocks created by users before they are added onto the chain – eliminating double spending attacks without compromising speed or scalability capabilities.
Go-Fantom is a native programming language designed specifically for use within the Fantom ecosystem allowing developers to quickly create applications that interact directly with the underlying blockchain technology securely and efficiently . These apps will allow businesses looking to utilize smart contracts or cryptocurrency wallets/exchanges access better services than what’s currently available in existing technologies like Ethereum or Hyperledger Fabric networks due its low latency times & near instant finality features plus much higher levels of scalability & extensibility capability into different sectors beyond just finance sector applications like IoT & gaming etc..
In conclusion ,the Fantom Ecosystem offers an effective solution for those wanting to build their own projects utilizing Distributed Ledger Technology soonest possible timeline since its already fully operational unlike most other projects out there still being under development stage . Plus there’s greater transparency since everything happens over public viewable immutable ledgers offering companies ultimate peace mind knowing that their data won’t get tampered too easily even if someone does have malicious intentions towards them . All these advantages make it very attractive choice over others which might take longer time developing thus making it ideal option for anyone looking forward taking advantage from this new wave of technological revolution called Blockchain !
