#Fantom
Fantom is a distributed ledger platform designed to facilitate fast, secure, and scalable transaction processing. It was launched in 2018 by the Fantom Foundation with the mission of creating an open-source blockchain protocol that would enable smart contracts on its platform while providing high throughputs and low latency. The project utilizes directed acyclic graph (DAG) technology for its consensus mechanism that allows data to be stored asynchronously without miners or blocks. This makes it stand out from other blockchains because transactions can take place near instantaneously without sacrificing security or scalability.
The primary use case for Fantom is enterprise applications such as supply chain management, asset tracking, fraud prevention, healthcare services and more due to its ability to process thousands of transactions per second quickly and securely with minimal fees compared to traditional payment systems like credit cards or bank transfers which often have higher costs associated with them. Additionally, users have full control over their own funds since all payments are peer-to-peer meaning there’s no middleman involved so users don’t need any third party approval before making a transaction – this also eliminates counterparty risk which could otherwise lead to financial losses if one side fails to uphold their end of the agreement. Finally Fantom provides developers with tools they can use build decentralized applications (dApps) on top of its network allowing businesses create custom solutions tailored specifically towards their needs rather than relying solely on existing off-the-shelf software packages available elsewhere in market today giving them greater flexibility when implementing new technologies into their operations.
The native token used within the system is called FTM (ERC20 token), which acts as both fuel for powering dApp development along with being traded freely between exchanges just like any other cryptocurrency out there – though unlike most coins it doesn’t suffer from scaling issues thanks largely due lack having blocks caused by DAG structure mentioned earlier; instead each node processes whatever information comes through immediately thus preventing bottlenecks during high traffic times reducing waiting periods significantly compared what we typically see some blockchains where nodes must wait until next block gets mined order finish verifying/processing requested action(s).
