372
edits
Difference between revisions of "Fantom"
Jump to navigation
Jump to search
m
no edit summary
(move fantom information to Fantom page) |
m |
||
| (3 intermediate revisions by 2 users not shown) | |||
| Line 3: | Line 3: | ||
Fantom’s mainnet deployment—Fantom Opera—is built on Fantom’s consensus mechanism, Lachesis. | Fantom’s mainnet deployment—Fantom Opera—is built on Fantom’s consensus mechanism, Lachesis. | ||
== | == Fantom Foundation == | ||
Fantom Foundation was created to steward the development of the Fantom Blockchain (known as Opera) and foster an open ecosystem of developers and partners that could build towards their ultimate goal of solving the Blockchain Trilemma. For some background on the Blockchain Trilemma and how Fantom addresses it you can take a look at this link from the [https://fantom.foundation/fantom-faq/#problem FAQ] section of their main site. | |||
== Purpose of the FTM token<ref>https://fantom.foundation/fantom-faq/</ref> == | |||
The FTM token has a number of use cases within the Fantom ecosystem. | The FTM token has a number of use cases within the Fantom ecosystem. | ||
It plays an essential role for a well-functioning, healthy network. | It plays an essential role for a well-functioning, healthy network. | ||
=== | === Securing the network === | ||
Fantom uses a Proof-of-Stake system that requires validators to hold FTM. | Fantom uses a Proof-of-Stake system that requires validators to hold FTM. | ||
| Line 19: | Line 22: | ||
By locking in their FTM, validators help the network to be decentralized and secure. | By locking in their FTM, validators help the network to be decentralized and secure. | ||
=== | === Paying for network fees === | ||
To compensate validators for their services and prevent transaction spam, every action performed within the Fantom network costs a small fee. | To compensate validators for their services and prevent transaction spam, every action performed within the Fantom network costs a small fee. | ||
This fee is paid in FTM. | This fee is paid in FTM. | ||
=== | === Voting in on-chain governance === | ||
Decisions regarding the Fantom ecosystem are made using transparent on-chain voting. | Decisions regarding the Fantom ecosystem are made using transparent on-chain voting. | ||
| Line 33: | Line 36: | ||
With FTM as the governance token, validators and delegators can vote on network parameters such as block rewards as well technical committees and so forth. | With FTM as the governance token, validators and delegators can vote on network parameters such as block rewards as well technical committees and so forth. | ||
== | == Lachesis<ref>https://fantom.foundation/lachesis-consensus-algorithm/</ref> == | ||
Lachesis is Fantom’s aBFT consensus algorithm. Simply put, a consensus mechanism is the engine that powers the blockchain. | Lachesis is Fantom’s aBFT consensus algorithm. Simply put, a consensus mechanism is the engine that powers the blockchain. | ||
| Line 49: | Line 52: | ||
=== References === | === References === | ||
<references /> | <references /> | ||
[[Category:Chain]] | |||