Hello and welcome to this blog post about Fantom FTM White Paper. I am very excited to know that you are interested in this amazing technology, you will be going to amazed by the incredible potential of the blockchain.
There is a lot to learn about this futuristic tech, lets get started to dive into the Fantom FTM white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.
The aim of this blog post is to help you quickly understand about the philosophy behind the Fantom (FTM).
I can ensue you that, you will be able to understand every bits and pieces related to Fantom (FTM) after going through the Fantom FTM white paper.
Without wasting any further time lets get started to dive right in and lets understand white paper first.
What is white paper?
A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.
A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.
Fantom FTM White Paper
Fantom FTM white paper will be going to provide you, all the information that is needed to get started with Fantom (FTM), including the inspiration for creating, the problem it is trying to solve and the solution proposed by Fantom (FTM).
“ Blockchain technology has provided a way to maintain consensus across all nodes with no central authority. However the technology faces fundamental issues like a lack of real-time transaction settlement and scalability.
Despite improved consensus algorithms, Some blockchain implementations such Bitcoin or Ethereum synchronize one block at a time. This results in slow confirmation times, one of the biggest factors stopping blockchain technology from being widely used across many industries.
Although Smart Contract platforms such as Cardano and EOS have started to emerge, public Distributed Ledgers are still not widely used. To address these persistent issues, a new model based on the Directed Acyclic Graph (DAG) was developed.
FANTOM is a new DAG based Smart Contract platform that intends to solve the scalability issues of existing public distributed ledger technologies.
The platform intends to distinguish itself from the traditional block ledger-based storage infrastructure by attempting to employ an improved version of existing DAG-based protocols.
The FANTOM platform adopts a new protocol known as the “Lachesis Protocol” to maintain consensus. This protocol is intended to be integrated into the Fantom OPERA Chain.
The aim is to allow applications built on top of the FANTOM OPERA Chain to enjoy instant transactions and near zero transaction costs for all users.
The mission of FANTOM is to provide compatibility between all transaction bodies around the world, and create an ecosystem which allows real-time transactions and data sharing with low cost.”
White Paper Link: Fantom (FTM) White Paper
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