For the coming running season, the Fantom blockchain network will cooperate with Formula One driver Pierre Gasly. The cooperation is one of the numerous partners aimed at promoting blockchain technology by mainstream usage. In the past couple of months, the Fantom Foundation has also announced its partnerships with Sushiswap, Yearn, FTX, Solana, Serum, Curve, Keep3rV1, Cover, C.R.E.A.M., Frax, and the GP.
“Very happy to be part of the Fantom Foundation adventure together with the Quantum FinTech Group,” Gasly stated in a tweet. “Fantom is the world’s first intelligent, mass-approved contract platform, enabling instant transactions at almost zero cost.”
Gasly is a driver for the Italian Formula One racing team and builder, Scuderia AlphaTauri. Gasly had an amazing 2021 Grand Prix race in April in Emilia Romagna. He begins his fourth F1 season as the all-time highest point scorer for Scuderia Alpha Tauri.
Fantom is a scalable and safe DeFi, DApp cryptography, and business applications blockchain platform. It offers customers a way of generating apps that securely transmit payments, swap digital currency, store sensitive information, and many more. The new platform is computer-based on a sophisticated DAG-based BFT consensual Algorithm known as ‘Lachesis.’
Andre Cronje, the founder of DeFi projects YFI and Keep3, has developed this technique. The Fantom Foundation has developed into a team of engineers, researchers, designers, and contractors committed to technology that addresses the blockchain trilemma of decentralization, speed, and security.
Core Principles Of Fantom
Fantom offers a three-layer core design for high volume, accurate execution, and compatibility.
The basic layer is the unique Lachesis aBFT consensus method, which enables the blockchain. Lachesis has asynchronous, unleading, Byzantine failure tolerance and ultimate freedom: users can manage instructions at different times, no participant has a special function, one-third of defective nodes is supported and transactions are finished in seconds.
The middle layer, middleware, is fully interoperable and compatible with EVM.
“Developers may use the Fantom Opera mainnet in minutes to carry their existing Ethereum-based dApps, significantly improving performance, and cutting costs,” says Fantom’s website.
Compatible apps for smart contracts or dApps are running in the top layer.
Fantom Is Revolutionary
Fantom overcomes the blockchain trilemma that states that it cannot simultaneously optimize speed, safety, and decentralization without compromises. For example, it takes up to 60 minutes for Bitcoin to clear up. While Fantom takes seconds.
The aBFT consensus of Fantom enables asynchronous transactions which result in higher speed than synchronous BFT leaders such as Ethereum and Bitcoin. Fantom’s usage of proof-of-stake to prevent centralization and save electricity is safe and environmentally benign. Proof of Work utilized by Ethereum and Bitcoin takes enormous quantities of energy.
Fantom can be scaled when networks are constructed independently of one other. The efficiency will thus not be affected by traffic or congestion, as each application has its own blockchain. Imagine each program that is connected to the same network on various PCs. There is no compromise in speed and safety on Fantom with thousands of networks. A whole, decentralized ecosystem can be adapted to individual needs for every network.
