Fantom is a directed acyclic graph (DAG)-based smart contract platform designed to offer decentralized finance (DeFi) services to developers through its unique consensus mechanism. As an open-source platform for decentralized applications (DApps) and digital assets, Fantom seeks to address the limitations of earlier blockchains by balancing scalability, security, and decentralization. The native FTM token powers the ecosystem and is used for network fees, staking, payments, and governance. Fantom strives to enhance global compatibility between transaction systems while aiming to deliver greater scalability at reduced costs compared to traditional blockchain platforms.

Fantom’s architecture relies on two core technologies: the Lachesis protocol and Opera. Lachesis is an Asynchronous Byzantine Fault Tolerant (aBFT) consensus mechanism that leverages a DAG-based algorithm to process transactions quickly and securely across the network. This protocol ensures high-speed data processing while maintaining network integrity. Opera, Fantom's mainnet platform, hosts decentralized applications and operates with a Proof-of-Stake (PoS) model featuring leaderless validators. This structure improves security and decentralization across the network while supporting the efficient deployment of DApps.

Fantom is designed to handle thousands of transactions per second, with settlement times of 1-2 seconds and minimal transaction fees. This high performance makes it well-suited for applications requiring fast, scalable, and cost-effective transaction processing. The platform features on-chain governance, allowing users to vote on network proposals using FTM tokens. Fantom also provides tools to simplify the integration of existing DApps, offers staking rewards, and includes built-in DeFi functionalities. Its versatility makes it applicable in various sectors, from financial services to supply chain management, where speed and security are critical.

Fantom was established in 2018 by Dr. Ahn Byung Ik, a South Korean computer scientist, under the guidance of the Fantom Foundation. The network's mainnet, Opera, launched in December 2019, marking a significant step in the platform's development. The team behind Fantom has extensive experience in full-stack blockchain development and aimed to create a smart contract platform that prioritizes scalability, security, and decentralization. Fantom funded its development through token sales in 2018, with a total supply of 3.175 billion FTM tokens. A significant portion of these tokens is in circulation, while the rest were released according to a pre-set schedule.

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