Fantom (FTM) is a blockchain platform that aims to provide fast, scalable, and secure decentralized applications (dApps) and smart contracts. It was founded in 2018 by Michael Kong and is operated by the Fantom Foundation. The name "Fantom" is derived from the word "phantom," symbolizing the platform's ability to handle transactions quickly without sacrificing security. FTM serves as the native cryptocurrency of the Fantom network, used for transaction fees and staking rewards.
Fantom is a blockchain platform that operates on a Directed Acyclic Graph (DAG) consensus mechanism. Unlike traditional blockchain architectures, which use a linear chain of blocks, Fantom uses a DAG structure called Lachesis.
The underlying technology behind Fantom is based on aBFT (asynchronous Byzantine Fault Tolerance), a consensus algorithm that enables fast and secure transaction processing. This design allows multiple transactions to be processed concurrently, increasing efficiency and scalability.
Fantom's blockchain is known as the Opera Chain, which serves as the mainnet for the platform. It utilizes a layered architecture to support various functionalities and applications. By separating the consensus mechanism from the execution environment, Fantom achieves high scalability and interoperability.
The Fantom network functions by relying on validators who participate in securing the network and validating transactions. Validators are chosen through a decentralized random beacon mechanism, ensuring fairness and security.
In addition to its high throughput and scalability, Fantom offers low transaction fees and near-instant finality. This makes it suitable for a wide range of decentralized applications (dApps) and use cases, including DeFi platforms, supply chain management, and digital identity, among others.
Overall, Fantom's innovative DAG-based architecture and aBFT consensus algorithm contribute to its ability to handle a high volume of transactions quickly and securely. This makes it an attractive option for developers and enterprises looking to build decentralized applications on a scalable and reliable blockchain platform.
Fantom is a blockchain platform that offers several benefits compared to its direct competitors. One significant advantage is its high scalability. Fantom utilizes a directed acyclic graph (DAG) structure, which allows for fast and parallel processing of transactions. This approach enables Fantom to achieve significantly higher transaction speeds compared to traditional blockchain platforms such as Ethereum or Bitcoin. Furthermore, Fantom's consensus mechanism, known as Lachesis, eliminates the need for miners, resulting in lower transaction fees and energy consumption.
Another key benefit of Fantom is its compatibility with the Ethereum Virtual Machine (EVM). This means that developers can easily transfer their existing Ethereum-based smart contracts to the Fantom platform without the need for major modifications. This compatibility significantly reduces the entry barriers for developers and provides a seamless transition for existing projects.
Additionally, Fantom has a robust ecosystem that supports various decentralized applications (dApps) and services. Its focus on interoperability allows for easy integration with other blockchain networks, enhancing the overall usability and flexibility of the platform.
In terms of security, Fantom utilizes a Byzantine Fault Tolerant (BFT) consensus algorithm, which provides strong resistance against potential attacks and ensures the integrity of the network.
Overall, Fantom's scalability, EVM compatibility, strong ecosystem, and security features distinguish it from its direct competitors. These benefits make Fantom an attractive option for developers and businesses seeking a robust and efficient blockchain platform.
Fantom is a blockchain platform that aims to provide fast, secure, and scalable solutions for decentralized applications (dApps) and smart contracts. It utilizes a consensus mechanism called Lachesis, which combines the advantages of both Proof-of-Stake (PoS) and Directed Acyclic Graph (DAG) technologies.
As for its use cases, Fantom is primarily used for creating and deploying dApps that require high transaction throughput and near-instant finality. Its fast and scalable nature makes it suitable for applications that demand real-time transactions, such as supply chain tracking, gaming, and decentralized finance (DeFi).
One specific use case of Fantom is its application in the DeFi sector. With its fast transaction speeds and low fees, Fantom enables efficient and cost-effective DeFi solutions. It provides the infrastructure for decentralized exchanges (DEXs), lending platforms, yield farming protocols, and other financial services that rely on the execution of smart contracts. The Fantom ecosystem also supports stablecoins and various financial instruments, allowing users to access decentralized lending and trading options without the need for intermediaries.
In conclusion, Fantom is a blockchain platform designed to facilitate high-performance decentralized applications and smart contracts. While it can be used in various industries, its application in the DeFi sector exemplifies its strengths in terms of transaction speed, scalability, and cost-efficiency.
DIA's Fantom API is part of DIA's range of API endpoints that provide real-time price feeds of various crypto assets. These price feeds are constructed using raw data sourced from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, including billions of individual trades. This comprehensive data collection allows DIA to offer a level of accuracy and depth that sets them apart from other web3 data providers.
One of the key benefits of DIA's API endpoints is that they offer both free and customizable options. Developers can access free API endpoints for testing purposes, which are easily accessible on the relevant asset's detail page in the DIA App. These free endpoints are provided in a standardized format for informational purposes.
However, DIA understands that different users may have specific requirements for their price feed configurations. To cater to these needs, DIA offers fully customizable and tailored API data feeds. These custom feeds can be designed based on individual preferences, including sources, methodologies, update mechanisms, and more. Users can request a custom feed through Discord or Telegram communication channels.
The API endpoints provided by DIA have versatile use cases within the blockchain ecosystem. In the DeFi space, they can be utilized for derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. For NFTfi applications, the API feeds can enable peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and other use cases.
In summary, DIA's Fantom API and its broader API offering provide real-time price feeds sourced from numerous exchanges. While free API endpoints are available for testing, the custom feeds offered by DIA provide users with greater flexibility and customization options to meet their specific needs within the blockchain ecosystem.
DIA's Fantom price oracle is a smart contract that provides real-time price feeds for cryptocurrencies. DIA has integrated with over 35 layer 1 and layer 2 networks, making it capable of deploying price oracles in multiple blockchains. These price feeds are created by sourcing raw data from more than 85 on-chain and off-chain crypto and NFT exchanges, enabling DIA to deliver unparalleled data in the web3 space.
While DIA does offer demo oracles for developers to test, these are solely for testing purposes and cannot be integrated into production applications. However, developers can request custom configurations for their specific needs. DIA can create dedicated price feed oracles tailored to the user's requirements, including sources, methodologies, and update mechanisms. To request a custom feed, users can reach out to DIA via Discord or Telegram.
DIA's price oracles have a wide range of use cases within the blockchain ecosystem. In the DeFi space, the price information can be utilized in derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. In the NFTfi sector, the oracles can facilitate peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and various other applications.
In the context of blockchain technology, an oracle refers to an external information provider that supplies verified data from outside the blockchain to smart contracts. Oracles play a crucial role in bridging the gap between on-chain and off-chain data, enabling smart contracts to access real-world information for execution. DIA's oracles ensure reliable and accurate price feeds for decentralized applications, empowering developers and users in the web3 space.
The use of DIA's FTM API and FTM Price Oracle offers several benefits for users in the blockchain ecosystem. With DIA's technology, users gain access to accurate and reliable price data for cryptocurrencies and NFTs. The main advantage lies in the high level of customization available, allowing each oracle and API endpoint to be tailored to suit specific application needs. This customization includes configuration settings such as data sources, data cleaning filters, pricing methodologies, and update mechanisms. By adapting to unique market conditions, DIA's solution provides both a global market and individual or cross-chain market prices.
Transparency is another major benefit of utilizing DIA's API and Oracle feeds. The platform ensures full transparency throughout the entire data journey, granting users a clear view of how the information is obtained and processed. In addition, DIA offers tracking and monitoring tools for close observation of their oracle and API feeds.
In summary, DIA's FTM API and FTM Price Oracle bring accurate and customizable price data to blockchain applications, ensuring robustness and resilience in dynamic market conditions. The solution's transparency and monitoring capabilities further enhance trust and confidence among users.