The Fantom blockchain is a decentralized, permissionless blockchain that has a leaderless PoS consensus algorithm. PoS requires that you stake your coins to validate blocks, but with a leaderless system, there is no block leader or special role. This helps to prevent centralization while allowing for high transaction speeds and security. The Fantom blockchain is composed of several decentralised blockchains that communicate with each other and interact with each other.
Fantom blockchains run on the Lachesis PoS consensus protocol, which provides security and speed. In addition, Fantom’s design supports a variety of decentralized applications. These blockchains are compatible with common programming languages and can interact with each other. This gives developers and users a variety of options for implementing their applications.
The Fantom network uses Directed Acyclic Graphs (DAGs) to record the chronology of transactions and event blocks. Each node in the network reaches internal consensus independently, and each batch is combined into a final block that forms the base layer of the Fantom blockchain.
The Fantom blockchain is compatible with the Ethereum virtual machine, making it easy to migrate applications from Ethereum to Fantom. The EVM supports both ERC-20 and BEP-20 tokens.