How does the Fantom project aim to solve the scalability issues in the cryptocurrency industry?

3 answers

• Mohammad Zikri Hayat AzmiJun 26, 2021 · 4 years ago
  The Fantom project aims to tackle the scalability issues in the cryptocurrency industry by utilizing a directed acyclic graph (DAG) consensus mechanism. This allows for parallel processing of transactions, resulting in faster confirmation times and increased throughput. Additionally, Fantom implements a unique consensus algorithm called Lachesis, which enables high scalability and low latency. By leveraging these technologies, Fantom aims to provide a scalable and efficient platform for decentralized applications and transactions in the cryptocurrency industry.
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• José Edmilson de Andrade FilhoMay 21, 2024 · 2 years ago
  Fantom's approach to solving scalability issues in the cryptocurrency industry involves the use of a DAG-based consensus mechanism. This allows for the simultaneous processing of multiple transactions, increasing the overall throughput of the network. By utilizing this technology, Fantom aims to address the scalability challenges faced by cryptocurrencies, such as slow transaction times and high fees. With its innovative consensus algorithm, Fantom provides a solution that can handle a large number of transactions in a secure and efficient manner.
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• McGee BridgesAug 09, 2022 · 3 years ago
  The Fantom project is focused on solving the scalability issues in the cryptocurrency industry by implementing a DAG-based consensus mechanism. This approach allows for faster transaction confirmation times and increased scalability compared to traditional blockchain architectures. With its unique consensus algorithm, Fantom aims to provide a platform that can handle a high volume of transactions without sacrificing security or decentralization. By addressing the scalability challenges, Fantom aims to create a more efficient and user-friendly environment for cryptocurrency transactions.
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