If you want to understand Fantom Wallet and other components of Fantom, you need to pay attention to how it works. Fantom, like any other distributed ledger technology, can help create a decentralized platform for different use cases. Fantom does not use blockchain, but uses directed acyclic graph or DAG. Therefore, Fantom can ensure better flexibility and speed than its peers in blockchain. Through the following four points, Xiaobian will take you to understand the technology and working principle of phantom.

1、 Phantom chain

The biggest difference between Fantom and other layer 1 blockchain implementations is that it uses DAG. With regard to blockchain, the first thing you think of is the data block associated with the previous data block and the remaining data blocks. If you think of the Fantom blockchain, it must be connected by an unbreakable chain. An unbreakable chain records all transactions on the relevant network. However, the first layer or mainnet deployment of Fantom, namely Fantom Opera, works as directed acyclic graph or DAG.

DAG basically includes a tree of nodes and vertices, similar to blocks in a blockchain. Vertices or nodes are connected with each other through one or more edges, similar to the encrypted association between blocks in the blockchain. Fantom adopts a design that avoids the classic blockchain structure. Each vertex or node in Fantom is actually a block, which is characterized by a collection of transactions used in the network. Because of the asynchronous operation of the network, network gamblers can generate new transactions at any time.

Fantom allows flexibility in associating transaction blocks to one or more vertices. Therefore, Fantom FTM network can display a well-defined cross link structure in the form of DAG. The cross link structure helps to quickly and securely create a seamless document for each event on the network. The transaction confirmation time is about 1 second. Fantom Opera chain is the basic technology for Fantom operation. Users can explore mainnet deployment through the network's block browser. Use high-quality resources tailored by industry experts, and start learning blockchain through the first blockchain skill path!

2、 Lachesis

When you view the deviation from blockchain to DAG in Fantom, you also need to consider the difference of consensus protocols. Fantom relies on aBFT or asynchronous Byzantine fault-tolerant protocol, which is called Lachesis. Key features of Lachesis include:

1. Asynchronous Byzantine fault-tolerant features help Fantom support up to one-third of malicious or bad nodes.

2. The non leadership trait is an important highlight because it shows how any single participant has no special contribution to block production.

3. On average, the confirmation of a transaction takes about 1 to 2 seconds to ensure almost instant certainty.

4. Fantom encryption network emphasizes asynchronous Lachesis consensus, so as to provide better flexibility for participants to process commands.

Most importantly, Fantom has successfully used Lachesis to flexibly extend functionality to other layers. In the long run, Fantom's future will mainly involve the collection of different blockchain layers, while Lachesis is still the core. By using the Lachesis consensus protocol, Fantom can help ensure that Opera features provide EVM compatibility.

The following are important steps to define how Fantom uses the Lachesis operation overview.

1. The first step starts from the node synchronization process.

2. Subsequently, the implementation of the random node selection algorithm can help start the process of creating the next block.

3. After the selection process, communication between the selected nodes starts immediately.

4. The selected node synchronizes with the Fantom open chain and ensures the execution of the block creation and information verification process.

5. The block must now be broadcast to all selected nodes associated with the network.

6. The general consensus process on the network starts from verifying the authenticity of new blocks. After the block is validated, it will be integrated into a valid DAG.

7. The process restarts again to create another block.

Fantom blockchain or DAG operation can help allow any number of participants to join the system. Lachesis also improves efficiency through better bandwidth usage, transaction finalization, scalability, security, and computing power.

3、 Lamport

Fantom price evaluation technology also includes highlights of Lamport. This is a time system that helps synchronize all nodes and ensures that all nodes work within a common time frame. Lamport can help determine the time sequence between blocks in asynchronous distributed systems. Lamport is an integral part of Fantom's network functions, because it helps to organize network efficiency. At the same time, it can also prevent Byzantine failures, and has made great improvements in security.

4、 FTM Token

The importance of the Fantom token in the Fantom ecosystem is definitely one of the most important highlights you should not miss. FTM tokens are basically local tokens of Fantom network, and they all conform to ERC-20 and BEP-20 standards. FTM tokens can be used to pay commissions to support online transactions, thus ensuring economic incentives for verifiers. The verifier can use Fantom wallet to participate in the chain governance of Fantom network.

summary

To sum up, it is an overview of the operation principle and the technology behind the phantom. The FTM token was specifically mentioned above. The overview of Fantom's work shows how FTM tokens help different participants in the network work on nodes in the network. Most importantly, users can pay the necessary commissions to use the participants' resources in the proof of interest algorithm. FTM token is also a tool for financial transactions between different parties. Like the Fantom token, the new Layer 1 implementation also has some other network underlying components.