Fantom is a high-performance, scalable, and secure smart-contract platform designed to overcome limitations of previous-generation blockchains. It uses an aBFT consensus called Lachesis that enables low time-to-finality (around 1 second), EVM compatibility, and cross-chain interoperability so developers can port Ethereum-based apps quickly. Transactions on Fantom complete within about 1 second and cost only a fraction of a cent. The project is fully permissionless, decentralized, open-source, and its code is available on GitHub, with the foundation emphasizing transparency. A recent platform update, Go-Opera, improved time-to-finality, tripled P2P synchronization speed, and made node synchronization more efficient. Fantom positions itself for a wide range of use cases—payments, secure storage of sensitive records, supply-chain tracking—and says it will continue developing to remain fast, transparent, and secure. FANTOM is a DAG-based smart contract platform that aims to deliver near-instant, low-cost cryptocurrency transactions by dramatically increasing throughput. The project claims its protocol can process up to 300,000 transactions per second, far above many existing blockchains and traditional payment networks. FANTOM emphasizes decentralization and intends to enable everyday cryptocurrency use across consumers and businesses. The team is pursuing strategic partnerships and deployments across sectors including e-commerce, IoT, food tech, telecom, banking and financial services, insurance, electricity, and real estate. Major strategic partners named in the announcement include the Korea Food-Tech Association, Oracle, and SBCK (a SoftBank Korea subsidiary). To fund development, FANTOM raised $40 million from a group of strategic partners and investors.

Total raised

$55M

Funding rounds

2

Latest round

Equity

Latest activity

Apr 2021