Audit Date: 27 September 2022
ECOSYSTEM SCORE
27 September 2022
78
ALERTS
Sep 19, 2022

Service CoinGecko API seems has been resolved on 17 Sep

Sep 19, 2022

Service CoinGecko API seems to be down on 17 Sep

Aug 30, 2022

Service CoinGecko API incident has been resolved

Aug 30, 2022

Service CoinGecko API seems to be down

Aug 22, 2022

Service CoinGecko API incident has been resolved on 21 Aug

Aug 22, 2022

Service CoinGecko API seems to be down on 21 Aug

Aug 10, 2022

Service CoinGecko API seems to be down

Aug 10, 2022

Service CoinGecko API incident has been resolved

Aug 01, 2022

Service CoinGecko API issue is resolved

Aug 01, 2022

Service CoinGecko API seems to be down

REVIEW NOTES
Jun 22, 2022

Protocol Support score increased due to Email, Chat support and Ticketing System.

Jun 22, 2022

Third-party service score has increased due to Oracle Integration, Managed API and Cloud Provider.

Jun 22, 2022

Add-Ons score increased due to availability of Dao.

PERFORMANCE
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80
NODES

71 nodes

WRITE SPEED

1 ms

READ SPEED

2,079 ms

GAS FEES

272,092 gwei

UP TIME

125%

PERFORMANCE MATRIX VALUE MONITORED AT
Read Speed 2,079 ms
Gas Fee 272,092 gwei
Write Speed 1 ms
Uptime Percentage 125%
Node Count 71 nodes
Reddit Total Members Online 288 members
Reddit Total Members 38,100 members
Discord Total Subscribers Online 3,619 subscribers
Discord Total Subscribers 21,489 subscribers
Telegram Err 0 err
Telegram Ppm 0 ppm
Telegram Views Per Post 0 views
Telegram Total Subscribers Online 10,000,000,000 subscribers
Telegram Total Subscribers 28,062 subscribers
FOUNDATION TOOLS
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52
ESSENTIAL TOOLS
PROGRAMMING LANGUAGE SUPPORT
SDKs
DOCUMENTATION
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100
API DOCUMENTATION

Exists

100
NODE SETUP

Exists

100
SKELETON CODE

Exists

100
VALIDATOR NODES

Exists

100
GRANT PROGRAM
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0
AVAILABLE GRANT

N/A

ADD-ONS
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73
THIRD PARTY SERVICES
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100
PROTOCOL SUPPORT
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100
ADOPTION
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100
DEVELOPERS

2,592

REPOSITORIES

180

COMMUNITY
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100

Overview

An efficient decentralized solution should be able to suffice three main components of blockchain technology, namely: scalability, security and decentralization; also known as the blockchain trilemma. Bitcoin for instance focuses on security and decentralization but is not preferable for fast confirmation speed to process the transactions, day-to-day asset transfer and trading.

Most importantly, the legacy financial systems whose processes take place in the back-end need fast block finality and high throughput.

To manage and monitor these problems fundamentally, Fantom is one of the robust protocols with a high-speed consensus mechanism that gives allows transactions to function at a fast speed without compromising on security and decentralization along with scalability.

About Fantom

Fantom network is a high-performance, EVM-compatible, scalable, secure and smart contract compatible platform. Its mainnet deployment, known as the Fantom Opera, is developed on the Fantom’s consensus algorithm Lachesis. This network is an asynchronous, leaderless and byzantine fault-tolerant (BFT) Layer 1 blockchain network.

It is one of the many blockchain networks designed to provide a substitute for Ethereum. Fantom aims to provide increased scalability and low transaction costs in comparison to Ethereum 1.0 iteration. One of the most unique attributes of the Fantom crypto platform is that its users can develop and deploy their independent networks by not relying completely on the Fantom’s core consensus layer. Every decentralized application built on Fantom can function on its own distinctive blockchain network.

Fantom’s architecture

Fantom has a modular architecture that gives permission for complete customization of blockchain networks in regards to the digital assets, with dynamic attributes altered as per the various use cases. It is a parent network that has various child networks within its architecture and ecosystem that hosts and regulates various dynamic dApps.

With aBFT and PoS consensus algorithm, Fantom’s operational efficiency is intact with high speed and the security also increases exponentially. It has various fundamental components like:

  1. Fantom mainnet: Opera
  2. Fantom staking
  3. FTM token
  4. fUSD stablecoin
  5. fSwap trading platform
  6. fLend liquidity pool

Fantom’s consensus algorithm

Fantom provides an increased level of security with the help of a leaderless Proof-of-Stake consensus algorithm to secure the blockchain network. It's Asynchronous BFT consensus named the Lachesis holds the potential to scale to various nodes worldwide in an open environment and permissionless way with a high level of decentralization. It does not function as per delegated Proof-of-Stake and has no such concept of any masternode on the network.

Key features of Fantom

  1. Open-source network
  2. Encourages ope-participation
  3. Has a network-based stablecoin: fUSD
  4. Smart contract capable
  5. Has a liquidity pool: fLend
  6. Modular architecture based on aBFT consensus with high scalability

Founder of Fantom

Michael Kong

Popular use cases of Fantom

  1. SpookySwap DEX
  2. ParaSwap DEX
  3. ChainPort cross-chain bridge
  4. Xpollinate cross-chain bridge