When it comes to Fantom, there is a lot of confusion about what it is and how it relates to Ethereum. Fantom is often referred to as “Ethereum’s killer” or “the next Ethereum.” So, is Fantom Ethereum?
The answer is both yes and no. Fantom is built on top of the Ethereum network and utilizes Ethereum’s smart contract functionality.
However, Fantom is its own independent blockchain with its own native token, FTM.
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Fantom was created with the goal of becoming the world’s first “Smart Contract Platform as a Service (SCaaS).” Fantom aims to provide a more scalable, user-friendly, and efficient platform for developing and deploying decentralized applications (dApps).
One of the key features that sets Fantom apart from Ethereum is its use of a Directed Acyclic Graph (DAG) data structure. This data structure allows for parallel processing of transactions, which improves scalability.
Fantom also has plans to launch its own mainnet in the near future. Once launched, Fantom will be fully compatible with Ethereum’s existing ecosystem of dApps, wallets, and exchanges.
So, in conclusion, while Fantom is not currently Ethereum, it is built on top of Ethereum and aims to improve upon Ethereum’s shortcomings. Only time will tell if Fantom will be successful in its mission to become the world’s leading smart contract platform.
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