Assets, Ethereum

How Is Fantom Different From Ethereum?

Fantom is a distributed ledger technology (DLT) platform that is scalable, secure, and lightning fast. The Fantom Foundation’s vision is to build the world’s first DAG-based smart contract platform that solves the issues of scalability, speed, and cost associated with current blockchain technologies.

Fantom uses a unique consensus mechanism called the Opera Chain, which is based on Directed Acyclic Graphs (DAGs). This allows for near-instant transaction speeds and high scalability.

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is also a public blockchain network, meaning that anyone can download the software and start mining Ether, the network’s native cryptocurrency. Ethereum has many features that make it unique and different from other blockchain platforms.

One of these features is its Turing-complete programming language, which allows developers to build decentralized applications (dApps) with complex logic. Another key difference between Ethereum and other blockchains is its use of gas, a unit of measure that “fuel” every action on the network.

NOTE: Warning: Fantom is a different blockchain network from Ethereum, and it is not compatible with Ethereum. It is important to understand the differences between these two networks before attempting to use either of them for any transactions. Furthermore, Ethereum and Fantom both have their own native tokens and these tokens are not interchangeable. Therefore, please ensure that you understand the differences between these two platforms before using either one.

So how is Fantom different from Ethereum?

While both platforms are based on DLT technology and allow for the development of dApps, there are several key differences between Fantom and Ethereum. Perhaps the most significant difference is that Fantom uses a DAG-based consensus mechanism called Opera Chain, which allows for near-instant transaction speeds and high scalability.

Additionally, Fantom does not use gas like Ethereum does; instead, it has its own native currency called FTM. And finally, while Ethereum uses a Turing-complete programming language, Fantom uses a more user-friendly programming language called Solidity that is specifically tailored for smart contract development.

In conclusion, while both Fantom and Ethereum offer unique advantages and features, Fantom’s use of DAG technology gives it an edge in terms of speed and scalability. Additionally, Fantom’s native currency (FTM) and user-friendly programming language (Solidity) make it more accessible and easier to use than Ethereum for many people.

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