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What Is Fantom Protocol?

By R23 | Supportive Crypto Community | 17 Feb 2022



 

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Yesterday on Publish0x, the tips for FARM were replaced by Statera.

According to their website, Statera "is a smart contract powered Indexed Deflationary Ecosystem, which synergizes with a trustless and community-driven portfolio of class-leading cryptocurrencies."

In other words, this token creates deflation within liquidity pools to provide more arbitrage opportunities and thus increases volume as those gaps are filled by traders and bots.

It is powered by the Fantom network, but here is a bit about Statera before moving onto that:

Now lets talk about the network that is powering this project, the Fantom Protocol:

Here is an overview from Messari:

"Fantom is a Layer-1 blockchain that uses a single consensus layer to support the creation of multiple execution chains. The network's independent consensus layer called Lachesis, featuring a novel consensus mechanism developed by the Fantom Foundation dubbed the "Lachesis Protocol." Lachesis can provide security to multiple other layers, the first of which is Fantom's EVM-compatible smart contract chain called Opera. The project's goal is to host an ecosystem of execution layers while enabling them to feature fast and cost-efficient transactions due to the benefits provided by the Lachesis Protocol."

Essentially Fantom is another DeFi ecosystem that is seeking to reduce fees by using this multi-layer approach. Will it work? I have no clue, but I am interested in finding out more as the governance token is trading for just under $2 currently.

If anyone has some good references for Fantom, I would love to check them out and dive deeper. The swaps and projects that I see right now look interesting, but they don't seem to have a lot of traction as an ecosystem. It seems to be a promising protocol and I'm happy to be exploring it with the new tipping token from Publish0x.

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Who I am:
My name is Rob and I am a prospective law student with interests in cryptocurrency and blockchain. I have enjoyed my time thus far engaging with Web 3.0 and am looking to continue learning more and sharing what I learn through my experience

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R23
R23

A new cryptocurrency investor looking to learn as much as possible about smart contracts and coding!


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