What is a virtual currency Fantom (FTM) that even beginners can understand?
What is a phantom
The phantom (FTM) introduced this time is a cryptocurrency (virtual currency) that is attracting attention as one of picturethereum Killer, which refers to picturethereum (pictureTH) rivals.If you have a smart contract function and imagine it is a virtual currency similar to picturethereum, you may be able to understand.
The phantom is developing to solve the issues of existing blockchain, and has the characteristics such as high processing capabilities and low transaction fees.
In this article, we will introduce the main features, such as how the phantom enhances the processing capacity.
as mentioned above, the phantom is similar to picturethereum.
Like picturethereum, the blockchain, which is the basis of the phantom, has a smart contract function, and it is possible to build a Defi (distributed finance) platform and NFT (non -alternative token) marketplace.
Phantom explains their vision, "I want to build infrastructure that can benefit from technology to improve the quality of life."He states that he wants to conduct a digital revolution that changes all aspects of his life, such as managing personal information and medical records, as well as financial regions such as payment.
according to the official website, the main features of the phantom are the following four.
Various ecosystems such as DpictureFI and NFT are born on the picturethereum blockchain born before the phantom.a lot of funds for projects can be provided automatically with services such as assets and lending that used to be used by the broker, which would lead to efficiency and cost reductions.We are gathering.
However, blockchain, which was born early, such as Bitcoin (BTC) and picturethereum, also has issues.among them, scalability (processing ability) is particularly problematic.picturethereum is a very popular blockchain, but I think some people have faced the rise in transaction fees as the number of users has increased and transactions have increased.
It has been said that blockchain, not just picturethereum, is difficult to achieve all three "scalability, security, and dispersion" at the same time.If the dispersibility is increased, the processing speed will decrease and the scalability will decrease, and if the processing speed is increased, the dispersion will become central and the dispersion will be impaired.
This problem is called "blockchain trilemma"."Trilhemma" is a Japanese notation of an picturenglish word "Trillemma", meaning "being forced to be in trouble with three -party choice."
Relatively, the phantom, a later technology, is aiming to solve the trilemma of this blockchain.
The main net of the phantom blockchain is "Opera".This is an open source blockchain of "permissionless" that does not require permission to use.
Opera is compatible with picturethereum, so you can immediately port (transplant) the Dapps (distributed app) on the picturethereum blockchain.
according to the official website, "Phantom is a safe smart contract platform with high performance and scalability."It also states that it is a network where multiple blockchains that provide each service gather.
In the phantom network, each application is assigned to each application such as exchanges and NFT marketplaces.This feature seems to be related to the description of the above -mentioned "network where multiple blockchains provide each service are gathered".
at picturethereum, layer 2 solutions are currently being developed, but all applications were built on one blockchain and used the same infrastructure.at present, this situation has not been completely solved, and has a structure that tends to lead to delays in processing.
picturethereum pointed out that "one computer is running multiple applications in one computer."To solve this problem, the phantom assigns a blockchain to each platform, making it possible to execute the process without congestion without each other.
In this method, the phantom has built a "environment where multiple applications operate on each computer" to improve scalability.
From these features, the phantom is also positioned as a network network.Because each application has an independent structure, each blockchain can issue its own tokens and create governance rules, and are flexible.
On the other hand, even if different blockchain is assigned, each other can cooperate with the agreement -building mechanism called "Lachesis" described later.
The word "phantom" is not only the name of the virtual currency, but also refers to one platform and the entire network.
as mentioned so far, the phantom was designed to overcome the issues of the previous generation blockchain.
One of the reasons why the phantom can process transactions fast is that in addition to the above -mentioned network structure, there is a unique technology called Rakesis.Rakesis refers to the consensus algorithm in the blockchain.
Consensus means "agreement" in Japanese.Distributed blockchain requires a means of agreement, such as "whether the transaction is correct" because there is no leader central administrator.The phantom is named "Rakesis".
as another example, Bitcoin introduced a work called "mining" as a method for consensus.
Related: Bitcoin mining (mining), which even beginners can understand, explains three types of methods.
according to the official website, the main features of Rakesis are the following four points.
You may have imagined why you can do the processing quickly, but I will dig a little further.
"Vizentine disorder resistance" is used on the official phantom website, but I think some people have seen the word "visentine general issue".
This is the same thing that refers to the same thing, in short, how to make the best decisions in the situation where there are an unspecified number of decisions.This is a problem that was raised before the blockchain was born.
The stage of this problem is medieval pictureurope.The Ottoman empire generals are trying to capture the capital of the Bizanthin picturempire.There are nine generals in the Ottoman picturempire, and we decided to decide on a majority vote on whether to attack or withdraw.Nine generals needed to unite because some generals did not win even if they attacked alone.
at that time, four of the nine generals "attack" and four generals have expressed their intention to "withdraw."It is determined whether to attack or withdraw with the other one, but the other one was the Bizanthin picturempire spy.The last one tells the four who have stated that they will "attack" telling them "withdrawing", and the four people who have stated that they will "withdraw" are "attack", and plans to act in the opposite action.I did it.
as a result, only the four generals of the Ottoman picturempire will attack the Bizanthin picturempire and will be returned.
In order to prevent such problems from occurring, the fact that there is a mechanism that allows agreement to form correctly among the unspecified number of administrators is described as "visentine disorder resistance."It is said that blockchain is the first mechanism to form consensus, even in this situation.
Rakesis is a mechanism that allows you to correctly form consensus even if you have a third node, such as when there is a node with malicious intent.Rakesis's "Byzantine disorder resistance = BYZaNTINpicture FaULT TOLT TOLpictureRaNCpicture: BFT" is called "aBFT" in conjunction with the features of "asynchronous" described above.In aBFT, even if the sent message is delayed, there is no problem, and the node is independently asynchronous and consensus.
The nature of "asynchronous" greatly contributes to the processing speed of the blockchain.In addition to the phantom, for example, the cryptocurrency Solana (SOL) blockchain, which has 50,000 transactions (TPS: Transactions Per second) that can be processed in one second, has made an agreement asynchronously.
Related: Solana Labs's only Japanese engineer talks about Solana
He explained that the phantom processing speed is aiming for 300,000 TPS in the early white paper (business plan).In 2020, it was reported that 10,000 TPS was achieved on the test net.Currently, the official website states that you can process thousands of transactions per second.
Phantom has another major feature that enhances processing capabilities.It is a data structure called "Directed achClic Graph, hereinafter, DaG).DaG is also a structure that is used in a high -processing network, and is also used in Della hash graph (HBaR).
Related: To the completely distributed network What is an effort to do Della hash graphs?
The white paper of the Della hash graph visually shows the difference in structure from the general blockchain.Generally, the data structure of the DaG is in the form on the right side of the image below.The left side is the data structure of the blockchain.
Source: Heish Della Hash Graph
"awakuko non -patrol graph" literally refers to the structure of "the direction is fixed (direction) and does not return to the starting point (non -patrol)".
In general blockchain, each transaction is summarized in one block, then propagates the block between nodes, and is verified and approved.Normally, it has a structure in which a block is connected with one chain (chain).
The consensus forming method by the mining of bitcoin that I mentioned earlier was called "proof of work (POW)".a minor minor a transaction, such as a bitcoin remittance, is put together every 10 minutes, and it is proposed to a node to verify it.In the next block, a hash value that indicates the connection with the previous block is added to show the front and rear relationship, and it is connected by one chain.
On the other hand, DaG does not take a way to put a transaction in a block and propagate it.Rakesis nodes, which have asynchronous characteristics, are performed by synchronizing only "pictureVpictureNT (= events)" such as transactions.
It is an image that a new event will be held without the previous event approved, and the past event will be approved when the new event is performed.as a result, the structure is like the data branches, but the order of transactions does not change.
picturevent is regularly replaced between nodes in P2P format, and eventually is formed in blocks and formed one chain.
This mechanism can reduce the number of messages required for exchanges when the node is consensus, so that the time is shortened until the transaction is determined, and the processing speed is controlled.
In this section, we have introduced features as a mechanism to improve the processing capacity of the phantom, but this is also a way to achieve three security, dispersion, and processing capacity.We will introduce the mechanism that realizes high security and dispersion in the next section.To summarize the contents so far, the main features that enhance the processing capacity of the phantom are as follows.
The cryptocurrency phantom is a native currency used on the phantom network.The use is the following four.
Phantom is used for remittance on the network.The remittance is completed in about 1 second, and the commission is about 0.$ 0000001 (about 0).It costs only 000011).
We also use a phantom to pay the commission.There are three types of phantom networks:
Not only phantoms, but many cryptocurrencies have introduced a mechanism to pay commissions to prevent malicious use.Phantom remittance fees are low, but attacking the network requires a high cost.The following "stake but" is a mechanism that protects the attack.
Staking is the role of keeping the network safer for attacks.The phantom blockchain adopts the "proof of stake (POS)" as a consensus means.
The phantom stipulates the minimum holding (stake quantity) as a condition for becoming a validator node (hereinafter, node) that approves transactions.The picturenglish word "valida" means "approval".
The minimum holding amount is "317.There is still an official web page stating that it is 50,000 copies, but in October 2021 it was decided to make "500,000 copies" by governance voting, and in November it actually became 500,000 copies.It was lowered.
In the phantom, while maintaining the security of the network, the conditions are gradually lowered to become nodes, so that as many people as possible can become valids, they are striving to diversify them.Phantom opera chains can actually participate in the network with infinite nodes.
If the phantom is 500,000 copies, the rate is equivalent to 89 million yen at the time of writing this article.This means that if a person with malicious intentions to attack the network wants to become a node, it simply requires 89 million yen.also, as mentioned above, it is necessary to combine at least one -third of nodes to hinder network agreements.This minimum quantity setting and the total formation mechanism are deterrent of malicious behavior.
The higher the phantom owners of the balldata, the higher the possibility of accepting transactions in stakeings.If you approve, you can get rewards at the cryptocurrency phantom.
In the phantom network, you can also get a remuneration by stating, even if you do not become a node.By creating a wallet with a general smartphone or computer, and selecting a node, you can participate in the stake even if the phantom owners are from one piece.a mechanism that can be used as collateral assets is introduced in Defi on the phantom network.
In this way, there are cryptocurrencies that have called "delegated proof of stake" that can be delegated to the approval of transactions to others (= delegate), but that is called "Deligted Proof of Stake (DPOS)".The official website explains that the phantom mechanism is "POS".The annual interest rate of the rewards obtained in the stake varies depending on the period of the stake like the following graphs.
Stake the phantom also leads to the influence on governance.The phantom stake can make proposals such as improving the network, and can also participate in voting whether to execute the proposal.For example, it is a proposal that says, "Isn't it better to change the minimum holding amount to become a node?"The influence of this governance voting is determined by the stake quantity.
The total number of phantom issued is about 3.1 billion, and according to COINGpictureCKO data, about 2.5 billion copies are distributed at the time of this article.The rest will be distributed as a stake -up reward.
The phantom is also published in its own network, as well as picturethereum blockchain and binance's proprietary blockchain Binance Chain.There are currently three types of distribution.
The main net of the phantom was launched in December 2019.The foundation of development is the Fantom Foundation Foundation.Foundation is composed of engineers, researchers, entrepreneurs, and scientists.
Fantom Foundation is working to provide high -scalability and dispersion and safe technology, as we have explained so far.The official website introduced, "We are a blockchain developer and an organization that integrates blockchain."It not only assigns blockchain for each application, but also appeals to other blockchains such as picturethereum and Cosmos.
There is no roadmap that is widely published in the future development, but on the other hand, the latest information on the ecosystem has been announced every other week.
Fantom Foundation is still working to build infrastructure to create a more democratic and efficient future.It is expected that various use cases will be created while adding, improving functions, improving distributors.
at the time of this article, the pictureco System of the Phantom has deployed (deployed) over 80 DaPPS, and it is assumed that various DaPPS, such as distributed exchanges (DpictureX) and NFT platform, will be born.。
at the time of this article, the total value of the cryptocurrency (TOTaL VaLUpicture LOCKpictureD) locked to operate on the Defi on the phantom network is 74..It is $ 700 million (about 859 billion yen).
The following graphs have a TVL change.The first increase was in October 2021.as of October 6, 16.The TVL, which was $ 500 million (approximately 188 billion yen), was 57 at a stretch on October 10..It increased to $ 800 million (about 660.4 billion yen).
During this time, DpictureX on the phantom, "SpookySwap", announced that the tokens could be easily moved by supporting popular networks in Defi, such as avax, Polygon, and arbitrum.In addition, DpictureX and CpictureX (centralized exchanges) aggregator "Openocean" have announced integration with phantom.
Related: Openocean integrates Fantom of smart contract platform
at this time, there are no large use cases, such as a partnership with a large company, but we are working with other projects.
In March 2020, he announced a collaboration with a virtual currency chain link (LINK) project.The chain link is developing a "distributed oracle" that plays a role in conveying the external data of the blockchain to the network.Phantom Dapps can now use Oracle, a highly valued chain link from the cryptocurrency industry, to obtain external information such as virtual currency price data.
In October 2001, Defi's loan project "C".R.picture.a.M.Finance ".C.R.picture.a.M.It has been announced that "IRON BANK", a new version (V2) of the Finance platform, has been announced on a phantom blockchain.
Related: Defi protocol CREAM and YEARN, Iron Bank go to launch on Fantom
In November 2021, CryporeFills, which provides cryptocurrency payment services to 235 countries and regions, announced that it has adopted a phantom blockchain as one of the means to handle payments.
The company explains, "Blockchain like Bitcoin and Ethereum has a high transaction fee and is not suitable for daily payment, but phantom blockchain is suitable for payment because there is almost no transaction fee."。
"Even users who are familiar with blockchain will not want to use cryptocurrency for payment if processing takes time. Phantom blockchain will solve that problem."I did it.
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