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Fantom is the native token of the Fantom Foundation’s technology. Dubbed the Korean EOS, Fantom’s technology is the world’s first Directed Acyclic Graph (DAG) based smart contract platform designed to solve some of the key problems with scaling distributed ledger technologies. Using their OPERA software, Fantom claims it is able to handle up to 30,000 transactions per second.

Partnered with POSBANK, the leading POS provider in Korea, Fantom aims to introduce smart contract payments at 5,000 restaurants in Korea. Fantom CEO Dr. Ahn Byung Ik is widely renowned in Korea as the President of the Korea FoodTech Association, an organization of over 90 food tech companies. With partners such as the multi-billion dollar Danish company, Danfoss, and Ethereum Classic Labs, Fantom’s technology looks to disrupt the existing payments industry.

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What makes Fantom unique

First cryptocurrency

Smart contract platform

Global value network

30,000 transactions per second

Small supply

On-chain voting

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Description

Fantom is the native token of the Fantom Foundation’s technology. Dubbed the Korean EOS, Fantom’s technology is the world’s first Directed Acyclic Graph (DAG) based smart contract platform designed to solve some of the key problems with scaling distributed ledger technologies. Using their OPERA software, Fantom claims it is able to handle up to 30,000 transactions per second. Partnered with POSBANK, the leading POS provider in Korea, Fantom aims to introduce smart contract payments at 5,000 restaurants in Korea.

Fantom CEO Dr. Ahn Byung Ik is widely renowned in Korea as the President of the Korea FoodTech Association, an organization of over 90 food tech companies. With partners such as the multi-billion dollar Danish company, Danfoss, and Ethereum Classic Labs, Fantom’s technology looks to disrupt the existing payments industry.

History:

The Fantom Foundation is creating a new method for maintaining consensus that utilizes a Directed Acyclic Graph (DAG). The proposed consensus mechanism has the ability to process transaction throughput at a quicker pace than most existing blockchains. This protocol is aiming to be developed on the Fantom OPERA Chain. This will enable applications to implement instant transactions with near-zero transaction fees.

The Fantom Foundation wants to apply this development to various industries that include, supply chain management, payment processing, smart city programs, food tech, and more. In May of 2019, the Fantom Foundation began working on a multi-asset and cross-chain ecosystem that can support interoperability with dozens of blockchains.

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