Fantom Dedicated Node

The Fantom network is designed to perform blockchain smart contracts as well as to build web3 apps and dApps based on them. FTM tokens are used in the Fantom network. A type of Proof-of-Stake (PoS) algorithm is used to validate transactions. This means that Fantom mining is not possible. Instead, FTM tokens are earned in other ways. Financial incentives are provided for those who transfer their coins to Fantom nodes for stacking. Coins can be blocked for different periods of time, with a maximum blocking period of 1 year. Also, the participants of the token stacking take part in the voting, which determines the ways of further development of the Fantom network. In this way, the FTM token becomes a governance token as well. For FTM coin stacking, it is sufficient to use Fantom client. The minimum amount that can be deposited in the staking to receive rewards and vote is only 1 FTM.

The Fantom algorithm is a blockchain that uses one of the PoS varieties. The Fantom network also uses the Lachesis consensus mechanism that allows Fantom nodes to synchronously process transactions even if the nodes are located in different time zones. This improves the performance and scalability of the Fantom network. Presently, transactions between Fantom nodes take not more than 2 seconds and speed of the Fantom network exceeds 1,000 transactions per second. At the same time the fee is only $0.0000001. This figure is not achievable for most cryptocurrencies.

In order for a full FTM node to perform the task of maintaining the network, it needs to have a deposit in FTM tokens in a special wallet. This measure indirectly contributes to Fantom price as FTM tokens are temporarily withdrawn from circulation. There are no leaders among Fantom nodes, no specialized roles and no nodes with higher priority in transaction processing. This indicates that the FTM network is highly decentralized.

In addition, each Fantom node records transactions in chronological order using Directed Acyclic Graph (DAG) technology. FTM nodes only occasionally exchange information with each other, allowing the Fantom network to process data quickly and with virtually no noticeable network commissions. Next, we look at how blockchain smart contracts are performed in the Fantom network. The FTM network is fully capable of running blockchain smart contracts, as well as building web3 apps and dApps based on them. Please note that dApps in the FTM network are compatible with the Ethereum virtual machine and they use the Solidity programming language, which is used to write blockchain smart contracts in the Ethereum network.

Developers of blockchain smart contracts and also web3 apps and dApps for the FTM network can't do without Fantom dedicated nodes. Since working in the Fantom network poses a risk of losing money, so developers first test the FTM testnet functionality of their blockchain smart contracts. The FTM testnet and FTM mainnet settings are almost identical, except for the parameters of the nodes to which they connect. Developers of blockchain smart contracts as well as web3 apps and dApps can use the powerful Fantom API. Its commands include WebSockets blockchain API, JSON RPC blockchain API, blockchain endpoints and more.

Fantom's compatibility with the Cosmos SDK and Cosmos EVM opens up the possibility of interoperability between different blockchains. Since setting up and configuring a Fantom dedicated node (Fantom dedicated server) even for an experienced developer would be extremely complicated, FTM blockchain node as a service is a good alternative. This is a great opportunity to unlock the full potential of Fantom network for creating blockchain smart contracts as well as web3 apps and dApps.