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#RedStonePowered ep.6: Fantom

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We are excited to announce that Fantom is now #RedStonePowered! ♦️⚡

If you want to build a data-powered dApp on this EVM-compatible, fast and secure chain, look no further. We now provide the necessary data for all your applications’ oracle needs!

What is Fantom?

Fantom is a high-performance, scalable, EVM-compatible and secure smart-contract platform. Fantom’s mainnet deployment—Fantom Opera—is built on Fantom’s consensus mechanism, Lachesis. Fantom is a leaderless, asynchronous, and byzantine fault-tolerant Layer 1 blockchain protocol. Lachesis enables Fantom to deliver fast transaction speeds, low transaction costs and deterministic finality. This is achieved while remaining permissionless, decentralized and open-source.

Advantages of Fantom

  • Speed – Fantom achieves transactions finality in 1 second on average.
  • Scalability – Fantom can process thousands of transactions per second and can scale to hundreds of nodes.
  • Security – Lachesis provides institutional-grade security to distributed networks. Fantom offers absolute finality, which means that transactions can never be reverted like in networks with probabilistic finality. Fantom is also leaderless. By removing leaders, security doesn’t rely on a small set of actors.
  • Smart contract support – Fantom is fully compatible with Ethereum. Developers can create and deploy smart contracts as they would on Ethereum.
  • Consensus-as-a-service – Lachesis can be used to create any kind of private and public distributed ledger, using EVM or Cosmos SDK.

Cooperation with RedStone

Fantom is a well-known L1, its thriving ecosystem was definitely one of the fastest growing during this cycle. Since there are a lot of innovations happening there, with a massive amount of Builders in the space choosing Fantom as a go-to solution, found it obvious to integrate with this chain to support its growth! 

RedStone now provides the Fantom Community with a cutting-edge oracle solution for the applications in this thriving ecosystem. Builders can now access reliable Data Feeds for 1100+ assets covering cryptocurrencies, NFTs, equities, commodities, on-chain reputation, and much more. We are also ready to provide custom Data Feeds tailored to the applications’ needs. Non-standard data is our specialty and we enable Fantom Builders to leverage it to the fullest. All of that will enable them to create real business use cases simply not possible before due to the lack of necessary data.

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