Fantom is a new DAG based Smart Contract platform that intends to solve the scalability issues of existing public distributed ledger technologies. The platform intends to distinguish itself from the traditional block ledger-based storage infrastructure by attempting to employ an improved version of existing DAG-based pro-tocols.
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- What is Fantom Opera Chain?
- How was Fantom launched?
- Who is the Team behind Fantom?
- How to stake Fantom?
- How much can I earn staking Fantom?
- What are the requirements for staking Fantom?
- Is there a risk to stake Fantom?
Opera is the implementation of Fantom’s Lachesis Consensus protocol with full Ethereum Virtual Machine (EVM) support. This means users have the ability to run smart contracts on top of a DAG-based, asynchronous Byzantine Fault Tolerance (aBFT). The real benefit is lower time-to-finality (the time it takes to confirm transactions) and a higher rate of transactions-per-second than synchronous networks such as Ethereum.
Fantom completed it’s ICO in June 2018. Since then, we have focused a lot on the research and development of an aBFT consensus engine called “Lachesis”, and use cases for it. Two platforms we have created with it have been the Xar Network for Defi applications, and the Opera Chain, for smart contract support.
The team has a strong technical background in networking, distributed systems, and application development, as well as strong marketing and experience in Finance. The current team can be found here.
Staking on Fantom is easy to begin with and simply requires a simple transaction inside the official Fantom Wallet.
For a tutorial on how to use the Fantom Wallet for staking please check the links at the bottom of this page.
The individual reward depends on the Total Staked %.
Transactions are packaged into event blocks. In order for event blocks to achieve finality, event blocks are passed between validators nodes that represent at least 2/3rds of the total validating power of the network. A validator’s total validating power is primarily determine by the number of tokens staked and delegated to it. A validator earns rewards each epoch for each event block signed according to it’s validating power.
Each second 6 FTM is accrued and being distributed each epoch across validators that have signed event blocks.
By delegating you can increase the share of your validator proportionally to the balance of your account. He will receive rewards accordingly and share them with you after taking the commission.
In our Staking Calculator you can play with the above mentioned metrics to understand the dynamics and create all kinds of reward scenarios.
If you are a validator node, it is running a suitable validator that maintains close to 100% up time, and can validator blocks fast. The user running the validator node will also need to maintain a minimum stake of 3,175,000 FTM.
If you are delegating to a validator node, you need maintain a stake of at least 1 FTM.
There are few risks. If you are running your own validating node, you need to ensure it is always online validating blocks, otherwise you will earn rewards. You also need to make sure it does not attempt to fork or double-sign transactions, as that could have it labelled as a cheater (with slashes your stake and reduces your rewards).
If you are delegating, you need to ensure the validator node you are delegate to is trustworthly. Although a validator cannot steal your staked tokens, if the validator is found to be a cheater, your stake is also at risk.