How does a DAG work? What does aBFT mean?
Explained: Fantom’s Consensus-as-a-service [Video]
Providing a scalable and fast consensus layer for blockchains and DLTs
Are blockchains ready for adoption?
Blockchain projects are currently facing two major challenges that hinder adoption — transaction throughput and finality.
Fantom provides scalable and fast consensus-as-a-service for blockchains to help tackle these obstacles.
Blockchain layers
In general, the blockchain stack consists of layers for networking, consensus, sybil control (e.g. PoW, PoS) as well as middleware and applications. Fantom focuses on creating the best solution for the networking and consensus layer — how nodes communicate with each other and approve transactions. It is open-source, so everyone can use and benefit from it. Fantom is also compatible with the Cosmos SDK which allows for interoperability across ecosystems using IBC. Ethereum Virtual Machine is supported natively, so dApps can be seamlessly ported from the Ethereum platform and run smart contracts on Fantom.
Fantom’s aBFT consensus
Let’s look at the approach Fantom takes to build consensus. Fantom employs a gossip-based DAG architecture called Lachesis as well as middleware named TxFlow. In a DAG, transactions do not have to wait until a block is created. Instead, each transaction is propagated through the network and gets approved instantly. Rather than validating transactions in a linear way, block after block, multiple transactions can be verified simultaneously. This has the advantage of increasing throughput.
On the flipside, DAGs often encounter the issue of communication overhead. It takes several rounds of messages between nodes, which increases the time that is needed until a transaction can be considered final. Fantom only requires one round as it stores shared information in a so-called flag table.
With Lachesis and TxFlow, Fantom achieves asynchronous Byzantine Fault Tolerance, or aBFT in short, for high throughput and fast verification. aBFT can even achieve consensus when some messages are delayed or do not make it to the intended recipients. Even better: Fantom’s consensus is permissionless and leaderless. Nodes can join and leave the network freely without breaking consensus and have equal say. No participant plays a special role.
How does this translate into numbers? Fantom’s DAG-based design with smart contract functionality can reach a throughput of 40k+ transactions per second and transaction finality in under 0.7 seconds
Fantom employs an additional mechanism for scalability. Projects employ their own chains with distinct sets of validators. Not only does this prevent transactions from clogging up the network, it also allows to completely customize the consensus module.
Fantom is developing a scalable and secure consensus component for blockchains with the goal of bringing the industry forward on its path to adoption
👇
Where to find out more about Fantom:
https://twitter.com/FantomFDN
https://t.me/Fantom_English
