RedStone Integration with Fantom

Published on: 07.12.2022
RedStone Integration with Fantom

RedStone Integration with Fantom, RedStone delivers frequently updated, reliable and diverse data for your dApp and smart contracts.

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. As RedStone announced its Integration with Fantom Network.

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.

The Integration

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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About Fantom

Fantom (FTM) is a smart contract platform for digital assets and DApps designed to overcome the limitations of the previous-generation blockchain networks facing the blockchain “trilemma.” The platform can execute multiple blocks simultaneously using its unique asynchronous byzantine fault tolerance consensus algorithm. FTM is the native utility PoS token of Fantom powering the ecosystem. It is applied for payments, network fees, staking, and governance.

­Website | Twitter

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About RedStone

RedStone looks to mitigate the presented issues faced by blockchain projects by offering flexible and affordable oracle solutions. The ecosystem has changed dramatically over the last months and current DeFi protocols require more data delivered at lower latency; RedStone offers a radically different design of Oracles catering for the needs of modern Defi protocols.

­Website | Twitter

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SOURCE: REDSTONE BLOG
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