Daily Archives: November 17, 2020

This piece was written and submitted by @LordFantomian – Help support community members by giving him a follow on twitter!

What does it do?

According to their website;

“Fantom is a high-performance, scalable, customizable, and secure smart-contract platform. It is designed to overcome the limitations of previous generation blockchain platforms. Fantom is permissionless, decentralized, and open-source.

Lachesis, its revolutionary aBFT consensus mechanism, allows Fantom to be much faster and cheaper than older technologies, yet extremely secure. Instead of centralizing all computing power and usage on a single decentralized ledger, the users of the Fantom ecosystem can deploy their own independent networks.”

Essentially Fantom can operate as the IT infrastructure of Smart City applications such as public utilities, government services, traffic management, telecommunications, as well as smart homes, healthcare, education, resource management and environmental management. They are set up for applications that require high volumes of data to be collected, stored and secured at a fast speed.

Where does FTM come into it?

The token is used for a few purposes:

• • • Securing the network (via stake)
    • On-chain governance (by stakers)
    • Network fees
    • fMINT (to mint fUSD)
    • Liquidity provider (for fUNI and fSWAP)

Fantom Foundation Ecosystem/Partners

The technology behind FTM … Read the rest

What does it do?

According to the V-ID website;

“The VIDT API enables organizations to protect their digital data against fraud and manipulation. A simple but strong formula, that adds and protects value at minimum expense and effort. Our mission is to safely certify and secure all digital assets, so fraud and errors no longer hold back society’s innovations in digitalization.”

So how does V-ID do this?

“V-ID provides a service that detects any unlawful manipulation of any digital file. In order to make files verifiable, they must be validated. V-ID’s validation process involves extracting the fingerprints of files and saving them in the blockchain. If a file is changed with just one byte, pixel, character or anything else, the fingerprint is changed and V-ID will detect it 100%.”

Where does VIDT come into it?

Per the V-ID website;

“VIDT Datalink (VIDT) is what makes validations possible. V-ID appoints wallets to issuing organizations containing a balance of VIDT.

Every time an organization validates a file a VIDT transaction is made which records all necessary details (filetype, validation location, timestamp, identity). The VIDT token used in the transaction will be reducted from the validating organization’s wallet.”

V-ID … Read the rest