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## ما هي سينثيتكس (SNX)؟

سينثيتكس (Synthetix) عبارة عن بروتوكول تمويل لامركزي ([DeFi](https://coinmarketcap.com/defi/)) يوفر التعرض على السلسلة لمجموعة واسعة من الأصول المشفرة وغير المشفرة. يعتمد البروتوكول على سلسلة كتل إيثريوم ([ETH](https://coinmarketcap.com/ar/currencies/ethereum/)) ويوفر للمستخدمين الوصول إلى أصول سينثيتكس عالية السيولة (synths). حيث تقوم أصور (Synths) بتتبع وتوفير عوائد على الأصل الأساسي دون حاجة الشخص للاحتفاظ بالأصل نفسه.

وتهدف المنصة بذلك إلى توسيع نطاق العملات المشفرة من خلال توفير أصول من خارج سلسلة الكتل، وهو ما يتيح الوصول إلى سوق مالية أكثر قوة.

### من هم مؤسسو سينثيتكس؟

تم إطلاق الشبكة في سبتمبر 2017 من قبل كين وارويك تحت اسم هافن (HAV). ولم يمرّ سوى عام قبل أن تعيد الشركة تسمية نفسها إلى سينثيتكس (Synthetix).

كين وارويك هو مؤسس سينثيتكس ومدير غير تنفيذي في شبكة البيع بالتجزئة (Blueshyft). قبل تأسيس سينثيتكس، عملت وارويك في العديد من مشاريع العملة المشفرة الأخرى. كما أسس موقع باونسر (Pouncer)، وهو موقع مزادات مباشرة يعمل في أستراليا فقط.

من جهة أخرى، بيتر ماكين، الرئيس التنفيذي للمشروع، يمتلك أكثر من عقدين من الخبرة في تطوير البرمجيات. وقد عمل سابقاً كمبرمج في (ICL Fujitsu).

إضافة إلى جوردان ممتاز، مدير العمليات في سينثيتكس، هو إستراتيجي أعمال ومحلل سوق وقائد مبيعات يتمتع بعدة سنوات من الخبرة في مجال سلسلة الكتل والعملات المشفرة، والمدفوعات الرقمية، وأنظمة التجارة الإلكترونية.

ولديهم أيضاُ، جاستن ج. موسيس، كبير مسؤولي التكنولوجيا، وهو المدير السابق للهندسة في (MongoDB) ونائب رئيس الهندسة العملية في (Lab49). كان هو الآخر، شريكاً في تأسيس موقع باونسر (Pouncer) آنف الذكر.

### ما الذي يميّز سينثيتكس؟

سينثيتكس هي بورصة لا مركزية ([DEX](https://coinmarketcap.com/alexandria/article/what-are-decentralized-exchanges-dex)) ومنصة للأصول الهجينة. وتم تصميم البروتوكول بطريقة تمنح المستخدمين تعرّضاً للأصول الأساسية عبر أصول (Synths)، دون الحاجة إلى الاحتفاظ بالأصل الأساسي.

كما تسمح للمستخدمين بالتداول والتبادل بشكل مستقل. إضافة لذلك، تحتوي على مجموعة من مجمّعات السيولة، حيث يمكن لحاملي رموز (SNX) المشفّرة أن يقوموا بتخزينها مؤقتاً مقابل مكافأتهم بجزء من رسوم المعاملات على بورصة سينثيتكس.

تتعقب المنصة الأصول الأساسية باستخدام بروتوكولات تسليم سعر العقد الذكية التي تسمى "أوراكل". وتسمح سينثيتكس للمستخدمين بتداول الأصول الهجينة بسلاسة، دون مشاكل في السيولة/انزلاق السعر. كما أنها تلغي الحاجة إلى [الوسطاء](https://coinmarketcap.com/alexandria/article/what-is-a-dao).

يتم استخدم رموز (SNX) المشفّرة كضمان للأصول الهجينة التي يتم سكّها (ترميزها). أي كلما تم سكّ رمز مشفّر هجين، يتم قفل ما يعادل قيمته من رموز (SNX) المشفّرة في عقد ذكي.

بعد إطلاقه، انتقل البروتوكول إلى شبكة الطبقة الثانية (Optimistic Ethereum) للمساعدة في تقليل رسوم الغاز على الشبكة وتقليل زمن وصول أوراكل.

### كم عدد عملات سينثيتكس (SNX) الموجودة في التداول؟

يبلغ الحد الأقصى للمعروض من (SNX) سقف 212،424،133 عملة مشفرة، يوجد منها 114،841،533 SNX في التداول بحلول فبراير 2021.

في مراحل البيع الخاص والطرح الأولي للرموز المشفّرة، باعت سينثيتكس أكثر من 60 مليون رمز مشفّر وتمكنت من جمع 30 مليون دولار. ومن إجمالي 100،000،000 عملة تم إصدارها خلال الطرح الأولي للعملة، تم تخصيص 20% للفريق والمستشارين، و3% للمنح والحوافز التسويقية، و5% لحوافز الشراكة و12% للمؤسسة.

### كيف يتم تأمين شبكة سينثيتكس؟

يتوافق رمز (SNX) المشفّر مع معيار [ERC-20](https://coinmarketcap.com/alexandria/glossary/erc-20) الخاص بإيثريوم. وبالتالي يتم تأمين شبكة سينثيتكس من خلال آلية إجماع إثبات الحصة ([PoS](https://coinmarketcap.com/alexandria/article/proof-of-work-vs-proof-of-stake)). حيث يقوم حاملو سينثيتكس بوضع عملات (SNX) المشفّرة في [التخزين المؤقت](https://coinmarketcap.com/alexandria/article/what-is-staking) مقابل كسب عوائد من رسوم الشبكة.

وهناك طريقة أخرى لربح مكافآت (SNX)، وذلك من خلال مكافآت التضخم للبروتوكول، والمعروفة باسم مكافآت التخزين المؤقت.

### أين يمكنك شراء سينثيتكس (SNX)؟

يمكن شراء رموز (SNX) المشفّرة من منصات تبادل، مثل:

* [Binance](https://coinmarketcap.com/ar/exchanges/binance/)
* [OKEx](https://coinmarketcap.com/ar/exchanges/okex/)
* [Coinbase Pro](https://coinmarketcap.com/ar/exchanges/coinbase-pro/)
* [Uniswap (V2)](https://coinmarketcap.com/ar/exchanges/uniswap-v2/)

إذا كنت مهتماً بمعرفة المزيد حول كيفية شراء بيتكوين، فاقرأ الدليل الكامل من CoinMarketCap [هنا](https://coinmarketcap.com/how-to-buy-bitcoin/).

Synthetix

Ledger

Coinbase

Safepal

Trust Wallet

MetaMask

Binance Chain Wallet

SolFlare

Backpack

Phantom

Atomic wallet

Welcome to Synthetix's Community channel aggregated by CoinMarketCap.

Ethereum

Shiba Inu

Chainlink

UNUS SED LEO

Uniswap

Worldcoin

ApeCoin

AIOZ Network

Nexo

Decentraland

Axelar

MANTRA

Wormhole

Quant

The Sandbox

X2Y2

Mazze

DORK LORD

Apes Go Bananas

Derp

Aave

Maker (MKR) is the governance token of the MakerDAO and Maker Protocol — respectively a decentralized organization and a software platform, both based on the Ethereum blockchain — that allows users to issue and manage the DAI stablecoin.

Initially conceived in 2015 and fully launched in December 2017, Maker is a project whose task is to operate DAI, a community-managed decentralized cryptocurrency with a stable value soft-pegged to the US dollar.

MKR tokens act as a kind of voting share for the organization that manages DAI; while they do not pay dividends to their holders, they do give the holders voting rights over the development of Maker Protocol and are expected to appreciate in value in accordance with the success of DAI itself.

The Maker ecosystem is one of the earliest projects on the decentralized finance (DeFi) scene: the industry that seeks to build decentralized financial products on top of smart-contract-enabled blockchains, such as Ethereum.

Maker

Compound is a DeFi lending protocol that allows users to earn interest on their cryptocurrencies by depositing them into one of several pools supported by the platform.

To learn more about this project, check out our deep dive of Compound.

When a user deposits tokens to a Compound pool, they receive cTokens in return. These cTokens represent the individual’s stake in the pool and can be used to redeem the underlying cryptocurrency initially deposited into the pool at any time. For example, by depositing ETH into a pool, you will receive cETH in return. Over time, the exchange rate of these cTokens to the underlying asset increases, which means you can redeem them for more of the underlying asset than you initially put in — this is how the interest is distributed.

On the flip side, borrowers can take a secured loan from any Compound pool by depositing collateral. The maximum loan-to-value (LTV) ratio varies based on the collateral asset, but currently ranges from 50 to 75%. The interest rate paid varies by borrowed asset and borrowers can face automatic liquidation if their collateral falls below a specific maintenance threshold.

Since the launch of the Compound mainnet in September 2018, the platform has skyrocketed in popularity, and recently passed more than $800 million in total locked value.

Compound

The Graph is an indexing protocol for querying data for networks like Ethereum and IPFS, powering many applications in both DeFi and the broader Web3 ecosystem. Anyone can build and publish open APIs, called subgraphs, that applications can query using GraphQL to retrieve blockchain data. There is a hosted service in production that makes it easy for developers to get started building on The Graph and the decentralized network will be launching later this year. The Graph currently supports indexing data from Ethereum, IPFS and POA, with more networks coming soon.

To learn more about this project, check out our deep dive of The Graph.

To date, over3,000 subgraphs have been deployed by thousands of developers, for DApps like Uniswap, Synthetix, Aragon, AAVE, Gnosis, Balancer, Livepeer, DAOstack, Decentraland and many others. The Graph usage has been growing at over 50% MoM and hit over 7 billion queries during the month of September 2020.

The Graph has a global community, including over 200 Indexer Nodes in the testnet and more than 2,000 Curators in the Curator Program as of October 2020. To fund network development, The Graph raised funds from community members, strategic VCs and influential individuals in the blockchain community including Coinbase Ventures, DCG, Framework, ParaFi Capital, CoinFund, DTC, Multicoin, Reciprocal Ventures, SPC, Tally Capital and others. The Graph Foundation also successfully completed a public GRT Sale with participation from 99 countries (not including the U.S.). To date as of November 2020, The Graph has raised ~$25M.

The Graph

Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (DeFi) tokens.

An example of an automated market maker (AMM), Uniswap launched in November 2018, but has gained considerable popularity this year thanks to the DeFi phenomenon and associated surge in token trading.

Uniswap aims to keep token trading automated and completely open to anyone who holds tokens, while improving the efficiency of trading versus that on traditional exchanges.

Uniswap creates more efficiency by solving liquidity issues with automated solutions, avoiding the problems which plagued the first decentralized exchanges.

In September 2020, Uniswap went a step further by creating and awarding its own governance token, UNI, to past users of the protocol. This added both profitability potential and the ability for users to shape its future — an attractive aspect of decentralized entities.

Founded in 2017, Chainlink is a blockchain abstraction layer that enables universally connected smart contracts. Through a decentralized oracle network, Chainlink allows blockchains to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.

The Chainlink Network is driven by a large open-source community of data providers, node operators, smart contract developers, researchers, security auditors and more. The company focuses on ensuring that decentralized participation is guaranteed for all node operators and users looking to contribute to the network.

To learn more about this project, check out our deep dive of Chainlink.

Curve is a decentralized exchange for stablecoins that uses an automated market maker (AMM) to manage liquidity.

Launched in January 2020, Curve is now synonymous with the decentralized finance (DeFi) phenomenon, and has seen significant growth in the second half of 2020.

In August, Curve launched a decentralized autonomous organization (DAO), with CRV as its in-house token. The DAO uses Ethereum-based creation tool Aragon to connect multiple smart contracts used for users’ deposited liquidity. Issues such as governance, however, differ from Aragon in their weighting and other respects.

Curve DAO Token

THORChain is a decentralized liquidity protocol that allows users to easily exchange cryptocurrency assets across a range of networks including Bitcoin and Ethereum without losing full custody of their assets in the process.

With THORChain, users can simply swap one asset for another in a permissionless setting, without needing to rely on order books to source liquidity. Instead, market prices are maintained through the ratio of assets in a pool (see automated market maker.

The native utility token of the THORChain platform is RUNE. This is used as the base currency in the THORChain ecosystem and is also used for platform governance and security as part of THORChain's Sybil resistance mechanisms — since THORChain nodes must commit a minimum of 300k RUNE to participate in its rotating consensus process.

THORChain was funded through an initial DEX offering (IDO) which launched through the Binance DEX in July 2019. Its single-chain chaosnet launched in April 2021, the multi-chain upgrade was launched in April 2021 and Mainnet is now live as of Jun 2022..
Learn more here

THORChain

In a nutshell, Cosmos bills itself as a project that solves some of the “hardest problems” facing the blockchain industry. It aims to offer an antidote to “slow, expensive, unscalable and environmentally harmful” proof-of-work protocols, like those used by Bitcoin, by offering an ecosystem of connected blockchains.

The project’s other goals include making blockchain technology less complex and difficult for developers thanks to a modular framework that demystifies decentralized apps. Last but not least, an Interblockchain Communication protocol makes it easier for blockchain networks to communicate with each other — preventing fragmentation in the industry.

Cosmos’ origins can be dated back to 2014, when Tendermint, a core contributor to the network, was founded. In 2016, a white paper for Cosmos was published — and a token sale was held the following year. ATOM tokens are earned through a hybrid proof-of-stake algorithm, and they help to keep the Cosmos Hub, the project’s flagship blockchain, secure. This cryptocurrency also has a role in the network’s governance.

Cosmos

Theta Network

Stacks is a Bitcoin Layer for smart contracts; it enables smart contracts and decentralized applications to use Bitcoin as an asset and settle transactions on the Bitcoin blockchain.

Bitcoin is the largest, most valuable, and most durable decentralized asset. The Stacks layer unlocks $500B in BTC capital using the Bitcoin L1 as settlement for decentralized applications.

Stacks has knowledge of the full Bitcoin state, thanks to its Proof of Transfer consensus and Clarity language, enabling it to read from Bitcoin at any time.

All transactions on the Stacks layer are automatically hashed and settled on the Bitcoin L1. Stacks blocks are secured by 100% Bitcoin hashpower. In order to re-order Stacks blocks/transactions, an attacker would have to reorg Bitcoin.

Stacks

Filecoin is a decentralized storage system that aims to “store humanity’s most important information.” The project raised $205 million in an initial coin offering (ICO) in 2017, and initially planned a launch date for mid-2019. However, the launch date for the Filecoin mainnet was pushed back until block 148,888, which is expected in mid-October 2020.

The project was first described back in 2014 as an incentive layer for the Interplanetary File System (IPFS), a peer-to-peer storage network where users pay for data storage and distribution services in $FIL. Filecoin is open protocol and backed by a blockchain that records commitments made by the network’s participants, with transactions made using FIL, the blockchain’s native currency. The blockchain is based on both proof-of-replication and proof-of-spacetime.

Filecoin is open-source and decentralized, which means that all governance is in the hands of the community. On the Filecoin platform, developers have the opportunity to create cloud file storage services like Dropbox or iCloud. Anyone can join Filecoin and start storing their data or earn money by providing space for someone else's funds. The creators of Filecoin opted for their blockchain technology to run the network and their token with their own consensus.

$FIL is the native currency of Filecoin that powers the entire network and all processes. Clients pay for transactions in FIL tokens. Miners place FIL as collateral, guaranteeing their services.

The developers claim that Filecoin solves the problem of inefficient file storage and retrieval. Customers can find the right solution with an efficient set of tools and its core development, IPFS.

Filecoin

MultiversX is a blockchain protocol that offers true horizontal scalability by using all aspects of sharding (Network, Transaction & State). The project describes itself as a technology ecosystem for the new internet, which includes decentralized finance, real world assets and the Metaverse. Its smart contracts execution platform is reportedly capable of up to 100,000 transactions per second, 6-second latency and a $0.002 transaction cost.

MultiversX is governed and secured through the EGLD token. EGLD, or Electronic Gold, is MultiversX's native token. It acts as a store of value currency to pay for network usage. The coin also serves as a medium of exchange between platform users and validators. Users pay transaction fees in EGLD and validators participate in the consensus process.

EGLD allows developers to deploy smart contracts, protocols, and dApps on the platform. It empowers participants to perform any network action. Through staking and validation rewards, as well as transaction fees, EGLD manages the MultiversX network. Plus, EGLD is endowed with the functionality of a governance token, so its holders can vote on network decisions.

MultiversX

Enjin Coin is a project of Enjin, a company that provides an ecosystem of interconnected, blockchain-based gaming products. Enjin's flagship offering is the Enjin Network, a social gaming platform through which users can create websites and clans, chat, and host virtual item stores.

Enjin allows game developers to tokenize in-game items on the Ethereum blockchain. It uses Enjin Coin, an ERC-20 token, to back the digital assets issued using its platform, meaning that items can be bought, sold and traded with real-world value.

Enjin Coin was first announced in July 2017, and it launched on the Ethereum mainnet in June 2018.

Enjin Coin (ENJ) is a digital store of value used to back the value of blockchain assets like non-fungible tokens (NFTs).
Every asset minted with the Enjin Platform contains ENJ, a minting resource which is locked inside NFTs and removed from circulation. Minting blockchain assets with ENJ provides a variety of benefits to creators and users:

Infuses them with a reserve value

Ensures their transparency and scarcity

Gives them instant liquidity

Provides utility in games and apps

Anti-inflationary

Enjin's "melting" functionality allows users to destroy their blockchain assets at any time to retrieve the ENJ value from within.

The Enjin blockchain ecosystem aims to offer software products that make it easy for everyone to develop, trade, monetize, and market with blockchain.

Founded in 2009, Enjin has roots in the gaming industry, with the company’s first product, a gaming community platform called the Enjin Network, growing to 20 million users over the course of a decade.

In 2017 following an ICO, Enjin established itself as a leading blockchain ecosystem developer, building a suite of software products that enable anyone to easily mint, manage, trade, distribute, and integrate blockchain assets.

Enjin’s co-founder Witek Radomski wrote the code for one of the first ever non-fungible tokens (NFTs) and is also the co-author of the ERC-1155 Ethereum token standard.

Built on top of an on-chain infrastructure, the Enjin ecosystem enables game developers and businesses of all sizes to use tokenized digital assets as part of their acquisition, retention, engagement, and monetization strategies. The Enjin ecosystem is fueled by Enjin Coin (ENJ), a cryptocurrency used to back the value of blockchain assets.

Enjin Coin

Chiliz is the leading digital currency for sports and entertainment by the eponymous Malta-based FinTech provider. It operates the blockchain-based sports entertainment platform Socios, which enables users to participate in the governance of their favorite sports brands. Multiple fan tokens by Socios.com are an example of that. For sports clubs and associations, fan tokens offer a way of connecting with their fans and unlocking new revenue streams.

For instance, fans can participate and influence club-related decisions through surveys and polls, such as messages the captain should wear on his armband. The company aims to bridge the gap between being an active and a passive fan. Chiliz has developed partnerships with some of the biggest sporting institutions in the world: FC Barcelona, Manchester City, Juventus Turin, and Paris Saint-Germain. It also boasts partnerships with the UFC and gaming organizations. By purchasing CHZ, fans get access to various fan tokens and literally have a stake in their club.

Chiliz

Lido DAO is a decentralized autonomous organization (DAO) which provides staking infrastructure for multiple blockchain networks.

Most notably, the platform provides a liquid staking solution for Ethereum, allowing users to stake their ETH and receive stETH (Lido staked ETH) tokens in exchange, which represent the user's staked ETH and staking rewards.

Lido DAO is secured by a mix of decentralized governance, audited code and smart contracts. The Lido protocol runs on Ethereum with help from smart contracts that process user deposits and distribute staking rewards, among other functions. Several third-party security firms have audited Lido’s smart contracts in order to identify and address potential vulnerabilities.

The platform’s native token is LDO - which also serves as the governance token for Lido DAO. Holders can participate in governance proposals and vote on key decisions such as board adjustments, new integrations and platform updates. LDO holders have the right to determine the development and operation of the platform.

Lido currently supports staking for Ethereum and Polygon only with the recent sunsetting of Solana.

Lido DAO

Tezos is a high-performing blockchain and open-source platform for assets and applications, with a strong focus on code security, on-chain governance, and decentralization. Tezos 2.0, the upcoming step in the evolution of Tezos, aims to improve scalability (via layer 2s), composability, and to implement support to mainstream programming languages (like Javascript, Typescript, Python, and many others).

Initially built with formal verification in mind, the Tezos protocol enables builders to avoid bugs when developing smart contracts, making it particularly suited to applications that require a high degree of security and certainty.

Tezos’ LPoS (Liquid Proof-of-Stake) consensus mechanism enables any stakeholder to take part, directly or by delegation, in the consensus process, and to be rewarded for securing the network. Rather uniquely, Tezos’ on-chain governance system also enables stakeholders to create and vote on protocol upgrade proposals. This pioneering system allows the protocol to self-amend and upgrade itself without leading to a split (or fork) in the blockchain, empowering the community without slowing down innovation.

First proposed in 2014 and launched in 2018, the Tezos Mainnet has a proven track record of running uninterrupted ever since, having earned a strong reputation for technical excellence and a supportive community.

Tezos

Injective is a blockchain built for finance. It is an open, interoperable layer-one blockchain powering next-generation DeFi applications, including decentralized spot and derivatives exchanges, prediction markets, lending protocols and more.

Injective uniquely provides powerful core financial infrastructure primitives that applications can leverage, including a fully decentralized MEV-resistant on-chain orderbook. In addition, all forms of financial markets such as spot, perpetual, futures and options are fully on-chain. The decentralized cross-chain bridging infrastructure is compatible with Ethereum, IBC-enabled blockchains, and non EVM chains such as Solana.

Injective also provides a next-generation, highly interoperable smart contract platform based on CosmWasm, with advanced interchain capabilities. Injective is custom built with the Cosmos SDK and utilizes Tendermint-based Proof-of-Stake consensus mechanism, providing instant transaction finality with the ability to sustain lightning-fast performance (10,000+ TPS).

The Injective ecosystem includes 100+ projects and over 150,000 community members globally. Injective is backed by a group of prominent investors such as Binance, Pantera Capital, Jump Crypto and Mark Cuban.

Injective’s core exchange module provides state-of-the-art capabilities including an advanced on-chain order book and matching engine for spot, perpetual, futures and options markets, resistance to Miner-Extractable Value (MEV) through frequent batch auction order matching, and zero gas fees for users.

Injective natively uses IBC and is highly-interoperable with multiple layer 1s, including, but not limited to, Polygon and Solana (through an upcoming Wormhole integration). It is also uniquely built to be interoperable with Ethereum, through its own decentralized ERC-20 token bridge, making Injective the first network within the Cosmos ecosystem to natively support Ethereum assets.

Smart contracts are implemented on Injective through CosmWasm, allowing for multi-chain smart contract transactions to occur seamlessly. Injective, however, is the only blockchain that enables automatic smart contract execution. This capability serves as a powerful building block for developers to create novel use cases that would not be possible on any other chain.

The use cases intended for INJ include but are not limited to: protocol governance, dApp value capture, Proof-of-Stake (PoS) security, developer incentives and staking. Further details regarding each of these use cases can be found below:

Protocol Governance: The INJ token governs every single component of Injective, including chain upgrades. Since its mainnet launch, the Injective community has actively contributed to governance, with all proposals passing through a DAO governance vote. The comprehensive governance page is available here.

Protocol Fee Value Capture: 60% of all fees generated from dApps enter an on-chain buy-back-and-burn auction to maintain the deflationary nature of INJ. The burn auction page is available here.

Tendermint-based Proof-of-Stake (PoS) Security: INJ is used to secure the Injective blockchain using a proof-of-stake mechanism. Validators and delegators can both participate in staking.

Developer Incentives: 40% of fees generated by users on dApps built on Injective go directly towards incentivizing new developers building on Injective which brings an ever growing funnel of builders to Injective.

Injective

Fantom is a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using its own bespoke consensus algorithm.

Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms, specifically transaction speed, which developers say they have reduced to under two seconds.

The Fantom Foundation, which oversees the Fantom product offering, was originally created in 2018, with the launch of OPERA, Fantom’s mainnet, coming in December 2019.

Fantom is an open-source decentralized smart contract platform for DApps and digital assets that was created as an alternative to Ethereum. Fantom has the goal of overcoming the limitations of previous generation blockchains and balancing three components: scalability, security and decentralization. The project offers a set of tools to simplify the process of integrating existing DApps, as well as a detailed staking reward system and built-in DeFi instruments.

Fantom is a Layer-1 blockchain that uses a scratch-built consensus mechanism and independent consensus layer, Lachesis, to facilitate DeFi and related services on the basis of smart contracts. Lachesis provides security for other layers as well, including Opera, Fantom's EVM-compatible smart contract chain. The long-playing mission of the project is to “grant compatibility between all transaction bodies around the world.”

One of Fantom's key strengths is its performance and efficient transaction processing, namely thousands of transactions per second, where transactions are settled in 1-2 seconds, and the cost is fractions of a cent per transaction. As a result, Fantom provides higher scalability but at a lower cost.

The ecosystem is based on two main technologies: Lachesis protocol and Opera.

The Lachesis protocol is the core consensus layer that secures the Fantom network by providing both transaction speed and security.

Lachesis is an aBFT consensus engine that uses a directed acyclic graph (DAG) algorithm. How it works: network data can be processed at different times, and the network filters the participants, allowing only one third, which are allocated due to erroneous or malicious behavior, without compromising network processes.

Fantom's Asynchronous Byzantine Fault Tolerant (aBFT) Proof-of-Stake (PoS) consensus mechanism maintains the efficiency of the entire network, its design provides security at maximum speed. Fantom developers emphasize that the PoS mechanism is a leaderless phenomenon — there are no leaders of blocks and participants, and anyone can join (or leave) the network of nodes at a convenient moment.

The key qualities of Lachesis are: asynchronous, leaderless, Byzantine fault-tolerant, and near-instant finality.

As for Opera, it's an application development layer or Fantom's mainnet deployment platform, permissionless and open-source hosting DApps. Thanks to EVM integration and support for the Solidity programming language, Fantom has a full set of smart contract capabilities, which allows users to seamlessly interact with Ethereum platforms while maintaining the advantage of Fantom's transaction efficiency.

The Fantom Foundation concluded that removing block leaders improves network security, so Opera uses a PoS model and leaderless validators (validators do not determine which blocks are valid).

In addition to being a fast, secure and cheap payment platform that enables to make fast and secure payments at minimal cost, Fantom also features on-chain governance where users vote with FTM tokens (one token equals one vote). Of the features: users have the right to express the degree of agreement / disagreement on a scale from 0 to 4.

FTM is the native utility in-house PoS token of Fantom that powers the ecosystem and is applied for payments, network fees, staking, and governance. FTM forms the backbone of transactions, and allows fee collection and staking activities, along with the user rewards the latter represents.

Fantom

Avalanche is a layer one blockchain that functions as a platform for decentralized applications and custom blockchain networks. It is one of Ethereum’s rivals, aiming to unseat Ethereum as the most popular blockchain for smart contracts. It aims to do so by having a higher transaction output of up to 6,500 transactions per second while not compromising scalability.

This is made possible by Avalanche’s unique architecture. The Avalanche network consists of three individual blockchains: the X-Chain, C-Chain and P-Chain. Each chain has a distinct purpose, which is radically different from the approach Bitcoin and Ethereum use, namely having all nodes validate all transactions. Avalanche blockchains even use different consensus mechanisms based on their use cases.

After its mainnet launch in 2020, Avalanche has worked on developing its own ecosystem of DApps and DeFi. Different Ethereum-based projects such as SushiSwap and TrueUSD have integrated with Avalanche. Furthermore, the platform is constantly working on improving interoperability between its own ecosystem and Ethereum, like through the development of bridges.