You must have heard of the Fantom Virtual Machine (FVM) one way or the other, but you may not know what it really is about and how important it may be.
In this thread, you will get to understand everything about FVM.
Walk with me.
A thread 🧵
In this thread, you will get to understand everything about FVM.
Walk with me.
A thread 🧵
The aim of Decentralized Finance is to bring decentralization, scalability and security to our finance system.
Blockchain systems have often traded one for another, but #Fantom says its goal is to achieve all three at the same time.
Blockchain systems have often traded one for another, but #Fantom says its goal is to achieve all three at the same time.
Fantom is a Layer 1 solution built on the Ethereum Virtual Machine.
It is known for its high speed of processing transactions (scalability), and Fantom has always tried not to sacrifice Decentralization and Security for Scalability.
It is known for its high speed of processing transactions (scalability), and Fantom has always tried not to sacrifice Decentralization and Security for Scalability.
According to @FantomFDN, The Fantom Virtual Machine (FVM) is the upgrade that will replace the EVM and increase the speed of execution on Fantom.
The fact that the current $Fantom release uses the Ethereum technology, including virtual machine and storage make it difficult to achieve the kind of scalability they want to achieve.
This is why a testing framework called AIda was carried out to figure out how to solve this.
This is why a testing framework called AIda was carried out to figure out how to solve this.
The Fantom virtual machine will replace the EVM and bring about faster transaction execution speed on Fantom, and in my opinion, it is really going to be a game changer for #Fantom and the blockchain industry.
The @FantomFDN also mentioned that developers shouldn't worry about the upcoming upgrade as FVM will be fully solidity and Vyper compatible, so they can still use their normal development tools.
An experiment was carried out to test the speed and storage usage of the new FVM, in this experiment, significant changes were seen in the speed of transactions processed per second, averaging up to 4500.
This 8.1x faster and the blocks also used 98% less storage.
This 8.1x faster and the blocks also used 98% less storage.
This transaction speed could mean processing approximately 400 million transactions per day, and four times the daily amount of transactions processed by VISA in the US daily.
Conclusion:
The Fantom virtual machine will be something significant and will bring about more adoption of blockchain generally.
The fact that it will bring about more scalability, decentralization and security also is awesome.
The Fantom virtual machine will be something significant and will bring about more adoption of blockchain generally.
The fact that it will bring about more scalability, decentralization and security also is awesome.
Some accounts to follow to get real-time updates on the Fantom ecosystem:
@FantomFDN
@AndreCronjeTech
@juanaxyz00
@FantomFDN
@AndreCronjeTech
@juanaxyz00
If you find this insightful, kindly give it a like and a retweet, also give me a follow @Fembros1 to learn more about this amazing world of decentralized finance.
Tagging some Gigerbrains:
@Only1temmy
@DeFi_Finest
@DeFi_Creed
@ernestxavier_
@Oozor_M
@Officialhomie_
@iamzubbyx
@Only1temmy
@DeFi_Finest
@DeFi_Creed
@ernestxavier_
@Oozor_M
@Officialhomie_
@iamzubbyx
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