Fantom (FTM) announces the launch of first public testnet

Fantom (FTM) is the world’s first DAG based smart contract platform that solves the issue of scalability and confirmation time of the existing blockchain technology.

On December 27, the Fantom team announced the launch of first public testnet (version 0.4.5-rc.1).

“The testnet represents a major milestone in our goal of having a Fantom mainnet prepared as early as possible in 2019”, – writes the team.

The release consists of the following:

  • Public Testnet

With nodes initially running on AWS instances. The testnet is based on the Go implementation of Lachesis.

  • go-evm

Go implementation of the EVM, allowing for the execution of smart contracts

  • Documentation

Which includes how to setup a node on Windows, Mac or Linux and API usage, among many other things.

  • Mobile wallet

Available on iOS and Android

  • Web wallet

Built in ReactJS

  • Desktop wallet

Releases available on OSX, Windows and Linux

  • Explorer

Track event block production and transactions

Additionally, the Fantom team aims to achieve the following in future testnet and mainnet releases:

  • A fast implementation of Lachesis, with a high number of Transactions per Second (TPS) while maintaining a low Time to Finality (TTF)
  • Verifiable computing engines, consisting of:
  1. A compiler
  2. A register-based virtual machine
  3. Verifiable circuits
  4. Pairing Cryptography for Verified Computing
  5. Threshold EDCSA & DCRM, required for cross-chain dex
  6. Sharded consensus
  7. Verified computing NIZKP
  • A Proof of Stake model, likely to consist of a combination of a gas-based transaction payments (similar to Ethereum), a transaction-staking model, and Dapp-based staking rewards.

All necessary links to GitHub are available in the Fantom announcement.

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