What Is Lachesis (Fantom)?

Lachesis (Fantom) is a distributed ledger technology platform that enables businesses to build and deploy decentralized applications. It uses an innovative consensus algorithm called Proof-of-Stake Resource Allocation (PoSRA), which allows for faster transaction speeds, scalability, and security. The platform also provides tools for developers to create smart contracts and other blockchain solutions. Lachesis has been designed with the goal of providing a secure, reliable, and efficient infrastructure for enterprise applications on the blockchain.

The Fantom Foundation developed Lachesis as part of its mission to provide an open source protocol layer that can be used by any organization or individual in order to develop their own custom blockchains without having to rely on existing ones such as Ethereum or Bitcoin. This makes it easier for companies who want to use blockchain technology but don’t have the resources or expertise necessary to do so from scratch. Additionally, because it is built using PoSRA instead of traditional proof-of-work algorithms like those found in Bitcoin, transactions are much faster than they would be otherwise while still maintaining high levels of security and reliability.

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