Composable Integrates Fantom into its Mosaic PoC Bridge
Disclaimer: Information as of Oct 22, 2021. For the most recent updates, dive into our comprehensive documentation here.
Composable is pleased to announce the integration of the Fantom scaling solution into our Mosaic PoC Bridge. This integration is an advancement in our endeavour to build a truly scalable and interoperable solution within the DeFi landscape.
The Fantom Advantage
Fantom is a network of interconnected computers designed to meticulously resolve the weak points of other Layer 1 blockchain protocols. Most blockchain networks lack sufficient security, speed, or scalability. The Fantom solution ensures these core blockchain functionalities are optimally met.
Fantom utilizes Direct Acyclic Graphs (DAGs) to execute smart contracts instead of the typical blockchain protocols of other distributed ledger technologies. DAG functions as an infinite network of computers (nodes) that circulate, transmit, and share data with one another. These computers also agree on the ledger consensus. Each network in Fantom can be customized for specific purposes, which allows developers to create real-world applications such as payments networks and central bank digital currency (CBDC). Notable projects on Fantom include Spookyswap, Curve, and SCREAM.
Fantom is known for its ultra-fast finality (usually between 1–2 seconds) compared to other networks like Bitcoin, which takes between 30 minutes to 1 hour to verify transactions. It also has a high transaction throughput and handles about 4500 transactions per second with a transaction fee that costs less than a cent.
Fantom has been dubbed “Ethereum on steroids”. It uses a unique Proof-of-Stake consensus mechanism called Lachesis, and it is highly compatible with the Ethereum Virtual Machine (EVM).
More about this Integration
Presently, we have successfully integrated with Arbitrium, the Ethereum mainnet, Avalanche C-Chain, Polygon and Moonriver. Adding Fantom to our list widens the scope of our interoperable capacity and cross-chain reach.
By combining Fantom’s scalability solution with our cross-layer, cross-chain interoperability solution, we are further expanding the capabilities of DeFi by enabling cross-ecosystem liquidity. We are able to increase cross-chain and cross-layer transaction speeds and simultaneously reduce transaction costs to cents without compromising the security users.
Mosaic’s Benefit
This integration directly improves the cross-layer asset transferral solution of Mosaic. Transactions can be carried out across different layers at reduced costs and improved speed. This is an addition to the already existential benefits of instant cross-chain and cross-layer scalability that you currently enjoy on Mosaic.
Overall, our goal at Composable Finance is to enhance the global DeFI experience by improving interoperability, and adding Fantom to Mosaic is one more step in the right direction towards a cohesive DeFI landscape.
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