Introduction to FON smart chain

FON Smart Chain (referred to as FSC or FONChain smart chain), FON smart chain is a brand new public chain.

The FON Smart Chain relies on a system of 21 active validators with proof-of-stake (APoS) consensus that supports short block times and low fees. The validator candidate with the most stakes will become the validator and produce blocks. Double signature detection and other slashing logic ensure security, stability and chain finality. In addition to the 21 active validators, FSC will also introduce more validators, such as another 20 inactive validators, as backups into the validator set, which will be called "candidates."

Candidates will create obstacles and charge gas fees in the FSC Mainnet, but have much less chance of being elected than the 21 sets of formal validators. Unavailable candidates will also be cut, albeit to a smaller extent. It is expected that good incentives will be maintained so that candidate validators are willing to ensure quality and help secure the FSC. In the extreme case, if the majority of the 21 active validators are attacked and go offline, in the genesis block, the team set A node to ensure the normal operation of the public chain. The FON smart chain also supports EVM-compatible smart contracts and protocols. Cross-chain transfers and other communications are possible thanks to native support for interoperability.

Self-sovereign blockchain: providing security and fairness through elected validators.

EVM-comp supports all existing Ethereum tools as well as faster finality and cheaper transactions.

Interoperable: comes with efficient native dual-chain communication; optimized for high-performance Dapps that require a fast and smooth user experience.

Distributed on-chain governance: Proof of Stake (APoS) brings decentralization and community participation.

As a native token, FON will serve as gas for smart contract execution and as a token for staking.

motivation

The creation and development process of FON Smart Chain has experienced many challenges. FSC is a blockchain ecosystem led by a global distributed autonomous community. Many users in the community are based on consensus DeFi decentralization, from the TRON network to the FSC network. After years of accumulation of DeFi consensus, we jointly created an independent, high-speed, high-throughput, service-oriented public chain through DAO governance voting. FSC has been online since October 22, 2022, and has experienced a year of stable network block production. It is known as: the most active blockchain in the global community (currently there are nearly 1.8 million FON currency holding addresses), and the world's almost completely decentralized blockchain. Blockchain (all FON native coins are 100% circulated, no additional issuance, no reservation), is also the most transparent public chain in the world with the fastest growth rate.

Cross-chain and multi-chain ecosystem​

An important lesson to learn from historical data is that “one chain” cannot cover all angles. At its peak, FSC’s daily active users (DAU) exceeded 2 million, and a single GameFi reached 1 million DAU. This creates significant challenges for the network itself and its supporting infrastructure such as RPC/API nodes. For Dapps with massive user bases, multi-chain and cross-chain should be the solution. The FSC core team firmly believes in the future of partitioned chains and multi-chains as it can sustain the growing demand for decentralized computing power and storage. This is consistent with the multi-chain strategy found in many other blockchains in the industry such as ETH2.0 as well as Polkadot, Cosmos and Avalanche. Cross-sharding and cross-chain/multi-chain interoperability will be key topics in recent years, and FSC token developers and corresponding communities are committed to realizing the vision of FSC operating at the crossroads of the future of decentralized blockchains.