Understanding Fantom: Blockchain Platform and Genomics Project

The name "Fantom" refers to two distinct and unrelated entities: a decentralized blockchain platform designed for high-speed transaction processing and a long-standing international research consortium focused on functional genomics [3]. While the blockchain platform has evolved through various technical upgrades and rebrands, the genomics project has operated since 2000 to map the complexity of mammalian gene expression [3].

Key takeaways

• The Fantom blockchain is a layer-1 network that utilizes a directed acyclic graph (DAG) consensus mechanism called Lachesis to achieve high throughput [3].
• In August 2024, the Fantom Foundation rebranded to Sonic Labs, and in December 2024, it launched the Sonic mainnet with a new native asset, the S token [3].
• The FANTOM (Functional Annotation of the Mammalian Genome) project was established at Japan’s RIKEN institute to annotate full-length cDNAs [3].
• Historical records also identify a Swedish velomobile named Fantom, which was sold as a set of blueprints starting in the 1940s [2].

Evolution of the Blockchain Platform

Fantom (FTM) was founded in 2018 by South Korean software developer Ahn Byung Ik as an open-source, layer-1 blockchain [3]. The platform was designed to provide scalability and low-latency processing for decentralized applications (dApps) and smart contracts by utilizing an asynchronous Byzantine fault tolerance (aBFT) protocol [3]. This technology allows the network to support up to 10,000 transactions per second [3]. Throughout its growth, the platform has integrated with cross-chain bridges to maintain interoperability with networks like Ethereum and Binance Smart Chain [3].

The ecosystem has faced various operational hurdles, including network outages in early 2022 caused by high traffic and concerns regarding centralization due to a limited number of validators [3]. In response, the project shifted its focus toward the Sonic mainnet launch in late 2024, which introduced a native layer-2 bridge to Ethereum and transitioned the native asset to the S token [3]. While the newer Sonic network operates alongside the original Opera chain, the project remains a competitor in the scalable blockchain space [3].

The FANTOM Genomics Consortium

The FANTOM project, an acronym for Functional Annotation of the Mammalian Genome, began in 2000 under the leadership of Yoshihide Hayashizaki at the RIKEN institute in Japan [3]. Initially an extension of the RIKEN Mouse Encyclopedia Project, the consortium sought to move beyond structural genome sequencing by identifying and annotating all transcribed elements within human and mouse genomes [3]. By focusing on full-length complementary DNA (cDNA), the project aimed to reveal the regulatory mechanisms governing gene expression and the role of non-coding RNAs [3]. Supported by Japan’s Ministry of Education, Culture, Sports, Science and Technology, the initiative brought together over 100 researchers from approximately 30 institutions globally to share data and develop bioinformatics tools [3].