Fantom Blockchain Project Partners with Multi-Billion Dollar Danfoss IOT Energy Giant
Fantom Announces Partnership With IOT Energy Giant Danfoss
Fantom recently announced that they would be working with Danfoss the giant corporation working in the IOT field. Danfoss has made a lot of headway is the energy efficiency field. This deal will be a major strategic alliance, whose ripples will be felt globally.
The partnership could revolutionize P2P platforms focused on energy efficiency. Some estimate the change could be similar to how Uber changed the car transport industry. Both of these will kick off partnerships by working on projects that accelerate development of microgrids.
About The Danfoss Group
The company is a major company that manufactures devices using in the HVAC and household electronics sector. The company has been quite innovative in the area of renewable energy. This has been possible by investing in wind, solar, and district HVAC infrastructure. The company has over 24,000 employees globally with its base of operation in Nordborg, Denmark.
The company managed to make sales of 5.8 billion euros in 47 nations and 56 facilities around the world. They have a distribution network for solar inverters in 27 nations with 82 distributors. Innovation in the field of technology will continue to play a crucial role in the energy world for policy and economic reasons.
Breakthroughs will not just come from research labs but via business models created by the private sector. By working with Danfoss, Fantom will be able to apply the technology to real-world uses cases with the help of innovations and using the blockchain technology.
What Fantom Hopes to Achieve
Fantom hopes to ensure compatibility between all firms involved in the transaction process globally with the help of DAG technology. This technology can be deployed in the real world to create a reliable infrastructure that makes real-time data sharing and transactions possible.
Fantom uses a protocol called the Lachesis protocol for purposes of consensus. The protocol is compatible with the platform’s Opera Chain. The goal is to ensure instant transactions for all apps created on the Opera Chain with no cost for all parties. With the recent partnership, the company moves closer to making their dream a reality.
Fantom wants to be used on large scale in the different industries. For instance, it wants to be integrated into the finance world, telecommunication, logistics, electric vehicles, and many others. The foundation behind Fantom wants to create a platform and an ecosystem powered by smart contracts that will be used by all future and current partners globally.
Fantom wants to ensure that transactions around the world are accurate, reliable, and fast. That is why Fantom bills itself as the next stage in the DLT world. This platform wants to be open source. It will be used by the community, which will also determine what changes need to be made. Fantom will provide various tools for app creation, which will be useful for coming up with DApps.
Fantom believes the current blockchain has some major flaws. Instead of merely talking about it, they decided to do something about it. From their recent partnership agreement, it is quite clear this is working.