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[Music] like many other projects phantom tries to grab a slice of the scalability pie by promising to scale up to as many as 10 000 transactions per second orders of magnitude more than what proof of work giant such as bitcoin and pre-proof of stake ethereum can even dream of on chain but how through a proof of stake model that revolves around the lachesis consensus mechanism with a bft or asynchronous byzantine fault tolerance in the spotlight to make all of this sound less confusing the main idea is that the network can remain functional even if one-third of its nodes become malicious for one reason or another furthermore its worth noting that it is possible to build various layers on top of phantom via laquesas the first implementation in this direction was opera back in 2019 which was a smart contract platform built on top of phantom which made it possible for example to move apps from ethereum and various ethereum competitors the cryptocurrency of phantom is of course the ftm it