[ICO Watch] Fantom may finally have a solution to the Blockchain’s scaling problem
Vision💡: World’s first DAG based smart contract platform
Summary:
Fantom is the world’s first DAG based Smart Contract platform that solves the issue of scalability and confirmation time of the existing blockchain technology. FANTOM uses OPERA Chain (processes a list of events asynchronously with no rights to modify previously confirmed transactions), Lachesis Protocol (transactions are confirmed with a DAG) and Story Data (transaction and smart contract function may store a piece of data for tracking and supply-chain management). It has the following features:
- Instant Payment/Settlements – Asynchronously with instant confirmation
- Near Zero Cost – Less than 0.01$ USD
- Infinite Scalability – Capability increases as more nodes participate
- Open-sourced – Transparent
- 300,000 TPS
“Beyond Blockchain – Fantom is the future of decentralized ecosystem”
Team & Advisors ⭐- 8.5/10
The Fantom core team consists of 26 members with extensive experience in blockchain/DAG space as well as development, business and entrepreneurship. Fantom already has a partnership with Oracle and Quantum Equity Partners.
Ahn Byung Ik, CEO – PhD in computer science from Yonsei University, Ahn is a contributing writer at Fortune Magazine and has been featured in South Korea’s major business media outlets. In 2010, Dr Ahn established a successful food-tech platform SikSin, which has since acquired over 3.5 million downloads and 22 million monthly page views. He is the president of the Korea Foodtech Association that consists of 90 companies as its members.
Bob Tucker, COO – over 25 years of experience managing businesses for leading financial institutions and asset managers, including Barclays Capital, Bank Austria Creditanstalt, Man Investments and ANZ Bank. Most recently, Bob was the Head of Business Management for the Global Markets and Institutional Loans division of ANZ Bank.
Fantom’s advisors include Jo Min Sik (Non-executive Director of Kakao), Francisco Jo (General Partner of Blockwater Capital), Steve Bellotti (CEO of Digital Currency Holdings) among others
Roadmap ⛳- 8/10
Fantom has a long roadmap and no MVP, however, they plan to start releasing code on Github soon..
Q2, 2018: Validation of the Lachesis Protocol, Middleware beta launch, Generation of ERC-20 token
Q3, 2018: Middleware Layer, Public API disclosure
Q1, 2019: Development initiation of OPERA Core Layer, Virtual machine beta
Q3, 2019: Mainnet Launch
Q2, 2020: Global platform expansion, FANTOM Council establishment
Token Metrics – 8.5/10
Total Hardcap: $39.85M USD
Max supply: 3.55B total tokens
Token sale %: 40%
Competitors
The hycon project, as well as Constellation Labs, have a similar architecture with DAG consensus
Verdict – 86%🔥
With middleware beta scheduled to launch in late June, this is going to be one of the most exciting projects to watch out for. Its goal is to do for DAG what Ethereum has done for blockchain. Considering the hype this project has generated in such a short time as well as Torque backing them, we are very BULLISH on this project.
Visit Fantom – https://goo.gl/Vsm3Gk
Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.
