Fantom (FTM) Blockchain Platform - ICO Review, Rating and Details of Fantom ICO (Token Sale) - Rating: All In

FANTOM is the world’s first DAG based Smart Contract platform that solves the scalability issues of existing public distributed ledger technology. The platform distinguishes itself from the traditional block ledger-based storage infrastructure by employing an improved version of existing DAG-based protocols. The FANTOM platform adopts a new protocol known as Lachesis Protocol to maintain consensus. Applications built on top of the FANTOM OPERA Chain enjoy instant transactions and near zero transaction costs for
all users.

Returns Since ICO

  • ICO Price in USD: $0.04306. ROIx in USD: 0.34x USD
  • ICO Price in BTC: 0.000006677 BTC. ROIx in BTC: 0.22x BTC
  • ICO Price in ETH: 0.00008634 ETH. ROIx in ETH: 0.82x ETH

Problems & Solutions

The vision of FANTOM is to grant compatibility between all transaction bodies around the world using fast DAG technology that can be deployed at scale in the real world, and to create new infrastructure with high reliability that allows for real-time transactions and data sharing.

FANTOM has the intention of being used on a large scale in various industry verticals, such as telecommunication, finance, logistics, electric vehicle provision and others. The FANTOM Foundation intends to create the FANTOM platform along with a new Smart Contract-based ecosystem that can be used by all current and future partner companies around the world. To facilitate consistent global transactions with high accuracy and reliability, the FANTOM Foundation will lead the next generation of distributed ledger technologies.

The platform intends to be open-source: used and changed by the community, and to provide various application support tools that can be used to create decentralised applications (DApps).

  • Issues with blockchain
    • Blockchain is a software innovation for establishing digital trust between users, and facilitates the transfer of value from one entity to another over a network. Its aim is to enable the safe preservation and remittance of capital without the need for a traditional public institution or middleman. FANTOM believes that in order for blockchain technology to be used in real life with broad applicability, it needs to be easily transferable, irreversible, and the transaction fee must be small or zero. However, existing blockchain technologies have limitations due to slow confirmation times and potentially high transaction fees.
      • Issues of scalability
        • In existing blockchains, all nodes verify and store a single block at a time, leading to longer time in creating blocks and limitations in block size. Therefore, no matter how many nodes are connected, the performance will be limited by the speed of each node. The more transactions require processing, the worse the performance due to bottlenecks on the network itself. Thus, Fantom believes parallel approach is required.
      • Fees
        • Various fees occur when exchanging value using blockchain. Major fees include transaction confirmation fees paid to block miners, and the block reward itself. These fees incentivise consensus participants, and secure the network against attacks such as DDOS and staking attacks.² However, Fantom believes that these fees are prohibitively expensive for a scalable and enduring blockchain with a thriving ecosystem of users and applications.
      • History data
        • Blockchain only uses information stored in blocks – it cannot obtain information from the outside world to verify prior transactions, and the information stored inside existing blockchains only can provide limited functionality. In order for the blockchain technology to be embraced fully in the real world, Fantom believes that a function that manages historical information along with transactions inside the block is critical.
  • Solution offered by FANTOM
    • As a means to solve the problems of existing blockchain solutions, Fantom aims to develop a new implementation of DAG-based consensus, which intends to create a new platform that improves the scalability and versatility of existing DAGs. FANTOM’s technology is intended to create potentially infinite scalability, and process hundreds of thousands of transactions persecond even with large numbers of nodes participating in the network.
    • The FANTOM OPERA Chain is intended to solve the scalability limitations of existing blockchain with the Lachesis Protocol. This is intended to nbe achieved by adopting a method where a single event block verifies the previous transaction, and transactions are verified and processed asynchronously without being approved by the miners as in prior blockchains. Thus, increased transactional load will not lead to delayed approval or bottleneck effects. It intends to also manage historical information on its own without being assisted by external databases such as the Oracle Database. Event blocks that store information from transactions that arise include multiple data packages. A data package may include transactions, Smart Contracts, historical information, reputation management, and rewards.
    • The FANTOM OPERA Chain intends to make the processing infrastructure in our society more transparent and reliable. With fast and safe processing methods based on DAG and independent management of historical information through “Story Data”, the Lachesis protocol is intended to be expanded into various industries along with Smart Contracts.

Features & Highlights

  • The Lachesis Protocol
    • Using a DAG, the Lachesis Protocol is responsible for saving transactions that are connected by a chain of events. Like a blockchain, the OPERA Chain is saved on each node that participates in the network. To validate transactions on each node, a node known as the witness node checks validity across all nodes. Unlike many other DAG based platforms, the Lachesis Protocol will not only secure and speed-up transactions above 300,000 TPS, but also provide an open-source and permissionless platform.
  • Architecture
    • The FANTOM architecture is divided into three layers. The bottom layer is called the OPERA Core Layer. It is responsible for creating events and maintaining consensus across all nodes via the Lachesis Protocol. The middle layer is called the OPERA Ware Layer. It will provide the functionality for payments, issuing rewards, incentives, and Story data. Finally, the top layer is called the OPERA Application Layer, and will provide publicly available Application Programming Interfaces (APIs) for applications to use features of the OPERA Ware Layer.
  • Story Root
    • Ethereum has limited capability of tracking past transactions. On the FANTOM platform, however, previous transactions can be tracked based on the root hash value called Story Root for all transactions. The story root embraces all relevant data starting from the point of their creation. It provides an ideal tool for supply-chain management. For example, the meat used for a canned ham could be traced to its origin when using FANTOM.
  • Smart Contract Language
    • FANTOM provides a SCALA-like functional programming language for executing Smart Contracts on top of its own Virtual Machine known as the FANTOM Virtual Machine (FVM). The FVM will allow executive smart contract byte code efficiency and across all operating systems.

Token Utility & Use Cases

Fantom, like many other networks, will have its own currency that is used to pay for transaction fees and other actions on the network. The Fantom token will be used for chain governance, and security through proof of stake as well.

  • Smart Cities
    • FANTOM DAG platform is uniquely positioned to become the IT infrastructure backbone for smart cities. With the ability to collect large quantity high speed data transmission with scalable solutions across multiple smart city service providers.
    • By 2020 it is estimated that smart cities will have 90 Billion IoT devices sending data that needs to be stored securely whilst also being accessible to stakeholders for smart city data-driven smart contracts and Dapplication
  • Public Utilities
    • Public utilities include renewable energies, electricity, water, gas, telecommunications and waste management.
    • The future market for public utilities is set to be a two-way system made up of billions of interacting endpoints, IoT devices and APIs, that will enable consumers to have direct access and more control over their personal utility management as well enable the service providers and smart cities government to better manage these resources and smart city growth with data-driven information.
  • Smart Living
    • Smart living is focused on improving the quality of people's lives through the connectivity, transparency and management of information within our homes, cities, neighbourhoods and offices.
    • The interoperability and engagement with multiple IoT incorporated products and service providers will greatly improve the quantity of data collected and the innovative smart contracts and Dapplications that will enable better control and management of resources and home-life quality.
  • Healthcare
    • Working with service providers, relevant government bodies and stakeholders for the implementation and management of a secure, immutable electronic health record (EHR) system. This will enable a concise and comprehensive summary of the patient’s most recent health history across all select health practitioners and controlled by the patient directly.
    • Healthcare benefits can be significantly improved, for example, patient care via pre-scheduled visits based on a set of pre-defined eligibility requirements (age, previous medical history, medications, etc.) with smart contract automated payments and insurance claims.
  • Education
    • Empower students, education providers, governments and education-service businesses through combination of on-campus IoT device collection, online inputs from students, administrative back-office inputs along with educational resources.
    • For example, this can enable ensuring that student identities and credentials are universally recognized and verifiable globally, improve student management, enrollment processes, student payments and even creating learning marketplaces for Dapp development and resource sharing.
  • Traffic Management
    • Working with relevant gov’t bodies and service providers to deliver improved traffic management will greatly reduce time wasted in traffic where congestion costs billions of dollars and directly impacts health and stress of commuters.
    • Smart contract and Dapp enabled traffic management will permit better public transport scheduling, smart-contract enabled payments, road maintenance and repairs can be automated through sensor reporting and improve public parking and overall public safety.
  • Resource Management
    • Improve management of smart city resources - economic, human and environmental, to deliver improved services for their residents with minimal wastage or damage to resources.
    • This could include managing urban planning to cater for population growth and diversity, urban development, development approvals and budgeting for housing, transport, education, healthcare, public utilities and commerce.
  • Environmental Sustainability
    • As the IT infrastructure backbone securing and providing access to immutable data across multiple industry sectors, will enable better management decisions that have immediate and long term impacts on the local environmental sustainability.
    • There are multiple sustainability related applications such as creating natural resource commodity markets like carbon offsets, logging and fishing, or even organic food.

Roadmap & Updates

  • Intermezzo stage (~June 15 ICO)
    • Validate Lachesis protocol
    • Validate FANTOM architecture
    • FANTOM token on pre-sale
    • FANTOM token crowd sale
    • FANTOM Wallet development and distribution
    • Open Middleware beta
    • Commence OPERA Ware Layer Beta net
  • Seria stage (~3Q, 2018)
    • Open main Middleware and release API
    • Launch OPERA Ware Main net
    • Open OPERA Core Layer beta
    • Complete management of transaction processing
    • Complete management of Story data
    • Complete reputation management
    • Complete incentive management
    • Complete payment management
    • Launch restaurant service Application
  • Buffa stage (~1Q, 2019)
    • Begin main OPERA Core Layer
    • Complete development Infrastructure Layer
    • Complete development of Interface Layer
    • Complete development Computation Layer
    • Complete development of Control Layer
    • Open Function language beta
    • Open Virtual Machine beta
    • Open Smart Contract production tool
    • Manage Smart Contract
    • Reinforce secure signature
    • Reinforce client support
    • Design strategies for launching Main net of Beta net
    • Launch delivery service Application
  • Operetta stage (~3Q, 2019)
    • Begin OPERA chain Main net
    • Complete consensus model and fee model
    • Complete composition of decentralized network
    • Apply voting centre and voting function
    • Open main Function language
    • Open main Virtual Machine
    • Distribute and interact with Smart Contract template
    • Apply transaction processing main net
    • Apply Story data main net
    • Apply reputation main net
    • Apply incentive main net
    • Apply payment main net
    • Expand into the Food Tech industry
    • Expand into other industries
    • Open POS application service
    • Open commerce application service
  • Grand OPERA stage (~2Q, 2020)
    • Support development of FANTOM open source
    • Conduct global expansion
    • Compose FANTOM technology development council
    • Establish FANTOM research support agency
    • Improve performance and reinforce security
    • Enhance system model
    • Reinforce reliability / assurance
    • Open logistics application service
    • Open financial service application

Team Members

  • Ahn Byung Ik, President/CEO, Dr. Ahn is the CEO of Fantom Foundation. He holds a Ph.D in computer science from Yonsei University and has been awarded the President Award for his successful IT business. 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. Linkedin.

  • Michael Kong, CIO, Michael Kong is a smart contract developer who has been involved in the blockchain space for several years. He previously worked as the Chief Technology Officer at Block8, a venture capital-backed Blockchain incubator where he managed all of the business’s projects. He studied Finance and Information Technology at the University of Sydney and built one of the first Ethereum decompilers and smart contract vulnerability detectors. Linkedin.

  • Ashton Hettiarachi, Head of innovation lab, Ashton has over 10 years experience in business, the financial markets, and emerging technologies. He is the CEO at Blockchain Partners Holdings— a cryptocurrency investment and research firm located in Australia. Since 2016, Blockchain Partners has collected over billions of data points in cryptocurrency markets and have invested in 30+ successful ICOs. He was also responsible for building one of the largest e-commerce stores in the Middle East serving over 12,000 customers and shipping 50,000+ products. Linkedin.

  • Guillaume Drevon, Cryptography, Guillaume Drevon is the Chief Technology Officer of Sikoba Research. He is focusing on applying secure computation and zero knowledge proofs to blockchain projects. Guillaume is an experienced software engineering manager, having led development teams in a wide range of technologies, from windows kernel to mobile applications and in various industries such as video games, satellite and transportation. He studied at Ecole Normale Supérieure in Paris and holds a MAS in pure mathematics. Linkedin.

  • David Freuden, Partnership, David has been involved with blockchain since Dec 2016 assisting projects go-to-market and commercialise their technologies. Since in 2012 David has been an advisor to tech start-ups and a network member for Accelerating Commercialisation AusIndustry. Linkedin.

  • Samuel Marks, Development, Samuel is a PhD candidate and engineer, with a focus on distributed systems, compilers, epidemiology, biomedical engineering, and ERP. He runs, a high performance software consultancy firm.

  • Quan Nguyen, Development, Quan Hoang Nguyen has rich experience in R&D. He has worked as a post-doc researcher at the University of Sydney and has undertaken Software Engineering roles at IBM, Capital Markets CRC and Smarts – Nasdaq OMX. His experience and research interests include Graph Visualization, Web Development, Cloud Computing, Compiler Optimization and Transactional Memory. Linkedin.

  • Maxim Zakharov, Development, Maxim Zakharov has over 25 years of experience working as a Software Developer in a broad range of industries. His professional interests include Back-end systems and algorithm optimisation. He is a member of the team.

  • Andre Cronje, Technical advisor, Andre Cronje was the Chief Crypto Code Reviewer in CryptoBriefing before he joined Fantom. With 20 years of development experience, he had been a Technology Analyst in a Hong Kong investment firm Leminiscap, Blockchain Infrastructure Engineer at CryptoCurve, Blockchain Protocol Advisor at BitDiem and technical developer/manager at various other projects. He oversaw mobile developments and mobile security before entering into cryptocurrency industry. Linkedin.

  • Alex Kampa, Technical advisor, Alex has been involved in blockchain projects since early 2015, with a focus on blockchain architecture, consensus models and smart contracts. He is the founder of Sikoba, which is building a decentralised peer-to-peer IOU platform. As a researcher in monetary theory, he has worked on the credit conversion theory. Alex also has extensive experience in financial software development. Linkedin.

  • Agustin Chiappe, Development, Agustin Chiappe Berrini has over 10 years of experience developing software. He specializes in distributed applications and data engineering, using Scala, Rust, Golang and Python and is a fan of compilers, virtual machines and emulating old cpus. Linkedin.

  • Maxim Prishchepo, Developer, Maxim Prishchepo - founder of team. From the middle of 2016 began to take an active interest in projects, connected with blockchain. He has a 15-year experience in FinTech area along with financial information system security and it helps greatly in blockchain projects. Linkedin.

  • Alexander Guzev, Developer, Alexander Guzev came to blockchain world with over than 10 years experience of maintenance business processes with telecom billing and traffic, IT systems implementation. After he has been involved in the blockchain space, he focused on blockchain architecture and distributed systems. Knowledge fusion of traditional financial industry and modern distributed technologies gives a great result. He is a member of the team.

  • Yury Chernyshov, Developer, Chernyshov Yury has been involved in blockchain space since 2016. He is a certified specialist in information technology and has a great background as a system analyst and blockchain expert with development experience. He specializes in the blockchain connected projects as a project manager in team. Linkedin.

Partnership Overview

  • Oracle Korea, Ltd. offers enterprise performance management and business intelligence software solutions. It offers Oracle Insurance Solution for insurance industry. The company was founded in 1989 and is based in Seoul, South Korea. Oracle Korea, Ltd. Oracle Korea, Ltd. operates as a subsidiary of Oracle Corporation.

  • Wehome is home sharing owned by guests and hosts. The value created by participants is kept and shared inside the community. Wehome lets guests and hosts sharing home in 0% commissions while getting incentives. Harnessing blockchain technology, the community will be more transparent and trustful. Wehome keeps to evolve into DAO(Decentralized Autonomous Organization).

  • Danfoss engineers technologies that enable the world of tomorrow to do more with less. They meet the growing need for infrastructure, food supply, energy efficiency and climate-friendly solutions. Their products and services are used in areas such as refrigeration, air conditioning, heating, motor control and mobile machinery. They are also active in the field of renewable energy as well as district heating infrastructure for cities and urban communities. Their innovative engineering dates back to 1933 and today Danfoss is a world-leader, employing more than 27,000 employees and serving customers in more than 100 countries.

  • Founded in 2000, SoftBank Ventures Asia is the only global early-stage venture arm of SoftBank Group. Their expertise lies in ICT investments. They look for and invest in startups with a strong potential in Asia, the U.S., Israel, and the EU, focusing on AI, IoT, and smart robotics industry.

  • Siksin allows users to leave honest feedback on restaurants and recommend places to eat. Currently, more than 50,000 restaurants are registered on the app, and more than 2.5 million people use the platform each month.

  • The Korea Food Technology Association (KTF) is a food technology start-up that brings together domestic CEOs and experts, food-tech practitioners, government, academics, and VCs to share information and exchange personal information among the food-tech industry.

  • Korea Blockchain Industry Promotion Association(KBIPA), which is a joint corporation with citizens. To create a good job through fostering a new future industry. In order to have the best competitiveness, not only academia and corporation's efforts but also governmental policy support and institutional support. Large companies and startup companies involved in the block chain industry.

  • Singapore Fintech Association is a cross-industry NON PROFIT initiative, intended to be a platform designed to facilitate collaboration between all market participants and stakeholders in the FinTech ecosystem. It is designed to be an effective platform for members to engage with multiple stakeholders to find solutions to issues.

  • OBCIA aims to find new engines of growth for the blockchain industry in Korea by promoting the application and utilization of blockchain technology. Other notable members of the OBCIA board include The Loop, MediBloc, Microsoft, IBM, Block O, Glosfer, and ETRI amongst many others. OBCIA seeks to increase the utilization of blockchain technology and raise industrial competitiveness by establishing an open platform and forum to share information on blockchain research and development.

  • TCM is an investment management firm focused on delivering alpha across a range of strategies that are aligned to the growth occurring in digital assets. They offer a gateway for investors to access a unique suite of digital asset funds with a rigorous governance framework and world class controls infrastructure.

  • BlockWater is a leading digital asset fund(DAF) focusing on bringing blockchain enabled projects to the real world application. Their investment portfolio is built on belief that current discruption of cryptoeconomics and blockchain is only the start. BlockWater deploys multiple investment strategies by leveraging its profound industry background. BlockWater not only invests in blockchain ecosystem but also provides consulting to great minds across the globe.

Social Media Links

Twitter Updates

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  • It’s always our pleasure to support good events by good people. Looking forward to the 21st! $FTM