You may have been following our bitGuru investment fund recently, well we now have decided on our next investment… Fantom, with the whitelist opening on the 8th June, 2018, we wanted to give an update to the community and a brief overview about Fantom. So, what is Fantom? and why are we planning on investing?
What is Fantom?
Fantom is an upcoming project which will be a Direct Acyclic Graph (DAG) based Smart Contract platform. A DAG based platform is different to blockchain in as much as there is no block ledger. DAG platforms completely remove the blocks, rather, transactions are linked directly to each other. This allows transactions to confirm in milliseconds as there is no block which needs to be hashed. Current DAG platform’s include; Byteball and IOTA (although IOTA is not a full DAG system)
Fantom intends to solve the scalability issues of existing public distributed ledger technologies. The platform intends to distinguish itself from the traditional block ledger-based storage infrastructure by attempt- ing to employ an improved version of existing DAG-based pro-tocols.
Fantom will adopt a new protocol which will maintain consensus know as the ‘Lachesis Protocol’. This will be integrated in the Fantom OPERA Chain. This will enable very high TPS and almost zero costs.
The FANTOM platform adopts a new protocol known as the “Lachesis Protocol” to maintain consensus. This protocol is intended to be integrated into the Fantom OPERA Chain. The aim is to allow applications built on top of the FANTOM OPERA Chain to enjoy instant transactions and near zero transac- tion costs for all users.
Fantom will allows the use of smart contracts as well as claiming the platform will achieve 300k TPS.
The FANTOM OPERA chain provides a Smart Contract script editor. It facilitates writing Smart Contracts by allowing the entry of various transaction conditions that t the characteristics of a DApp.
The private sale has ended and they have raised $37,850,000 out of a maximum $39,900,000 according to icodrops.com. The tokens already sold were during a private sale in which there was up to a 30% bonus. The remainder of the tokens are for the public sale, there will be a total of 50,000,000 FTM tokens. This will total 40% of all FTM tokens. Note, the bonus tokens sold in the private sale will be locked. other than that there will be no lockup for the private sale or public sale tokens.
There are 3.175 billion FANTOM (FTM) tokens. The FANTOM platform adopts an in ationary model to expand the ecosystem. FANTOM anticipates that there will be initially a 5% annual in ation rate that decreases as more users join the network. 20% of the total in ation is intended to be used to reward nodes and the rest is intended to be used to provide incentives for FANTOM platform users such as near zero transac- tion fees, and to reward users contributing to maintain a good ow of the ecosystem.
The FANTOM tokens will be distributed in the following manner:
- 40% token sale
- 30% market development
- 15% advisors / contributors
- 15% FANTOM team and founders
The actual project does not look as though it will be finished late 2019, however, they do intend on the release of the OPERA ware layer in Q3 2018. The OPERA ware layer includes a wallet and the smart contract scripts. While this looks like more of a long term buy there will certainly be opportunity to buy and sell this project looking to increase your holdings or make a quick profit along the way.
Don’t forget to join our Telegram channel to track the process of our cryptocurrency investment fund, with daily screenshots’ and our next investments.
DISCLAIMER – In no way is the investment advice! While you are free to copy our investments, it is important to remember that the value may go down as well as up. You could lose all of you initial investment, so could we. We are prepared to take that risk, if you are not, then do NOT invest.