Fantom.foundation is a DAG-based smart contract platform aiming to solve the main problems of current blockchains which are scalability and confirmation time. With the DAG model, and a brand-new consensus algorithm, will Fantom blockchain take over the first position with infinite scalability and instant transaction confirmation time?

General Information:

Website: https://fantom.foundation/

Telegram: https://t.me/fantom_english

Github: https://github.com/Fantom-Foundation

Whitepaper: http://www.fantom.foundation/data/FANTOM

Executive Summary: https://fantom.foundation/data/

Token For Sale: 40% (~ 1,270,000,000 tokens)

Specifically, the OPERA chain of Fantom promises these features:

Instant payment: the transactions in Fantom blockchain will be processed asynchronously with instant confirmation time. Near Zero Cost: In Fantom, the transaction fee is less than 0.01 USD from one wallet to another. Infinite Scalability: As more nodes join the network, the faster the confirmation time is. Open soure: The code of Fantom will be open for public review and testing, ensuring the transparency and trust.

In fact, these features can absolutely help Fantom stand out of the current blockchains such as Ethereum, EOS and IOTA. However, before coming to any conclusions, it is essential to figure out “how” and “when” Fantom can make this “promise” come true.

First of all, let us take a look at the “ingredients” of Fantom platform. The Fantom platform will consist of the following conponents:

The OPERA chain: The OPERA chain of Fantom processes a list of events asynchronously without the rights to change/modify the previous confirmed transactions. In this brand-new DAG- modeled blockchain, a new consensus mechanism will be utilized which is Lachesis consensus algorithm (it is a kind of Byzantine Fault Tolerant consensus) aiming to improve the security of the network. The Lachesis Protocol: Transactions are confirmed with a DAG to maintain the consensus within the decentralized FANTOM network. As mentioned, the new consensus algorithm will help every single event block confirm the previous block asynchronously, without needing to be confirmed by every node in the network (like the traditional blockchain). Therefore, even with the high transactional load, the network will still run smoothly and fast. Story Data: every transaction and smart contract function may store a piece of data for tracking previous information and supply-chain management. Story Root is the hash value which allows tracking back to the information of previous transactions or relevant data from its origin (supporting the Story Data). Its Smart Contract Language is a SCALA-like functional language for executing Smart contracts on top of Fantom Virtual Machine. This is a quite new programming language but still going through different criticisms around its actually functional efficiency.

For those who wonder about Fantom network’s architecture, it consists of three layers. Layer 1 is OPERA Core Layer, which help create events and maintaining consensus across all nodes via the Lachesis Protocol. Layer 2 is OPERA Ware Layer, serving payments, issuing rewards, incentives and Story data (Story date is the information about the previous transactions or events, this is supported by Story Root- hash value supporting to track back to their history). Layer 3 is OPERA Application Layer, it is for proving usable APIs for building other applications, using features of the second layer. The applications can be on various specified areas such as supply-chain management, electricity and so on; these layers operate together to improve the performance of the overall network.

Talking about technology, Fantom’s code was reviewed and it showed some positive “views”. That is definitely a pride for the development team.

Fantom Team

Now after understanding the whole system, it is necessary to dive deep into the capacity of development team, to see whether they can turn ideas into reality or not.

Looking through Fantom’s team, probably enthusiasts will become overwhelmed by the number of team members. To be specific, the foundation team consists of 11 members, and the development team 16 ones. These are a really big number of a blockchain project (comparing with developing ones), not mention 10 advisors! However, this big number does not mean the project owns its certainty of success.

Diving deep into the team experience, everyone can see that they are not so experienced in this field. In my opinion, the CEO is quite strong, but the development team are almost “researchers” and “theorists”- who can help with theory, not the real products. Also, there is no CTO, but just a lead development team (who is a PhD also).

However, we cannot deny some spotlights in their foundation team. The first one is their CEO- who holds a PHD at Yonsei University and also President of the Korea Food-Tech Association (consisting of top 90 leading companies in the 200 billion dollar food industry). He founded a food-tech platform Siksin- which records more than 1 million downloads in Google Play. The second one is Fantom’s COO- more than ver 25 years of experience managing businesses for leading financial institutions and asset managers, including Barclays Capital, Bank Austria Creditanstalt, Man Investments and ANZ Bank. From my view points, Fantom is strong in terms of their foundation team, but receive my minus point in their development team.

Fantom’s Token Sale Metrics:

To expect the success or failure of a project, it is essential to understand its token sale models. Here is the token sale metrics of Fantom:

For the token sale, 40% of the tokens will be pre-minted and sold for the community. With 2 years lock-up time with tokens for the team and founders (monthly distributed), 3 months lockup period for advisors and early contributors, 40 % for marketing development, the estimated ICO market cap is around 41million USD when Fantom tokens are listed on exchanges.

From my point of view, the market cap is quite large, comparing with its competitors (IOTA ~ 500 000 USD, Nano and Paymon ~1.3 million USD). This could be one of the reasons why investors hesitate to invest in this project at first sight.

Partners and Investors:

Fantom possesses a long list of investors including many companies and VCs. Among those, Korea Food- Tech Association must be the most outstanding one. We also have Siksin, Oracle Coporation, Hyper Chain Capital, and around more than 20 other names.

Roadmap:





One of the things that need being analysed is the roadmap of every ICO project. In Fantom’s case, it provides quite interesting milestones in their roadmap which are Imtermezzo, Seria, Buffa, Operetta and Grand Opera. These are 5 types of opera in the real world. However, what makes enthusiasts pay attention to the most is their Testnet and Mainnet launch. The roadmap said the Testnet will be around December 2018 and Mainet will be around 3rd quarter of 2019. This is not a long roadmap at all, but considering its competitors (aiming to improve scalability and confirmation time), probably Fantom needs to be quick.

As usual, we are going to summarize Fantom’s strong and minus points to summarize the review.

Strong points :

+ Great ideas and solutions for existing blockchains ( with infinite scalability and instant confirmation time)

+ Strong foundation team with great backers (South Korea Food-Tech Association).

+ Being among the first DAG- modeled smart contract and Dapps support platforms (similar with the ideas behind Paymon).

+ Clear and intelligent token metrics (with around 40% for token sale, then become the circulating supply, the parts for Team, advisors are being locked for a quite long period- 2 years).

+ The community is active and supportive (around 29k active members in Telegram).

+ Blockchain codes have been reviewed with positive feedbacks (by Cryptobriefing).

Minus points:

+ Hard cap is relatively high, comparing to the similar projects such as Paymon, IOTA, Nano (except a rich man- Hashgraph).

+ Dev team are a little “theoretical”, most of them are researchers and PhDs.

+ Roadmap is quite long, that could be a risk for investors and also the project itself. Right now, there is only Ethereum infrastructure which is quite complete, but at the end of 2018, we will expect some others, namely EOS, Tomochain… Fantom needs to be quick, or it will become outdated when the day comes.

In conclusion, Fantom is a promising project with clear vision and roadmap, not to mention a strong foundation team and great backers (capitals and companies). Their product was also tested by the third party, and revealed positive results. If the marketcap is smaller, there would be no hesitation for investing. However, with this number ( around 41 million USD), investors still can receive good ROI from this project.

RATE FROM ICOGENS.COM

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