FANTOM is the world’s first DAG based Smart Contract platform that solves the scalability issues of existing public distributed ledger technologies.
- The first platform to disrupt the existing infrastructure for payments and supply-chain management
- Provides transparency and cost reductions for industries including, but not limited to, food technology, telecommunication, banking, electricity and real estate to autonomous vehicles using instant payments with near zero cost while maintaining hundreds of thousands of transactions per second.
- The world’s first DAG based Smart Contract platform that solves the scalability issues of existing public distributed ledger technologies
- Increased transactional load will not lead to delayed approval or bottleneck effects
- FANTOM OPERA Chain uses a high-level Scala-based functional programming language that compiles to smart contract bytecode on the FANTOM Network
- The OPERA Chain uses a new consensus algorithm known as the Lachesis Consensus Algorithm (LCA), which aims to significantly improve performance and security using DAG-based distributed ledger technologies
What is it?
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 the “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.
FANTOM’s mission is to provide compatibility between all transaction bodies around the world and create an ecosystem which allows real-time transactions and data sharing with low cost.
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 a new infrastructure with high reliability that allows for real-time transactions and data sharing.
FANTOM can be used on a large scale in various industry verticals, such as telecommunication, finance, logistics, electric vehicle provision and others. The FANTOM Foundation aims 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 aims to be open-source: used and changed by the community, and will provide various application support tools that can be used to create decentralized application services (dApps). Furthermore, we aim to facilitate the ecosystem and contribute to making a more transparent and impartial society by creating a reward-based token economy.
Technical aspects (9/10)
FANTOM’s platform has a unique technology called OPERA. The OPERA Chain is a new type of distributed infrastructure that solves for scalability issue of existing blockchain through rapid processing of blocks on a large scale. OPERA Chain processes in real time not only transaction information but also Story data in a distributed environment. The “Story root” is stored in event data in order to record detailed historical information. The structure of the Story root is similar to that of a general transaction, but it has a more extended concept in including inheritance of certain properties.
FANTOM OPERA Chain also uses a high-level Scala-based functional programming language that compiles to smart contract bytecode on the FANTOM Network. FANTOM’s OPERA Chain consists of three layers: The Core Layer processes transactions at scale, the OPERA Ware Layer which supports Smart Contracts and other functionality, and the OPERA application layer provides support for third-party applications. The OPERA Core Layer is the layer that operates reliable transactions in FANTOM’s ecosystem as well as core chain technologies for the exchange of information. OPERA’s Core Layer is a chain technology that can theoretically process up to 300,000 transactions per second.
Due to its highly experienced team and advanced platform, we believe that this project’s technical preparedness is solid enough.
Who are the competitors? (7/10)
IOTA, DagCoin, and ByteBall are only some of the Dag-powered competitors.
What is the ICO’s USP?
Fantom has laid out a plan for capturing their initial target market. The website lists the South Korea Food-Tech Association as a partner, which includes the top 90 leading companies in the 200 billion dollar food industry.
CEO Dr. Ahn also serves as President of this association. With Dr. Ahn’s extensive background in both the food and technology sectors, Fantom plans to start building their ecosystem with dApps for food reservations, delivery services, and supply-chain management.
Potential use case for this ICO (8/10)
FANTOM can become the first platform to disrupt the existing infrastructure for payments and supply-chain management. dApps built on top of the FANTOM OPERA Chain will provide transparency and cost reductions for industries using instant payments with near zero cost while maintaining hundreds of thousands of transactions per second.
Who are the team? (8/10)
Ahn Byung Ik, 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.
Bob Tucker, COO
Bob has 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.
From 1999 until 2007, he was based in London and Chicago as COO within Man Investments, a US$60bn alternative investment manager listed on the LSE. His roles included Co-Head of Man Global Strategies (MGS), an autonomous multi-strategy investment management division which seeded and developed emerging hedge funds (US$17bn AUM); and COO / Investment Committee Member of Glenwood, a top-tier US-based Fund of Hedge Funds (US$5bn AUM).
Bob is a member of the Institute of Chartered Accountants in Australia and has also been directly involved in a number of early-stage ventures, from start-up phase through to IPO.
Issac Lee, CIO
Joseph Jang, CSO
Jake Choi, CMO
Who are the advisors? (7/10)
Who are the investors backing this? (9/10)
What partnerships do they have?
Is this a utility or security token?
This is a utility token.
Do they need a token? (8/10)
Yes. They need the token in order to support the ecosystem.
When is the ICO and what are the token metrics?
The ICO has been concluded.
There is a not-so-active GitHub
Hype Rate (8/10)
The hype is fairly strong. Telegram community boasts over 40 000 members. Many articles have been written about Fantom.
What does the roadmap look like? (7/10)
The roadmap is highly detailed and provides very specific plans for the future, however, it fails to describe how the milestones will be achieved.
Will we be investing?
Yes. This is a very solid project with some big names and good technology behind it. We will be investing.