What is Fantom
Fantom is a Directed Acyclic Graph (DAG)-based smart contract platform which distinguishes itself by incorporating new methods of scalability, a high-performance virtual machine, and safe and secure smart contract execution. It utilizes a self-developed consensus mechanism that allows asynchronous Byzantine
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Fantom is building the next IT infrastructure backbone for Smart Cities.
“Fantom aspires to be an inclusive and comprehensive ecosystem capable of plugging into many industries across the world, to change the face of finance and, through smart contract-based micropayments, the relationship between companies and their customers.”
Fantom’s basic structure is comprised of three layers. The first is the base OPERA layer, which creates events and maintains consensus via the Lachesis Protocol. The second is the OPERA Ware layer, which issues rewards, incentives, and serves payments, while maintaining story data. Story data can be defined as information about previous transactions or events. The story root hash value can be applied to confirm the story data in tracking its history. The third layer is the OPERA Application layer, which consumes second layer APIs in order to build applications. These applications can range from managing electricity to supply-chain network functions. The Lachesis mechanism speeds up the block generation process through the use of asynchronous Byzantine fault tolerance without compromising the level of organization that a traditional blockchain delivers.
Because of the scalability, speed, and enhanced security on smart contracts, Fantom is a formidable technology that many see as a contender for the next iteration of blockchain projects. It aims to host a range of applications as the governing layer for all technology used within smart cities. Through their existing partnerships, experienced team, and focused business regions, the Fantom Foundation is well-positioned to build technological base for the cities of tomorrow.
Rewards are issued on a fixed daily rate which is set to approximately 682,425.46 FTM, however, this number can be changed through governance. The same contract that collects the fees is also responsible for distributing the rewards. A recent change in the model has removed the inflationary system. The mainnet launch will set aside more than 30% of the total supply out of 3.175 billion tokens in order to distribute these block rewards to validator and delegator nodes. These tokens will be used on the network for facilitating a variety of applications that developers build which the end-user will adopt in daily life.
Fantom holders will be able to stake their tokens to participate in a variety of ways. Users can stake for validation, delegation, and to vote for network decisions such as the cost of transaction fees. The proof used in this manner is a method similar to delegated proof-of-stake (dPoS).
There are two main types of nodes in the FTM staking model, called validators and delegates. Validator nodes will be required to stake at least 0.1% of the total FTM supply. These validator nodes will also be responsible for the generation and validation of blocks, and in return, they will receive block rewards and a portion of the transaction fees. Based on performance and reputation, validator nodes will be assigned a validator score. The node owners are incentivized to act in accordance with the overall network, otherwise, they are subject to penalization. Delegators can choose a validator and vote for them by lending their tokens. By delegating these tokens they will earn a share of the rewards that the validator node receives.
Dr. Ahn Byung Ik (Founder and CEO) LinkedIn
- Ph.D. in Computer Science from Yonsei University.
- Extensive experience in blockchain tech and distributed systems.
- President of Korea Food-Tech Association.
- Founder of Korean food-tech platform SikSin (similar to Yelp).
Michael Kong (CIO) LinkedIn
- Studied Information Technology and Commerce at the University of Sydney.
- Former Chief Technology Officer at BLOCK8, a blockchain incubator.
- Built one of the first Ethereum decompilers and smart contract vulnerability detectors.
Jake Choi (CMO) LinkedIn
- Bachelor of Commerce, Quantitative Business Analysis and Finance at University of Sydney.
- Responsible for investor relations, soliciting of large funds and potential
- ecosystem partners.
Andre Cronje (Technical Advisor) LinkedIn
- One of the most prominent crypto code reviewers in the space at CryptoBriefing.
- Software Architect with 20 years of development experience in FinTech solutions, blockchain technology, big data, high transactional infrastructure, mobile security and cryptography.
Bob Tucker (Treasury) LinkedIn
- COO and Founding Partner of Digital Currency Holdings.
- 25+ years of experience managing businesses for leading financial institutions and asset managers, like Barclays Capital and Bank Austria.
- Former Head of Business Management for the Global Markets and Institutional Loans division of ANZ Bank.
Michael Chen (Lead Marketing) LinkedIn
- Worked for
Blockcloudand ChainOfThings on marketing and community management.
- Community and public relationship management, growth marketing and Biz Dev connection.
For over 20 years, Hancom Secure has been a market leading provider of banking and security software as well as integrated IT solutions (IoT) in Korea. Through this important partnership, Hancom Secure is exploring and developing blockchain solutions on the Fantom platform. Additionally, this allows Fantom to access and incorporate Hancom’s blockchain security technology. Both teams are focused on secure and scalable future-proof solutions, and
“More than the scalability issue… there are security concerns. Security is particularly paramount when we talk about IoT and many devices processing micropayments in real-time.”
POSBank is the leading point-of-sale (POS) provider in South Korea and operates in 80+ countries. They provide high-end POS equipment to merchants around the world and are currently the most popular POS device provider in South Korea. You can find their devices in almost every restaurant or store. POSBank’s payment device will be upgraded to interact directly with
The Danfoss Group is a leading corporation in manufacturing products and providing services used in cooling food, air conditioning, heating residences and commercial buildings, and household appliances. The company is innovating in the field of renewable energy by investing largely in solar and wind power, as well as district heating and cooling infrastructure.
“This partnership has the potential to revolutionize peer-to-peer energy platforms in the way Uber has revolutionized transport. Fantom and Danfoss will explore the possibilities of accelerating the development of the microgrid.”
Siksin is a South Korean food-tech platform and restaurant recommendation app, similar to Yelp, with over 3.5 million downloads and 22 million monthly views.
Oracle is the second largest software company in the United States and Fantom partnered with the blockchain department of the Korean division. Oracle utilizes Fantom’s middleware in order to tackle enterprise software problems.
Directed Acyclic Graphs (DAGs) have sparked a large amount of excitement in the blockchain space. IOTA’s Tangle brought attention to this technology in 2015, and NANO’s DAG-based payment model offered industry-leading speed and affordability. These DAG implementations are the 15th and 46th largest cryptocurrencies by market cap, respectively, demonstrating sizable interest in this subset of distributed ledger technology. At the current token price, Fantom places at 1% of the IOTA market cap and 10% of NANO, making it an asymmetric investment opportunity in the DAG space.
However, we have yet to see a DAG-based protocol take the lead in creating an ecosystem for decentralized applications in the vein of smart-contract protocols like Ethereum. This is where we believe Fantom’s approach of “research first, tech second, and development third” has enabled it to emerge as a potential industry-leader: Fantom is improving upon the innovations of its DAG-based predecessors like NANO and IOTA, while also incorporating smart contract functionality like that of Ethereum and Cardano. This marriage of a DAG-based consensus mechanism with traditional blockchain data structures allows Fantom to reach speeds substantially faster than any of its aforementioned competitors. The numbers speak for themselves: Fantom has reached speeds of 24,000 transactions-per-second—over three times faster than community favorite NANO and 1600 times faster than Ethereum (a measly 15 TPS). Emergent technologies are only as strong as their weakest link, and the speed bottlenecks present in current leading blockchains are simply incompatible with any vision of a decentralized world. Fantom’s speed, in tandem with strong security and scalability, is shaping it into a protocol ready for enterprise-grade applications.
Fantom’s closest competitor from a technological perspective is Hedera Hashgraph. They both use aBFT, but Fantom ends up outputting a traditional blockchain while Hashgraph retains a DAG structure. This gives Fantom the advantage of having a better structure for time-based outputs. Compared to Hashgraph’s claim of a $6 billion valuation, Fantom’s relatively small $16 million market cap places it as an underdog with substantial growth potential. Consistent progress on their technical roadmap as well as an unrelenting focus on research has us optimistic for a future in which Fantom emerges as an industry leader.
There is also another big name to look at here: VISA. VISA currently transacts more than $2 trillion in payment data per quarter, and this number will continue to climb as the world moves away from a cash-based society and into a credit-based society. Cryptocurrencies provide a natural progression in this flight from cash. Whereas VISA dwarves Fantom in volume of transaction data, Fantom offers a 100% increase in transaction speed capability (24,000 TPS versus 12,000 with VISA).
The major milestone in the Fantom roadmap will be the launch of their MainNet in Q3 2019. In late March 2019 in a DM shared on Telegram, Andre Cronje alluded to the development of the MainNet being ahead of schedule with a probable early delivery.
- Publish smart contracts development kit
- Dynamic Participation
- Root Finalization (infrastructure, interface, computation and control layers)
- Smart City Program Pilot
- MainNet release (transaction processing, story data, reputation, incentive, payment)
- Fantom Pay release
- Launch of first dApps
- PoS application service
- Apply voting centre voting function
- Release consensus and fee model
- Release main Function language and Virtual Machine
- Launching Fantom Loyalty
- Support development of Fantom open source
- Global expansion
- Establish Fantom technology development council
- Establish Fantom research support agency
- Reinforce reliability / assurance
- Release logistics application service
- Release financial service application
ICO Date: June 15, 2018
Max Supply: 3,175,000,000 FTM
Total Supply: 1,987,133,655 FTM
Hardcap: $39,400,000 USD
Exchange Rate: 1 FTM = $0.04 USD
Bonus Private sale: 15%-30%
At the time of writing, Fantom is trading at a price of $0.012 USD and has a market cap of around $16,000,000 USD. This means FTM is trading well below its ICO price. At a small fraction of NANO and Iota’s market cap, Fantom is still undervalued compared to its competitors. Despite market awareness reaching saturation, demand continues to ramp up as Korean projects like Aergo achieve price discovery in the crypto sphere’s recent altcoin rally. Fantom has progressed extensively in product and business development, and with MainNet coming up in Q3, the project shows promise for growth.
According to CoinMarketCap, Fantom (FTM) is currently trading at the following exchanges:
Community (Last update: April 1, 2019)
|@FantomFDN (11.9k followers)|
|/r/FantomFoundation (1.2k subscribers)|
|Youtube||Fantom Foundation (409 subscribers)|
|Telegram official||Fantom Foundation (20.8k members)|
|Telegram community||Fantom Marines (556 members)|
Recent interviews and reviews
(March 18, 2019)
|Fantom DAG Explained. This Coin Set To Explode. Structure Allows Smart Contracts & Staking|
(March 17, 2019)
|Fantom, Fantom Pay and Smart Cities|
|Oh Hey Matty|
(March 11, 2019)
|Fantom Blockchain Core Developer: Andre Cronje (2019)|
|The Crypto Lark|
(March 10, 2019)
|Fast, Powerful, & Ready for the Internet of Things & Smart Cities of the Future|
This report was compiled by analysts at SharkCIA and produced for informational purposes only. It is not investment advice and should not be considered as such. Investment in cryptocurrencies comes with risk, and you should consider professional advice as to whether investing in cryptocurrencies is right for you. Under no circumstance should this report or information contained herein be reprinted or reproduced without the express written consent of an official SharkCIA representative.