Are you looking for Fantom ICO Review ? Checkout my detailed FTOM Token Analysis here . The Fantom ICO or the FTOM Token aspires to build a blockchain that can be used across different industry sectors without limitation on TPS or transactions per second. The major obstacle of the blockchain operation is scalability. This is why Fantom comes in with the solution to remove this obstacle that hinders the development of the blockchain technology. Despite having many competitors with different kind of solution, Fantom can have leverage in this race.
Let’s have a look as to what good it can bring to the crypto space as well as traditional fiat users.
What is Fantom ICO? Fantom ICO Review
Fantom ICO reviews provides a Directed Acylic Graph or DAG based blockchain protocol to be used for immediate transactions and limitless scalability at an almost no cost. The company have set a target of 300,000 transactions-per-second.
The company’s goal is to be one of the first platforms that will disrupt the current payments & supply-chain management sectors. They are positioning themselves as a platform that can do cost-cutting while increasing the level of transparency which can execute thousands of TPS.
Fantom’s vision is to use cases for their product in different sectors which include real estate, telecom, electricity, food technology and banking.
Fantom ICO’s Approach : The structure of Fantom ICO is branched in three layers.
The lowest level is the OPERA Core Layer which is accountable for creating events and managing unanimity across the entire nodes through the Lachesis Protocol. User transactions will be confirmed through the DAG. This system will allow nodes to process the transactions made by users not happening at the same time.
Just like the blockchain technology, transactions are saved on every node in the network. So, to validate the transactions, the second type of node is working here–the witness node. The role of witness nodes is to check the validity of the transactions across all nodes on the network. The nodes are working here rely solely on the Delegated Proof of Stake in electing validators.
The next layer is the OPERA Ware Layer. This layers serves to accomplish functions like issuing rewards, payments and writing the story data.
The last and the topmost layer is the OPERA Application Layer. This provides publicly available APIs used for dApps to make use of the OPERA Ware Layer.
Fantom ICO offers a service that can solve the issue of limited capability of tracking user’s past instruction through its Story Data in the middle layer. Every transaction made by the user and the execution of smart contract will be stored in the piece of data to easily track past transactions. This kind of structure offers great value for supply-chain management wherein limitless data records are vital.
The FTOM token is mainly used for staking and rewarding the witness nodes that participates in the network validation. The Fantom tokens also serve as a reward to the incentivization schemes in rewarding users and attract contributors to the Fantom platform. The tokens will be issued as ERC20 tokens at the beginning until the mainnet launch. Giving users time to lock-in their FTOM ERC20 tokens on the platform and will be allocated equally to the amount of the native token.
Who is behind the Fantom ICO?
The team behind Fantom ICO Review system is huge. The leadership team of Fantom Foundation is composed of 11 members with 8 advisors. Beside the co-founding members, Fantom’s development team is composed of 16 members.
Let’s start off with the CEO and Founder of Fantom, Dr. Ahn Byung Ik. He holds a doctorate degree in Computer Science from Yonsei University. He is the President of Korea Food-Tech Association. His past successes in the startup business is very noteworthy. In the year 1998, he founded, Point-I, which is a location based service company but he sold it out after the initial public offering. In the year 2010, he founded SikSin, an app which is similar to Yelp that specializes in the food-tech industry. His app reached over a million downloads.
Fantom’s CFO is Sean Yun. He currently serves in different positions besides working for Fantom. Yun is working for the Natural FNP and TCN Bioscience as an auditor. He is working for Foodntable as a CEO. Before becoming at the top level leadership, he was a manager for 3 years at the Industrial Bank of Korea.
The company’s COO is Bob Tucker. He has 25 plus years of experience in managing businesses for the major financial institutions and fund asset managers. These includes Barclays Capital, ANZ Bank, Man Investments and Bank Austria Creditanstalt. Recently, he was the Business Management head for the Global Markets and Institutional Loans division of ANZ Bank. Before he became the COO of Fantom, he became a COO for Digital Currency Holdings.
The CIO of the Fantom ICO Review platform is Isaac Lee. Lee serves as a general partner at the Blockwater Capital. Similar to Bob Tucker, he became the COO of a consulting company, KRTG, which specializes in digital assets.
The CMO of the Fantom ICO is Jake Choi. He serves as the CIO at the Digital Currency Holdings. Prior being the CIO, he has worked with Capital Markets CRC as a Security Analyst for the Digital Currency group. He also became the Vice President for sales at digi.cash.
The CSO of Fantom is Joseph Jang. He is currently serving as Vice President for the SL Blockchain Partners. He is a former CFO of the Global IP company that provides a cryptocurrency arbitrage through the automated tradebot program.
Fantom ICO advisors are Steve Belloti, COO for Digital Currency Holdings; Kim Hyeong Joo, Korean Blockchain Association President and Cho Min Sik, Kakao board member.
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Fantom ICO: Strengths, Opportunities, Weakness and Threats
The Fantom platform have already laid out a plan in hooking up their initial target audience. Based on their website, they have listed the SoKor Food-Tech Association as their partner. This partnership includes the leading companies in the food industry with 200 billion dollar worth.
The Fantom platform plans to begin constructing their ecosystem through the dApps for food delivery services, supply-chain management and food reservations.
Fantom team intended to advance their partnerships through Food-Tech Association. Also, the sales team initially plans to promote the products to street vendors and retailers as an avenue for cheaper transaction fees compared to the regular payment systems. Though this idea remains to be theoretical as of now.
The DAG-based protocols will provide a path to attain scalability which have proven to be attractive to investors. The DAG protocol were previously used by Nano, IOTA and Byteball.
The Fantom platform will also incorporate the dapps and smart contracts infrastructure. In this way, there is something really good about Fantom ICO.
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Conclusion :- Will Fantom ICO Ace the Crypto Space?
However, despite Fantom’s push to leverage the crypto space, they will face many competitors including Constellation and Hedera Hashgraph that will also have testnet launching by the end of 2018. Constellation and Hedera have similar structures with the Fantom platform through the smart contracts.
On the lighter side, even the Fantom ICO review project is based out of South Korea. It can still capture their domestic market through the connections of Dr. Ahn and his team obtain. On this stage, Fantom haven’t established any partnerships with their enterprise clients because there were no official announcements yet.
The Fantom ICO Review platform has many competitors that have also decided to combine the scalability of DAG with smart contracts. If the Fantom ICO will be able to give its promise of high TPS and advance their industry domain towards enterprise adoption, then it has a potential to be used in the long-run.