Type: Platform
🐣 When I’m all alone of a Thursday evening, I like to contemplate some of life’s bigger questions — will a human ever be able to swim faster than a shark? Is ice cream forever doomed to melt in hot weather? Why do blockchains have to be linear?
Well, I’ve found an answer to the last question - they don’t.
🕸 Fantom is about to launch an ICO for their new high-throughput cryptocurrency which does not use a traditional linear blockchain, but rather a Directed Acyclic Graph (DAG). DAGs are like spider webs, where nodes are scattered all over the place - not just in linear blocks.
On a traditional blockchain, nodes have to be synchronised one block at a time. In a DAG, transactions don’t need to pass through every node, but can simply cut the quickest path through web.
This is where Fantom’s strength lies — its capacity for enormous numbers of transactions per second, and potential for near infinite scalability. Fantom supports smart contracts, and applications built on top of Fantom’s Opera utility will benefit from instant transactions using FTM tokens with near zero fees.
👦 The relatively young team behind the project is huge, and is filled with all kinds of tech developers, venture capitalists and industry professionals. The project’s advisors tend to come from the financial industries, although experience from the crypto realm is also fairly represented.
It seems it’s not just me who gets excited about Directed Acyclic Graph blockchain structures, because the online buzz is growing for Fantom, and its Telegram channel is currently home to over 20,000 users.
DAG technology is being picked up by other crypto firms, such as IOTA and RaiBlocks, so Fantom doesn’t have the market all to itself as far as non-linear blockchain tech is concerned.
🔎 Clues for:
- Easily avoids the typical pitfalls of linear blockchains — possibly infinitely scalable, rapid transactions which don’t have to travel through the entire blockchain.
- Supports smart contracts and the hosting of applications.
- Projected TPS rate of 300,000.
🔍 Clues against:
- There are hundreds, if not thousands of startups looking to solve scalability and transaction speed issues.
- Fantom will have to work hard to stand out.
- Lack of demonstrable MVP.
- White paper was very late in arriving.
- Roadmap is so long that it may be overtaken before it gets off the ground.
💼 The case has been solved!
Fantom does look promising. It has a strong team, and advisors from relevant fields — it has an ambitious goal, and it leverages one of the most advanced kinds of blockchain structures in its Directed Acyclic Graph. It has a good buzz around it, and looks like a potentially useful platform. With that said, however, high-throughput transactions are something everyone is aiming for. Fantom will need to contend with strong competition if it’s to stand out.
📈 RATING: 74/100
💻 Website: https://fantom.foundation/
👉 Telegram: https://t.me/fantom_english
📆 ICO starts: June 15th
💰 Hard Cap: $39,500,000
💯 Total tokens: 3,550,000,000 FTM
🔹 Tokens to be sold: 40%
❗️ Early Access Sale Start: May 28th
📃 Whitelist: https://fantom.foundation/
📅 Presale: June 1st
❕ Private Sale: Oversubscribed
👌 ICO Bonus: 30% for private sale / 15% for presale (3 month lockup)
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