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The Core Team for Crypto

Posted by admin on 26. August 2018
Posted in background 

The Core Team of FANTOM consists of 11 people. In addition, another 16 people are involved in project development. A total of 8 consultants are at the team’s side.
Unfortunately, it is not so easy to evaluate an Asian team, as the professional background is also mostly in Asia and it is therefore difficult to verify the professional experience. Nevertheless, we were able to find out a lot about the team members.

Bitcoin Profit professional experience

Dr. Ahn Byung Ik (안병익) (Founder and CEO of FANTOM) holds a PhD in Computer Science from Yonsei University and is President of the South Korean Food-Tech Association. Particularly noteworthy is the recommendation portal for restaurants „Siksin“ founded by Dr. Ahn in 2010, which according to Crunchbase 2017 received an investment of USD 9 million and whose app has over 1 million downloads in the Google Playstore. Dr. Ahn has already gained experience Bitcoin Profit as a successful entrepreneur and has contacts to the food tech industry, for which the benefit of blockchain technology is particularly high (keyword: supply chain management).

FANTOM Bob Tucker’s COO has worked for many well-known senior management companies such as KPMG, Barclays Capital, Man Group or one of Australia’s largest banks (ANZ-Bank). A background in the cryptoscene could be proven since 2017. As COO he is employed at Digital Currency Holdings.

The remaining team members have a rather insignificant professional background in our view.

One drawback is that there is no CTO with experience from the blockchain scene. We have contradictory information on the Head DAG Architect „Lee Chung Hee“. Because the name „Bob C. Lee“ is listed in the linked-in profile. We also found 2 different Linked-In profiles for Bob C. Lee. Bob’s in the more active. C. Lee only works as an advisor from March to May. We’ll check here to see if we can get answers.

While the Bitcoin Code team

We awarded the FANTOM team 3.5 / 5 points. We found the expertise of the CEO and COO to be good. The technical part draws the Bitcoin Code rating down a bit . If the topic is clarified around the „Head DAG Architect“, then our rating rises by half a point.

Fantom Advisor
While the Fantom team has less blockchain experience, at least in the consulting team there are some advisors who have worked as advisors for other successful blockchain projects. For example, Eddy Travia’s Coincilium company acted as advisor on the ICON billion-euro project. Most of the members of the Advisory Board are in some way connected with the Digital Currency Holding in which COO Bob Tucker also works, e.g. Michael Kong, CTO of DCH or Steve Belotti, CEO of DCH.

The Fantom Consulting team receives 4/5 points from us because it is a solid advisory board, with consultants from various areas with a good blockchain background. One point was deducted because there is no particularly prominent advisor to be found here.

Fantom wants to collect almost USD 40 million in his ICO. However, if you look at the hype statistics, this goal proves to be difficult. No real hype has yet developed around this project. Neither Twitter nor Telegram can count an above average number of followers / members.

Also the Alexa-Traffic-Rank, which tracks the number of visitors of the website, gives only a mediocre result. However, the graph shows a clear increase in the last weeks.

Bitcoin forms the foundation

Posted by admin on 22. August 2018
Posted in supply 

As a consensus mechanism, FANTOM wants to use a so-called Lachesis protocol. This should make over 300,000 transactions per second possible. (Comparison: Bitcoin approx. 7-11, visas theoretically up to 56,000, on average approx. 1500-2000).

The FANTOM infrastructure consists of 3 layers:

Opera Core Layer: Forms the foundation – here the Lachesis protocol is used for the validation of the transactions by the nodes.
Opera Ware Layer: Function to execute transactions, rewards and incentives and to store data.
Opera Application Layer: Provides API interfaces for creating decentralized applications (dApps) that can be created for Smart Contracs, for example.
While tracking of past transactions is limited at Ethereum, this should not be a problem at FANTOM using the root hash (called story root). This is particularly important for the supply chain industry, as you have to track the complete route of a product from manufacture to sale.

FANTOM will provide its own virtual machine to run Smart Contracts. Ethereum uses its own virtual machine EVM with the programming language Solidity. At Fantom, the programming language „SCALA“ will be similar. Whether it will be possible to switch dApps running on Ethereum to Fantom is not known.

The goals are ambitious but they take up a very acute topic, because today’s blockchains have to struggle with problems of scalability, which still holds up the entry into the mainstream.

We give 5/5 points for the idea + solution approach.

Market and competition on Bitcoin Code

Blockchain technology is still in its infancy. The potential is gigantic. While many „experts“ consider Bitcoin & other crypto currencies worthless, almost everyone is certain that the technology behind it has an enormous value for almost all economic sectors. So a race has started to create the „perfect“ blockchain on which all other protocols and dApps are based. Because the current blockchains are still struggling with teething troubles. No wonder it is scam that more and more projects with new ideas are emerging. The market is huge, but as with the evaluation of the Quarkchain project, the same applies here: The project that first solves the scaling problems could make most other projects unnecessary.

There are enough competing projects. We have already mentioned a few. The most similar Bitcoin Code seems to be the ICO project Hedera Hashgraph, which has pretty much the same DAG approach as FANTOM. But even this project is still a long way from final completion.
Since FANTOM, unlike most other projects, is particularly responsive to the supply chain market and the CEO maintains good contacts with the food technology industry, this is a particularly good opportunity for market entry.

Source: https://fantom.foundation/data/FANTOM%20Whitepaper%20English%20v1.1.pdf

So far only one well-known partnership, with Oracle, is known. FANTOM raised USD 6 million in venture capital in a private round.

We score 3.5/5 points for the market/competition ratio.

Project development and roadmap

The FANTOM project is still relatively at the beginning of development. The whitepaper was recently published. Thus there is neither a TestNet on which the idea is tested nor a prototype that can somehow illustrate the idea. After all, the whitepaper explains the project in relative detail on almost 60 pages, or at least how it works theoretically. On June 15th a part of the project will be tested in the beta phase.

Due to the well elaborated whitepaper and the partly created prototype we have 2.5 / 5 points for the development status.

On June 15, at the start of the ICO, a major update is planned, namely the middleware beta launch and the validation of the Lachesis protocol. A further milestone is to be reached in the third quarter of this year. If you assume that the FANTOM token will be listed on a stock exchange in July / August, you can expect a new update at short notice, which could increase the price.

Token, token price and presale

Posted by admin on 17. August 2018
Posted in information 

The FTM FANTOM token is an ERC-20 utility token until the own MainNet starts. After that the token will be converted and accordingly independent of the Ethereum network. The ICO price was set at $0.04 per FTM. In the private sale there was a 30% bonus. There will be a 15% bonus for pre-sale. The pre-sale is expected to start on 01.06.2018 (update: no presale) and the ICO on 15.06.2018.

Token distribution and market cap

There will be a total of 3.55 billion tokens. 40% goes to investors. The hardcap amounts to USD 39.9 million, which is just within the green range. If market entry at ICO price, however, market capitalization would already exceed $140 million, making high growth more difficult. There are already similar blockchain projects in the billion euro range and there is therefore still some room for improvement for FANTOM, but the probability is not as high.

It is already known that if not all FANTOM tokens are sold during the ICO, the rest will be destroyed. That gives us a plus point. Because on the one hand this could correct the market capitalization downwards and on the other hand they would not be abused by team members.

There is also a lockout period for the team as well as for investors in presale and private sale. The bonus tokens are blocked for at least 3 months. For the team even 24 months. It is therefore unlikely that the token price will slip below the ICO price immediately after the stock exchange listing.

Speaking of stock exchanges: Unfortunately, there is still no information on when a stock exchange listing is planned.

The overall rating for the FANTOM ICO Token Metrics is currently 3.2/5 points.

FANTOMProject Details
FANTOM wants to solve the current problems associated with the blockchain:

Scaling to make blockchain technology mainstream-ready.
Reduce transaction costs to nearly 0.
Immediate validation of current and detailed tracking of past transactions.
FANTOM joins the ranks of all Blockchain-Layer-1 projects. So projects that create a blockchain infrastructure, like the „giants“ Ethereum, Bitcoin, IOTA, EOS, NEO etc. or new high-flyers like R-Chain or Zilliqa.

Instead of a typical blockchain, FANTOM chooses the data structure „Directed Acyclic Graph“ (DAG). The same method is already used by IOTA under the name „Tangle“. In contrast to IOTA, however, Smart Contracts should already be possible when the Mainnet is launched. IOTA would like to implement this also in the future, when it should happen, but it is still in the stars.

The advantages of the DAG approach became already clear at IOTA: As good as 0 transaction costs and a theoretically infinite scalability. FANTOM also offers the additional advantage of Smart Contracts. This opens up many other areas of application in addition to its function as a means of payment. More on this in the section „Market and Competition)