- High profile partnerships
- Accesibility through exchanges
- Highly scalable through incorparation of new technology
- Strong team
Technical Analysis by Kong Trading - 11/21/2019
Currently, on the 1Daily timeframe, we can see a market structure, which looks like a bottoming process. That is mostly seen after a long downtrend, the price starts moving/swinging at a level of support, starting to create higher lows and higher highs. Looking at this particular pair, we can even see a triple bottom formation beginning to form.
Fantom is aiming to be the first smart contracts platform that seeks to solve the scalability and confirmation time issues by utilizing a directed acyclic graph (DAG) for its consensus.
By solving these issues while maintaining low transaction fees, the Fantom Foundation wants to reduce costs/increase transparency and solve our day to day problems about Smart Cities, Public Utilities, Smart Living, Health care, Education, Traffic Management, Resource Management, and Environmental Sustainability.
The South Korean team launched their ICO on the Ethereum blockchain, and right now, the base currency $FTM is an ERC-20 token. With the launch of their mainnet in Q3 2019, they will swap these tokens to their native token standard. These tokens will be used for staking and reward witness nodes participating in the validation of the network.
The Fantom Foundation can be found at the following address:
Fantom Foundation has an innovative idea of making use of decentralized acyclic graphs (DAG) to do this. As a contrary to traditional blockchains containing blocks of transactions, a DAG consists of an acyclic graph of transactions. Additionally, the whole system is free from any miner fees as there are no miners in the entire network.
The way a DAG-based network works is before making any transaction, the node that makes the transaction needs to verify the previous two transactions. This makes it possible to process transactions asynchronously without compromising speed. This might sound a lot similar to the existing IOTA network. However, the Fantom network is a lot different than this due to its design architecture that makes it superior to others.
The entire system is composed of three different layers:
This layer consists of the DApps that are built on top of Fantom’s network. As these apps use the underlying network, they are free from any traditional attacks that the centralized apps suffer from. Additionally, these apps also don’t run into problems such as slow transactions as they utilize the fast speeds provided by the underlying layers.
This layer acts as the medium of communication between the DApps and the Opera core layer. This layer consists of smart contracts on the DAG network. The applications make use of these smart contracts to settle any disputes or even reallocate funds or resources.
This is the layer is the processing layer of the entire system. To eliminate the need for any miners, the Fantom Foundation made use of an asynchronous verification method. Every node on the system needs only to verify its parent transaction to get its transaction verified. This allows the Fantom network to scale to a very high degree as well as provide it with the ability to process 300,000 transactions every second. Thus, helping to solve the problem of slow transaction speeds on traditional blockchains.
Fantom is currently targetting banks / smart city service providers as primary users. The secondary users will be the customers of these companies.
This is the part of the Fantom network that facilitates instant transactions. All transactions in the system are processed asynchronously. This means that the apps that are built on top of this can benefit from the instantaneous and nearly free transactions on the network.
This is a new protocol that has been solely designed with scalability in mind. Every node that makes a transaction processes the previous transaction asynchronously. By not having to wait for every node to confirm a transaction, the Fantom
network is capable of achieving a very high degree of scalability.
Every transaction and smart contracts on the Fantom network store the data of its parent transaction as well. This is stored along with the signature of the sender in the form of a hash.
The Fantom Network and the IoT technology are a dynamic duo capable of solving several problems around the world. Smart cities can finally be a reality due to the Fantom network. By providing a communication network with a very high level of scalability, millions of IoT sensors can communicate with each other and help in the creation of smart cities.
The Fantom network can also be instrumental in our daily lives. Due to the fast transaction speeds and zero miner fees, using cryptocurrency for microtransactions will now be possible.
The Fantom foundation can completely revolutionize the entire supply chain sector. The supply chain management companies can take advantage of the Fantom network and save the money spent on tracking the packages. Additionally, the accurate location of the package will be available to the concerned people due to the use of the blockchain.
To be used as payment for transaction fees, to provide a stake for network security, and to participate in on-chain governance.
Last Update 11/20/2019
We heard about different projects such as IOTA & NANO, which are utilizing the DAG before, but this does not necessarily mean that they are Fantom’s direct competitors. But there are other projects out there that are not using DAG but blockchain and aiming to support smart contracts and solve scalability issues. Many blockchain-based competitors such as Zilliqa, EOS, Tomo had an early start.
Directly from Fantom’s technical advisor Andre Cronje:
“So I don't get the DAG vs. Blockchain argument. Also, when looking at DAG, what implementation?
So you can't really say "DAG vs. blockchain."
Hedera Hashgraph is the closest competitor to Fantom at this point. Both projects had their sales around the same time during Q2 - early Q3 2018. Hedera Hashgraph raised around $100 Million in comparison to Fantom, who raised less than half of the former.
You can see the full list of team members here.
$0.04 per token
Around $39.4 Million Raised
40% of the Total Supply / 1.42 Billion tokens offered to the public
30% Market Development
15% Advisors / Contributors (3 months vesting)
15% FANTOM Team & Founders (3 months vesting) More Info
As of 11/20/2019
Last Update 11/20/2019
Twitter - @FantomFDN / 19.9K Followers
Reddit - r/FantomFoundation / 2.2K Subscribers
Youtube - Fantom Foundation
Telegram - Fantom Foundation/ 16.4K Members