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Fantom ICO Evaluation and FTOM Token Analysis

Fantom ICO Analysis

 

Fantom ICO Introduction

The Fantom ICO uses a DAG-based blockchain procedure for instantaneous deals and limitless scalability at near no expense. The Fantom group has actually set a throughput target at 300 k deals per 2nd (TPS).

As a high-performance blockchain, their objective is to be amongst the very first platforms to interfere with the existing payments and supply-chain management markets. With a worth proposal that concentrates on decreasing expenses, increasing openness and carrying out numerous countless deals per second, Fantom picture future usage cases for their item in a wide range of sectors consisting of food innovation, telecom, banking, electrical energy and property.

Fantom ICO Code Review 

Fantom claims to be an improved version of a DAG model for speed and infinite scalability. They accomplish this via the Lachesis Protocol. Transactions are confirmed with a DAG to maintain consensus within the decentralized Fantom network.

The asynchronous time based DAG model gives them scalability. I am curious how concurrency and network propagation is handled as well as double spend attacks across multiple nodes. However this is left unanswered at this point in time.

Their smart contract language is scala based.

The core is the Lachesis Protocol. This data is not required to be saved by all nodes.

The design here is two fold, at the first layer we have the asynchronous time based DAG, simply put, this allows any node to confirm any transaction if a preceding transaction is known or present (similar to the UTXO model of BTC based eco systems).

It is this system that allows for concurrency, so each node can stream transactions as fast as they can as long as they have knowledge of the previous transactions. I am unsure at time of writing what happens when a transaction is found without a preceding transaction present and how this even propagation occurs. This is a key problem to solve, as often network latency is one of the key detriments to throughput.

From the above description, we can note that Time To Finality (TTF) is not present in the above layer. Finality is achieved by the Opera Chain. This layer implements Delegated Proof of Stake to elect Validators. These validators then identify path proofs. Path proofs are best compared to pathing algorithms in games, it’s about a) finding the shortest route, b) finding the route with least obstacles and c) finding the route that is appropriate for the characters that need to traverse it.

The Opera chain validators do something similar to find the DAG route that best describes all of the properties it is wanting to prove. This includes the path with the most valid transactions, that has the strongest reference to the previous opera block, and the route which if reversed would affect the most balance in the system.

To identify these, there are two sub systems, Atropos, and Clotho, in all honestly I am not 100% sure how this part works, from my understand the one is allowed to propose potential blocks and the other validates these, if enough agree (presumably via the same dPoS consensus) then the proposed block becomes the next Opera Chain block. This block, provides Time To Finality.

So now we have concurrent streaming transactions, each connected, time based, on their previous transaction, and given finality when a opera chain block is found. So in a perfect environment, where we had 100 nodes, each is fully aware of each preceding transaction, there are no conflicts, no double spends, no multi attacks, and the shortest proposed route is the first proposed route, they can achieve 300k transactions per second.

At this point, we have a lot of unanswered questions, so let’s jump into the code and see what we have available.

 

 

The Virtual Machine currently, looks like our core questions won’t be answered today, but let’s see what kind of caliber code we are looking at.

 

 

Not the active repo, this is a checkbox repo. I like to see the development history and get an idea of what kind of effort has gone into it. However for now, we only have a snapshot, so let’s look at the proposed snapshot.

Good documentation on all the OP codes

 

 

Copyright notices were added today. I’m assuming the code wasn’t developed today. Good comments, nothing interesting, but nothing bad.

 

 

Quite a bit of copy paste, this could have probably been refactored.

 

 

Quick little VM tester, I like that they added that in.

 

 

I would have loved to see this implementation, sadly it’s just a stub for now.

Not seeing any of the developers that coded these segments on their website, and the copyright belongs to the developers, which is weird.

And that’s all we have.

Fantom Code Review Conclusion

I’m left with more questions than answers after going through the code, I like the idea, I like that they have a strong focus on their end product, which is Foodtech, and that the blockchain is just to facilitate that goal. The code isn’t bad, but there isn’t anything really interesting here. They can code at least.

How long did this code take to write? What other components have they already finished? How far are they with the DAG and Opera Chain? This is one that I may have to update when there’s more to see, as I think they may have a lot more gas in the tank.

 

Fantom ICO Worth Proposal

The real architecture of Fantom is divided into 3 layers.

The bottom is called the OPERA Core Layer and is accountable for developing occasions and preserving agreement throughout all nodes by means of the Lachesis Procedure. Deals are validated by leveraging a Directed Acyclic Chart (DAG), permitting nodes to process deals asynchronously.

Much like a blockchain, deals are saved money on each node in the network, though information is not needed to be conserved throughout all nodes. In order to verify deals, a 2nd kind of node is utilized, called the witness node. Experience nodes inspect credibility throughout all nodes on the network. These nodes count on Delegated Evidence of Stake to choose validators.


The middle layer of the procedure is called the OPERA Ware Layer. This layer acts to carry out functions such as releasing payments, benefits, and composing “Story Data”.


The leading layer is called the OPERA Application Layer, and will offer openly offered APIs for dApps to use the middle layer. One specific element of note is exactly what Fantom describe as the “Story Data”.

While Ethereum has a restricted ability of tracking previous deals, Fantom resolves this concern by leveraging Story Data, which permits all previous deals to be tracked. Every deal and clever agreement execution can save a piece of information in this manner for functions like tracking products. For energies such as supply-chain management where indefinite records of information are necessary, this kind of architecture uses enormous worth.

Fantom ICO Network Architecture

Illustration of Fantom

The FTOM token is utilized mainly for staking and to reward witness nodes taking part in recognition of the network. FTOM tokens will likewise be utilized for incentivization plans to reward users and draw in factors to the platform. FTOM will at first be provided as an ERC20 token up until the launch of the mainnet, at which time individuals will lock the FTOM ERC20 tokens on the Fantom Platform and the comparable quantity of native tokens will be assigned.

Fantom ICO Group

The Fantom group is big. The lead group behind Fantom Structure is consisted of 11 members, together with 8 consultants. Beyond the core structure members, the platform advancement group consists of an extra 16 members in overall.

Dr. Ahn Byung Ik(Creator and CEO) Dr. Ahn holds a PhD in computer technology from Yonsei University and is President of the Korea Food-Tech Association. Dr. Ahn’s record of previous successes in the start-up world is notable. In 1998, he established an area based service business called Point-I which he then offered after IPO. Once again, in 2010, Dr. Ahn established food-tech platform SikSin(much like Yelp) which inning accordance with Google Play has actually reached 1 million+ downloads.

Bob Tucker(COO) Bob has more than 25 years of experience handling companies for leading banks and property supervisors, consisting of Barclays Capital, Bank Austria Creditanstalt, Male Investments and ANZ Bank. Most just recently, Bob was the Head of Service Management for the Worldwide Markets and Institutional Loans department of ANZ Bank. He has prior experience in the cryptospace through his function as COO at Digital Currency Holdings

Sean Yun(CFO) Sean simultaneously serves in a number of various positions aside from Fantom- he is an Auditor for Natural FNP and TCN Bioscience, as well as CEO of Foodntable. Prior to his present functions, he acted as a supervisor at the Industrial Bank of Korea for 3 years.

Isaac Lee(CIO) Isaac is a basic partner at BlockWater Capital. As a company that concentrates on bringing blockchain jobs to fulfillment, this is not his very first venture into the cryptospace. Isaac is likewise previous COO of KRTG, a seeking advice from business focusing on digital properties.

Jake Choi(CMO) Jake Choi acts as Chief Financial investment Officer at Digital Currency Holdings. He holds a shown performance history in the monetary services market through previous functions such as Security Expert for the Digital Currency Group at Capital Markets CRC and as Vice President of Sales with digi.cash.

Joseph Jang(CSO) Joseph presently acts as VP of SL Blockchain Partners. He is likewise previous CFO of Global IP, a business which uses a c ryptocurrency arbitrage automated tradebot system. Other previous functions consist of International Director of Service Advancement at DVInside and Director of International Financial Investment at Sansoo Ventures.

Advisors to the Fantom ICO consist of:

Steve Bellotti – COO of Digital Currency Holdings and previous Director of ANZ Bank

Cho Min Sik(Michael)- board member of Korean messaging app Kakao

Kim Hyeong Joo- President of the Korean Blockchain Association

For a total list of staff member and consultants please check out the Fantom website

Fantom ICO Strengths and Opportunities

Fantom have actually set out a prepare for recording their preliminary target audience. The site notes the South Korea Food-Tech Association as a partner, that includes the top 90 leading business in the 200 billion dollar food market.

As pointed out above, CEO Dr. Ahn likewise acts as President of this association. With Dr. Ahn’s substantial background in both the food and innovation sectors, Fantom strategy to begin constructing their environment with dApps for food appointments, shipment services, and supply-chain management.

The group have actually revealed their objective to utilize collaborations by means of the Food-Tech Association towards this end. The sales group likewise prepare to promote the item to merchants and street suppliers as a more affordable option to the deal charges sustained by routine payment systems, though this stays a more theoretical possibility at present.

DAG-based procedures offer one course to scalability that has in the previous tested appealing to financiers, with previous jobs such as IOTA, Byteball and Nano all having actually seen considerable returns post ICO.

While those jobs come from the very first wave of DAG procedures, the next round might well cause comparable beliefs within the area. A genuine value-add, Fantom gives the table the incorporation of facilities for clever agreements and dapps, which prior DAG jobs like IOTA and Nano did not provide at the time of their launch and have yet to integrate into their item. The previous efficiency of DAG-based procedures provides us increased self-confidence for the future of Fantom.

Fantom ICO Weak Points and Dangers

Inning Accordance With the Fantom roadmap, the testtnet launch is prepared for Q42018 Fantom might experience competitors from other DAG procedures like Hedera Hashgraph and Constellation, which likewise prepare to have live testnets by the end of 2018.

Hedera and Constellation both release comparable architectures to Fantom through their incorporation of clever agreement performance. In regards to TPS, Hedera likewise have actually taken objective at a greater figure, which they profess to have actually currently attained.

As a task based from Korea, Fantom might perhaps keep a hang on their domestic market by means of the connections Dr. Ahn and others on the group have. Nevertheless, this is not a warranty and the development of Fantom in relation to direct competitors will represent a vital aspect in accomplishing adoption with business.

At this phase, Fantom has yet to develop any collaborations with business customers. While there has actually been reference of conversations that remain in the works, no main statements have actually been made. As business adoption is the vital aspect of Fantom’s scaling technique, it will serve to promote a higher sense of self-confidence if the group can produce strong contracts from business to collaborate on piloting and including the procedure. We will be watching out for advancements on this front.

The Decision on Fantom ICO

Fantom is among a number of competitors that have actually decided to integrate DAG scalability with clever agreements for usage energy. If the Fantom task has the ability to provide on the pledge of high TPS and utilize their market domain towards business adoption, we see the possibility for a course to real usage.

That stated, at this moment in the development of blockchain, when real business adoption of such innovation will happen stays an open concern. Regardless, we believe the Fantom ICO has a group with the ideal mix of blockchain knowledge and market domain for a reasonable shot..

Fantom ICO Evaluation Ratings
Summary
The Fantom ICO (FTOM Token) intends to produce a blockchain that can be utilized throughout numerous market sectors without the major restriction of transactions-per-second (TPS). As we have actually detailed in numerous task evaluations, scalability is a significant challenge to business adoption of the blockchain, and the option that Fantom is constructing would eliminate this for most use-cases. The race to mass adoption has numerous rivals and numerous services; Fantom might have as great a possibility as many.
Establishing Group 8.8
Item 5.2
Token Energy 9.3
Market 7.4
Competitors 7.1
Timing 6.5
Development To Date 8.1
Neighborhood Assistance & & Buzz 7.8
Rate & & Token Circulation 6.2
Interaction10
Advantages
Establishing group has market domain in both blockchain and target audience
Job integrates finest of clever agreement energy with scalability of DAG
Appealing roadmap for recording target audience on house soil
Disadvantages
No authorities collaborations with business revealed yet
Item advancement is still at an early phase
Competitors exists from comparable
jobsew Whitepaper (tba)

FANTOM ICO EVALUATION SCORES

SUMMARY

The Fantom ICO (FTOM Token) intends to produce a blockchain that can be utilized throughout numerous market sectors without the major restriction of transactions-per-second (TPS). As we have actually detailed in numerous task evaluations, scalability is a significant challenge to business adoption of the blockchain, and the option that Fantom is constructing would eliminate this for most use-cases. The race to mass adoption has numerous rivals and numerous services; Fantom might have as great a possibility as many.

ADVANTAGES

  • Establishing group has market domain in both blockchain and target audience
  • Job integrates finest of clever agreement energy with scalability of DAG
  • Appealing roadmap for recording target audience on house soil

DISADVANTAGES

  • No authorities collaborations with business revealed yet
  • Item advancement is still at an early phase
  • Competitors exists from comparable jobs

Today’s Date: 5/8/18

Job Call: Fantom

Token Sign: FTOM

Site: https://fantom.foundation/

White Paper: https://fantom.foundation/data/ExecutiveSummary.pdf( Whitepaper TBA)

Crowdsale Hard Cap: $39,000,000 USD

Overall Supply: 3,175,000,000

Token Circulation: 40% Token Sale, 30% Market Advancement, 15% Advisors and Contributors, 15% Fantom Group and Creators

Rate per Token: 1 FTM = $0.04

Preliminary Market Cap (at crowdsale rate): $50,800,000 USD

2 Year Market Cap (at crowdsale rate): $101,600,000 USD (5% inflation rate)

Accepted Payments: ETH

Countries Omitted: China, U.S.A.

Benefit Structure: N/A

Presale Terms: 30% benefit with 3 month secure for personal sale

Whitelist: TBA

Crucial Dates: TBA

Expected Token Release: Following token sale

Extra Details: Whitelist will open around the 2nd week of May. See https://t.me/fantom_english for more details.

 

 

Founding Team

 

This classification represent the leaders, designers, and consultants.

Poor quality, weak, or unskilled management can doom a task from the beginning. Advisors who serve just to pad their own resumes and who have ill-defined functions can be worrying. However terrific management, with appropriate market experience and contacts, can make the distinction in between an effective and successful ICO, and a flub.

If you do not have a group prepared and able to construct the important things, it will not matter who is at the helm. Great skill is difficult to discover. Designer profiles must be inspected to make sure that they have a tested history of operating in a field where they must have the ability to be successful.

Product

Exactly what is the innovation behind this ICO, what item are they developing, and is it brand-new, ingenious, various – and required?

The IOTA task is an amazing example of engineers run amok. The innovation explained or in usage needs to be maintainable, possible, and reasonable, otherwise the danger of it never ever originating is exceptionally high.

Token Utility

Tokens which have no real usage case are most likely the worst off, although speculation can still make them have some kind of worth.

The very best tokens we evaluate are the ones that have actually a required usage case– you should have this token to play in some video game that you will most likely want to play in. The best energy tokens are the ones which put the token holder in the position of providing tokens to companies who would have the ability to efficiently use the platforms in concern.

Market

There doesn ’ t need to be a market in order for an ICO to score well in this classification – however if it means to produce one, the argument needs to be very engaging.

If there is an existing market, concerns here include whether it is ripe for disturbance, whether the innovation makes it possible for something much better, less expensive, or faster (for instance) than existing services, and whether the marketplace is traditionally open to originalities.

Competition

The majority of concepts have a number of executions. If there are others in the exact same field, the expert has to make sure that the others do not have apparent benefits over the business in concern.

Additionally, this is the location where the expert must recognize any prospective weak points in the business’s position progressing. For example, a basic weak point in the STORJ system is that the token is not needed for acquiring storage.

Timing

With numerous ICO concepts, the timing might be far too late or prematurely. It is essential for the expert to think about what does it cost? need there is for the item in concern. While the IPO boom moneyed a great deal of terrific concepts that ultimately did concern fulfillment, an excellent expert would acknowledge when a concept is too early, too late, or ideal.

Progress To Date

A few of the least engaging ICO proposals are those that declare their creators will accomplish some far-off objective, at some point in the future, so long as they have your money with which to do it.

More intriguing (normally) is the ICO that looks for to advance some development along the course to success, and which has a clearly-identified roadmap with possible and affordable turning points along the method. Creators who are currently partially-invested in their items are usually more purchased their futures.

Community Support & Hype

Having a strong neighborhood is among the essential foundation of any strong blockchain task. It is necessary that the task shows early on that it has the ability to create and construct a strong and empowered assistance base.

The ICO market is ending up being more congested and more competitive. While in the past it sufficed to simply reveal an offering, today ’ s effective ICO ’ s strive to construct awareness and enjoyment around their offering.

Price & Token Distribution

Among the most significant aspects weighing any analysis is rate. The lower the rate the more there is to get. However too low of a cost might lead to an under capitalized task. It is for that reason crucial to examine rate relative to the private task, its maturity and the marketplace it is pursuing.

The overall supply of tokens must likewise be validated by the requirements of the task. Issuing a billion tokens for no factor will do no one any great.

Communication

Interaction is crucial. The success of a task is highly connected to the task leaders ’ capability to interact their objectives and accomplishments.

Things wear ’ t constantly go as prepared however attending to concerns and keeping the neighborhood and financiers in the loop can make or break a task.

What do you think?

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Written by Ravi Gupat

Ravi grew up in India and graduated in Economics. He is a serial entrepreneur who has founded and exited several companies in tech and media over the past 15 years. He is also an early stage investor and advisor in various blockchain-based companies.

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