ICO Review: Fantom
May 5, 2018
What is Fantom
Technology is evolving every day, and nothing is different with cryptocurrency either. New projects are trying to surpass the old ones, and so on. Today, we are reviewing Fantom ICO, a blockchain 3.0 project with the vision of being cheaper, faster, better and to scale better than the competition.
It is still early on in the project, but many other ICOs with only a vision managed to get a lot of traction. It claims that it will have 300,000 transactions per second, with almost no-fee transactions and that they will solve scalability issues, unlike other blockchain 3.0 projects.
Technicalities of Fantom
Fantom has three layers of operations. The bottom layer is known as the OPERA Core Layer. It is responsible for creating events and maintaining consensus across all nodes through the Lachesis Protocol. The middle layer is called the OPERA Ware Layer, and will provide the functionality for payments, issuing rewards, incentives and other data. Lastly, the top layer, which is called the OPERA Application Layer, will provide publicly available Application Programming Interfaces (APIs) for others to use features of the OPERA Ware Layer.
From an investor’s perspective, token economics is one of the biggest thing when it comes to deciding whether to invest into a project or not. There will be a total of 3.55 billion Fantom tokens issued, with a 5% annual inflation rate (unlike most cryptos, which are deflationary). Only 40% of the total token number will be sold to the public, making this project good for flipping (selling at the exchange listing) as it will have less tokens in circulations at the start, since most of the tokens are locked with smart contracts. However, longer term investments are not advisable with such low token percentage sold to the public.
Team and Advisory Board
Their team has no real “all-star” members, but they are very capable of fulfilling the task. The team will have a great task of competing versus cryptocurrencies like EOS, Cardano, Zilliqa, Hashgraph… They have enough members, well versed in many fields, and covering many aspects of the project.
Social Media, Influencers and SEO
This project is still young, but their telegram group and twitter pages are rising exponentially (over 5x increase in a week). Even though this crypto niche is pretty saturated, there is a place for a project like this. The project is not yet the most well-known amongst influencers and does not have many website visitors, but it’s only a matter of time with such rise of their followers on social networks and social mediums.
Fantom is a project that will have its future put in the hands of developers more than most other projects. It’s a tough and fierce competition in the “crypto-improvement” field that they are entering. However, we don’t have to speculate long term and guess if the project will succeed or not. We can focus on the short term and see if the hype factor will grow enough so that the ICO is a success, and so we can flip the tokens for some profit, and buy back in when and if the time is right.