Overview

Fantom is the world's first DAG based smart contract platform.

Project stage

Only a whitepaper

Detailed description

FANTOM is a new DAG based Smart Contract platform that intends to solve the scalability issues of existing public distributed ledger technologies. The platform intends to distinguish itself from the traditional block ledger-based storage infrastructure by attempting to employ an improved version of existing DAG-based pro-tocols. The FANTOM platform adopts a new protocol known as the “Lachesis Protocol” to maintain consensus. This protocol is intended to be integrated into the Fantom OPERA Chain. The aim is to allow applications built on top of the FANTOM OPERA Chain to enjoy instant transactions and near zero transaction costs for all users. 

The mission of FANTOM is to provide compatibility between all transaction bodies around the world, and create an ecosystem which allows real-time transactions and data sharing with low cost.


Problem

Issues of scalability

In existing blockchains, all nodes verify and store a single block at a time, leading to longer time in creating blocks and limitations in block size. Therefore, no matter how many nodes are connected, the performance will be limited by the speed of each node. The more transactions require processing, the worse the performance due to bottlenecks on the network itself. 

Fees

Various fees occur when exchanging value using blockchain. Major fees include transaction confirmation fees paid to block miners, and the block reward itself. These fees incentivise consensus participants, and secure the network against attacks such as DDOS and staking attacks.

History data

Blockchain only uses information stored in blocks – it cannot obtain information from the outside world to verify prior transactions, and the information stored inside existing blockchains only can provide limited functionality.

Solution

The FANTOM OPERA Chain is intended to solve the scalability limitations of existing blockchain with the Lachesis Protocol. This is intended to nbe achieved by adopting a meth- od where a single event block verifies the previous transaction, and transac- tions are verified and processed asynchronously without being approved by the miners as in prior blockchains. Thus, increased transactional load will not lead to delayed approval or bottleneck effects. It intends to also manage historical information on its own without being assisted by external databases such as the Oracle Database. Event blocks that store information from transactions that arise include multiple data packages. A data package may include transactions, Smart Contracts, historical information, reputation management, and rewards.

The FANTOM OPERA Chain intends to make the processing infrastructure in our society more transparent and reliable. With fast and safe processing methods based on DAG and independent management of historical information through “Story Data”, the Lachesis protocol is intended to be expanded into various industries along with Smart Contracts.

Features

Application Layer, Opera Ware Layer, and Opera Core Layer, these three layers allow decentralised applications to run. Instead of blocks, the Opera Chain processes a list of events asynchronously with no rights to modify previous confirmed transactions.

  • Application Layer
    Smart contracts for Payment, Reservations, Delivery, Commerce, Reputation, Logistics, etc.
  • Opera Ware Layer
    Wallet, Compilers, Register based Virtual Machine, verifiable computing.
  • Opera Core Layer
    DAG-based Distributed Ledger, Gossip about gossip protocol, Lachesis Consensus Algorithm
Show details

Additional links

  • Token details

    • Token symbol ? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. : FTM
    • Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : 39,400,000 USD
    • Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Own blockchain (ERC20)
    • Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. : NA
    • Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Utility token
    • Total supply ? Total supply — a total amount of tokens that will be released by the developers. :3,175,000,000 FTM
    • Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No
    • Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :1,270,000,000 FTM
    • Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Closed
    • Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No
    • Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA
    • Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :ETH,
    • Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :China, USA,
    • Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :Yes
    Get details
  • Token and Funds Distribution

    Token distribution date

    NA

    Unsold tokens

    NA
      • Token Distribution

          Vesting notes

          • Advisors / Contributors: Token allocation has 3 months lockup.
          • FANTOM Team and Founders: Token allocation has 24 months vesting period.
        • Funds Distribution

      Sale schedule

      Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
      Crowdsale — Ended
      15 Jun 09:00 UTC
      16 Jun 09:00 UTC
      0.04 USD No Min 0.2 ETH Uncapped 2,000,000 USD
      Private Sale — Ended
      Start Soon
      NA 15% - 30% - Uncapped 37,400,000 USD
      Private Sale

      Bonus locked for 3 months.

      Read more about vesting and bonus
      • Team

        • Ahn Byung Ik photo
          Ahn Byung Ik
          CEO
        • Joseph Jang photo
          Joseph Jang
          COO / CSO
        • Jake Choi photo
          Jake Choi
          CMO
        • Michael Kong photo
          Michael Kong
          CIO
        • Seung Mun Lee photo
          Seung Mun Lee
          CFO
        • Sung Yun photo
          Sung Yun
          CBO
        • Bob Tucker photo
          Bob Tucker
          Treasury
        • Fred Pucci photo
          Fred Pucci
          Legal Counsel
        • Yeweon Park photo
          Yeweon Park
          Marketing Director
        • Gyumin Kim photo
          Gyumin Kim
          Marketing Manager
        • Yongwon Seo photo
          Yongwon Seo
          Communications Manager
        • Shinchul Kim photo
          Shinchul Kim
          Business Development
        • Jung Taek Lee photo
          Jung Taek Lee
          Business Development
        • Yo Seob Han photo
          Yo Seob Han
          Ph.D, Researcher
        • Sang Min Choi photo
          Sang Min Choi
          Ph.D, Researcher
        • Ji Ho Park photo
          Ji Ho Park
          Ph.D, Researcher
        • Ki Young Jang photo
          Ki Young Jang
          Ph.D, Researcher
        • Hyun Joon Cheon photo
          Hyun Joon Cheon
          Ph.D Candidate, Researcher
        • Quan Nguyen photo
          Quan Nguyen
          Development
        • Jong Chul Park photo
          Jong Chul Park
          Development
        • Kang Ho Kim photo
          Kang Ho Kim
          Development
        • Jung Hwa Ye photo
          Jung Hwa Ye
          Development
        • Chan Yeul Jo photo
          Chan Yeul Jo
          Development
        • Sang Ha Yang photo
          Sang Ha Yang
          Development
        • Eun Jeong Lee photo
          Eun Jeong Lee
          Development
        • Sung Hwan Kim photo
          Sung Hwan Kim
          Development
        • Im Chung Choi photo
          Im Chung Choi
          Development
      • Advisors

        • Steve Bellotti
          Executive Advisor
        • Matthew Hur
          Executive Advisor
        • Ashton Hettiarachi
          Technical Advisor
        • Alex Kampa
          Technical Advisor
        • Eddy Travia
          Advisor
        • Ran Neu-Ner
          Advisor
        • Francisco Jo
          Advisor
        • Issac Lee
          Advisor
        • Hak Kyoon Kim
          Advisor
        • Min Sik Jo
          Advisor
        • Hyeong Joo Kim
          Advisor

      Roadmap

      • June 15 2018
        Intermezzo stage
        • Validate Lachesis protocol
        • Validate FANTOM architecture
        • FANTOM token on pre-sale
        • FANTOM token crowd sale
        • FANTOM Wallet development and distribution
        • Open Middleware beta
        • Commence OPERA Ware Layer Beta net
      • 3Q 2018
        Seria stage
        • Open main Middleware and release API
        • Launch OPERA Ware Main net
        • Open OPERA Core Layer beta
        • Complete management of transaction processing
        • Complete management of Story data
        • Complete reputation management
        • Complete incentive management
        • Complete payment management
        • Launch restaurant service Application
      • 1Q 2019
        Buffa stage
        • Begin main OPERA Core Layer
        • Complete development Infrastructure Layer
        • Complete development of Interface Layer
        • Complete development Computation Layer
        • Complete development of Control Layer
        • Open Function language beta
        • Open Virtual Machine beta 
        • Open Smart Contract production tool
        • Manage Smart Contract
        • Reinforce secure signature 
        • Reinforce client support
        • Design strategies for launching Main net of Beta net
        • Launch delivery service Application
      • 3Q 2019
        Operetta stage
        • Begin OPERA chain Main net
        • Complete consensus model and fee model
        • Complete composition of decentralized network
        • Apply voting centre and voting function
        • Open main Function language
        • Open main Virtual Machine
        • Distribute and interact with Smart Contract template
        • Apply transaction processing main net
        • Apply Story data main net
        • Apply reputation main net
        • Apply incentive main net
        • Apply payment main net
        • Expand into the Food Tech industry
        • Expand into other industries
        • Open POS application service
        • Open commerce application service
      • 2Q 2020
        Grand OPERA stage
        • Support development of FANTOM open source
        • Conduct global expansion
        • Compose FANTOM technology development council
        • Establish FANTOM research support agency
        • Improve performance and reinforce security
        • Enhance system model
        • Reinforce reliability / assurance
        • Open logistics application service
        • Open financial service application

      Activity