Fantom claims that its blockchain can handle 300,000 transactions per second.
Coinsilium has announced that one of its clients, Fantom, has raised $39.8 million in its ICO.
Coinsilium is a company from London that invests in and manages Blockchain startups. Since its creation in 2014 it has invested in companies such as Indorse, a Linkedin-type website from Singapore, Satoshipay, a Bitcoin micro-payment platform from London, and RSK Labs, a Bitcoin-based smart contract platform from Buenos Aires.
Coinsilium announced the addition of Fantom to its list of advisory clients on the 10th of May 2018, promising guidance for the now-completed ICO.
What is Fantom?
Fantom is a South Korea-based blockchain company that promises instant transaction confirmation, transaction fees of $0.01, and processing power that increases with the number of nodes in the system.
According to its website, it is the world's first DAG-based smart contract platform. DAG stands for directed acyclic graph. This is a finite and chronological graph which cannot cycle back on itself because any given event in the graph is dependent on the preceding one. A family tree is an example of a directed acyclic graph.
One common application of a directed acyclic graph is a spreadsheet in which a value displayed in a given cell is the basis of values displayed in many other cells; when that value is altered, the cells all change automatically.
In terms of blockchain technology, Fantom uses a system called Opera which doesn't use blocks: "Instead of blocks, the OPERA Chain processes a list of events asynchronously with no rights to modify previous confirmed transactions."
According to the whitepaper, it operates in three layers: the 'Core Layer' process transactions, the 'Ware Layer' supports smart contracts, and the application layer supports third-party applications. The whitepaper says that the core later should be able to handle 300,000 transactions per second.
The consensus model used is called 'Lachesis'. It is asynchronous, meaning that one event can only be initiated when the previous one is concluded. The Lachesis DAG will store information in 'event blocks' which will be the basis for the proceeding event blocks: "Like other Blockchain technologies, where the new event block verifies all previous event blocks (including the transactions inside them), all new Event Blocks will verify only their parent event blocks," says the whitepaper.
The difference is that event blocks verify previous transactions instead of miners, avoiding delays in approval and bottlenecks.
According to the press release, Fantom has already partnered with banking, telecom and insurance firms. It specifically mentions the Korea Food-Tech Association, a consortium of companies that have a combined worth of $179 billion. According to Korean news portal Pulse, the organisation intends to apply the payment service to its member companies.
Coinsilium CEO Eddy Travia said: "The success of FANTOM's public token sale in a short time-frame illustrates the high level of interest in this project from the investment and blockchain communities globally. The team must now demonstrate the value of their protocol, but we see indications that FANTOM's technology is being considered very seriously, both at the enterprise and government levels."
In May, Coinsilium announced a revenue increase of 181 percent in 2017, with clients of its consulting service raising approximately $500 million through token sales and Β£720,000 raised through a share sale in December 2017.
Coinsilium has announced that one of its clients, Fantom, has raised $39.8 million in its ICO.
Coinsilium is a company from London that invests in and manages Blockchain startups. Since its creation in 2014 it has invested in companies such as Indorse, a Linkedin-type website from Singapore, Satoshipay, a Bitcoin micro-payment platform from London, and RSK Labs, a Bitcoin-based smart contract platform from Buenos Aires.
Coinsilium announced the addition of Fantom to its list of advisory clients on the 10th of May 2018, promising guidance for the now-completed ICO.
What is Fantom?
Fantom is a South Korea-based blockchain company that promises instant transaction confirmation, transaction fees of $0.01, and processing power that increases with the number of nodes in the system.
According to its website, it is the world's first DAG-based smart contract platform. DAG stands for directed acyclic graph. This is a finite and chronological graph which cannot cycle back on itself because any given event in the graph is dependent on the preceding one. A family tree is an example of a directed acyclic graph.
One common application of a directed acyclic graph is a spreadsheet in which a value displayed in a given cell is the basis of values displayed in many other cells; when that value is altered, the cells all change automatically.
In terms of blockchain technology, Fantom uses a system called Opera which doesn't use blocks: "Instead of blocks, the OPERA Chain processes a list of events asynchronously with no rights to modify previous confirmed transactions."
According to the whitepaper, it operates in three layers: the 'Core Layer' process transactions, the 'Ware Layer' supports smart contracts, and the application layer supports third-party applications. The whitepaper says that the core later should be able to handle 300,000 transactions per second.
The consensus model used is called 'Lachesis'. It is asynchronous, meaning that one event can only be initiated when the previous one is concluded. The Lachesis DAG will store information in 'event blocks' which will be the basis for the proceeding event blocks: "Like other Blockchain technologies, where the new event block verifies all previous event blocks (including the transactions inside them), all new Event Blocks will verify only their parent event blocks," says the whitepaper.
The difference is that event blocks verify previous transactions instead of miners, avoiding delays in approval and bottlenecks.
According to the press release, Fantom has already partnered with banking, telecom and insurance firms. It specifically mentions the Korea Food-Tech Association, a consortium of companies that have a combined worth of $179 billion. According to Korean news portal Pulse, the organisation intends to apply the payment service to its member companies.
Coinsilium CEO Eddy Travia said: "The success of FANTOM's public token sale in a short time-frame illustrates the high level of interest in this project from the investment and blockchain communities globally. The team must now demonstrate the value of their protocol, but we see indications that FANTOM's technology is being considered very seriously, both at the enterprise and government levels."
In May, Coinsilium announced a revenue increase of 181 percent in 2017, with clients of its consulting service raising approximately $500 million through token sales and Β£720,000 raised through a share sale in December 2017.
US Prosecutors Recommend 3-Year Prison Sentence for Binance's Changpeng Zhao: Report
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
π£ Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africaβs premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now π https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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