FANTOM Foundation Adds Coinsilium as Advisor Ahead of Upcoming ICO

London-based startup-accelerator Coinsilium Group, which finances and manages the development of early-stage Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term technology companies, has added FANTOM Foundation to its advisory clients’ list and will provide guidance to its upcoming token sale.

FANTOM is developing a Smart Contract Smart Contract A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist Read this Term platform based on Directed Acyclic Graph (DAG). DAG-based protocols are an alternative to traditional blockchain models and provide faster transactions and low fees keeping the core features of the blockchain, like immutability, censorship-resistance, and decentralization, intact.

Commenting on this advisory appointment, Coinsilium’s CEO Eddy Travia said: “I am delighted to be joining the board of advisors of FANTOM, on behalf of Coinsilium. The rate of innovation in this space is quite staggering and we are looking forward to working with their highly talented and ambitious team as they look to develop new DLT solutions with inherent scale and faster transaction times.”

FANTOM is planning to raise $39.8 million by selling the platform's native tokens, and the event is scheduled to start on June 15.

Expanding client list

Coinsilium, with its advisory services, is becoming a prominent name in the blockchain space as it has recently added quite a few firms as its clients including PLACTAL and TDH Limited.

Moreover, the business of Coinsilium gained momentum after it raised over £720,000 ($960,800) late last year by selling 8.0 million ordinary shares of company stock.

Accelerating blockchain

As a part of its startup acceleration program, Coinsilium is also investing in many blockchain businesses. Last year, it invested $75,000 in a cryptocurrency social trading startup called Coindash. That followed more investments by the firm including another $75,000 in the blockchain-based Linkedin alternative Indorse and nearly $500,000 in StartupToken, a provider ICOs advisory services to cryptocurrency start-ups.