Analysis

THE PHANTASMA PROTOCOL ICO: Content Protection and Monetization

The Phantasma project promises to finally solve the unresolved problem of unauthorized content using, including both access to personal information and content, which is protected by copyright. These are not trifles at all. It is well known that the human factor becomes the most important in preserving the security and assets of corporate networks. Talk about the losses of authors from the illegal selection of their copyright content is simply not necessary.

In addition, cloud solutions also have vulnerabilities, and the “third party” effect is when the distribution of personal data is determined by someone.

Avoid all these risks should help the solution Phantasma, using the blockchain NEO and Ethereum. To be precise, there are gateways to these distributed networks from the side of decentralized application (dApp) Phantasma.
Technical rationale

In recent years, several projects have already been launched to prevent data loss of various kinds. With greater or less success, they solved the problems, but storing data in the blockchain is still an expensive pleasure. There are doubtes about the speed of such systems. And besides – some complexity has to be experienced by application developers.

Phantasma aims to solve almost all of these problems. And offers its standard for “seamless and secure data exchange”, management and integration, with the help of users and developers of dApps in the NEO ecosystem. With an emphasis on privacy and security. Users / content creators control their content without relying on third parties.

It is promised that a secure system, for example, mail, can be connected seamlessly with the existing infrastructure – the existing e-mail. In this case, all data that is stored in the user’s own wallet is available to him alone.


phan2Implementation

The Phantasma protocol includes 5 components.

Blockchain – initially will work as a service on top of NEO. Then it  will switch to cross-chain platform NEOX. And finally – to it’s own blockchain.

Smart contracts – a virtual machine Phantasma allows to deploy sub-smart-contracts NEO without paying the full cost of NEO smart contracts, with the functionality necessary to accomplish the tasks. A token SOUL (type NEP-5) is used.

SDK – for developers, an SDK is provided for C #. And later – and in other languages. And also API for communication with own applications of developers.

Relay Nodes – relay nodes will be used at the junction of the Phantasma and NEO enclosures to reduce the overload of the blockchain.

The system for distributed content storage – Phantasma Data File System (PDFS). For the actual storage of content, distributed storage backend is used, such as:

  • IPFS and Swarm (basic protocols)

  • File vaults such as Storj and Filecoin

  • Decentralized databases for common data, such as Bluzelle and Genaro

  • Built-in decentralized repository Phantasma

In addition to the SDK, it is expected that the following units will be developed: mail, chat, marketplace, storage for streaming, a service like the distributed Oracles database (implemented on Ether, but on NEO).

Ecosystem

The Phantasma ecosystem includes several components.

  1. Data economy – a stimulating system is created to store and distribute data with the monetization of these processes.
  2. SOUL token – this is the fluel of the Phantasma network, it connect consumers, producers and the content operator. Type NEP-5 (equivalent to ERC-20 for Ether). The SOUL token will also support a distribution pool that is essential to the reward claiming functionality of Phantasma Data File System (PDFS) layer. .
  3. Infrastructural incentives. Users can contribute to the development of the system by providing their storage devices for partial use by a decentralized network and receiving a reward for it. Each payment is subject to a split system:> 95% of paid tokens arrive on the target account, more than 5% are used as a reward.
  4. Initiatives of the ecosystem. To increase the initial interest of the crypto community and raise awareness about the platform, a certain number of tokens will be available every week for distribution to promoters on the platform. Participants can submit links to the content they have promoted or developed and at the end of each week tokens will be distributed between them depending on the quantity and quality of the content. After the launch of the platform, an incentive program will be created for third-party apps, developed on Phantasma, as well as bounty programs for the community, in order to raise awareness of the platform.

Tokenomiks

Ticker: SOUL

Type of the token: NEP5 (NEO)

Hardcap: 10 000 000 USD

Total tokens: 100,000,000 SOUL

Tokens for sale: 65 000 000 SOUL

Sale started: May 22, 2018.

Whitelist: closed 1 MAY

Know Your Customer (KYC): YES

Сan’t participate: CHINA, NORTH KOREA, SYRIA, USA

Token Issue: WILL BE UNLOCKED INSTANTLY DURING THE CONTRIBUTION PHASE.

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Team and achievements

Phantasma participated in the first championship of dApps of the famous team of crypto-enthusiasts City of Zion and took the 5th place.

Co-founders:

  • Sérgio Flores, the man behind the Nachomen project, the winner of the First NEO Dev Competition; the founder of Lunar Labs; is one of the developers of the team City of Zion; consultant on blockchain; 20 years of experience in developing.

  • Miguel Ferreira is a developer at Ethereum Foundation, an expert in blockchain, big data and development of corporate systems.

And three more participants with experience in development, marketing, financial accounting.

Advisors:

Laurence Seidler, CEO at Ride The Wave SL (Spanish R & D simulation company); CEO at Advent Global SL (Spanish marketing company in developing countries).

Neeraj Murarka, co-founder of Bluzelle Networks; Chief Architect of Digital Infinity Systems Inc; political figure (Libertarian party of British Columbia).

Gordon Hall, expert in applied cryptography, security and privacy. Author of the Storj protocol and it’s underlying DHT, Kadence.

Fernando Toledano, founder of Red4Sec, expert in security, blockchain and smart contracts. Responsible for the audit of the NEO blockchain.

Roadmap

The map is detailed in all stages until 2020, on the eve of which it is planned to launch a storage for video streaming.

SDK: Q3, 2018

Testnet: Q4, 2018

Mainnet: Q1, 2019

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Conclusions

A European project that is rare in the current ICO market. It is focused on the sphere that is always hot and relevant for developed markets: personal data security, content monetization.

Experienced titled team. The marketing component is very well spelled out. Technical causes questions because of snap to NEO. The transition to its own blockchain is planned only in process of later development of the project.

In any case, it’s worth it to look closely at it. Perhaps, it is through good marketing, a well thought-out motivation system that the project will develop well. At least – at first.

1 comment

  1. During the existence of the ICO, Phantasma.Io managed to fail at the initial and most important step. Complete disrespect for investors, disregard for the organization of the preparatory process. Not enough brains to benefit from the experience of many successful teams. This “group of people” managed to spoil everything before it began . It is not difficult to guess how this story will end. Moreover, in all their failures they pleaded guilty – these are investors who call things by their proper names. Phantasma.Io is a SCAM don’t say you weren’t warned.