What Is Phantasma Protocol?
The Phantasma Protocol is a new solution for content distribution that works in a decentralized way. The project’s page states that relying on centralized means of storage made by third party companies can always be dangerous because these companies can all be hacked or even suffer bankruptcy, which can cause many problems to the users.
If you create products like videos and music and other types of copyrighted content, you may have to give up a part of your possible revenue and will become locked on a centralized platform if you choose to use them. Why should you use them, though? The change that this company is trying to introduce is to offer a blockchain-based decentralized content distribution solution.
How Phantasma Decentralized Content Blockchain Protocol Works
The Phantasma Protocol uses the NEO blockchain and your cryptocurrency wallet address to work. Basically, it enables you to store your content in your wallet. The content will be fully encrypted, so nobody, not even the people who work at the Phantasma Network, will be able to access it without permission.
The main idea is to create a platform on top of the blockchain in which you can access services and content. The Phantasma Network will even have mailboxes that will work in a similar way of normal emails.
The platform will mix off-chain storage (as the content will be stored on the wallet, not on the blockchain) with on-chain hashing of content. You will be able to use smart contracts to make transactions and all data of everything will be encrypted for your privacy and safety.
Phantasma will have an open SDK so third parties will be able to create their own devices and decentralized apps for the platform. The SDK will be released in the third quarter of 2018 if everything goes according to the plan.
The test net of the company will be released before the end of 2018, but main net and the Phantasma Storage service will only be available by 2019.
Other future features include the Phantasma Digital Commerce Platform, the Service Discover app and video streaming directly from the platform.
Phantasma SOUL Token ICO Details
The Phantasma Protocol is currently having a private sale of its SOUL tokens. All the transactions will be conducted via smart contracts on the NEO blockchain, so be sure to have NEO tokens in order to participate.
The crowdsale will start soon, on May 22. 65,000,000 SOUL tokens from the total supply of 100,000,000 SOUL tokens will be available for sale. The hard cap of the sale is 10 million USD and the price of the SOUL token was not yet divulged at the time of this report. SOUL tokens will be NEP5 tokens compatible with the NEO blockchain.
Remember that you have to be whitelisted to participate in the crowdsale of the SOUL tokens.
Who Is Behind Phantasma?
The three co-founder of the Phantasma Protocol are the Portuguese engineers Sérgio Flores, Miguel Ferreira and the marketeer Alexandre Paixão. Other important members of the team are Sérfio Pereira (business and finances), Bruno Freitas (mobile engineer), Bernardo Punho (QA engineer), Rafael Barbosa (designer) and Arvind Alexander (legal).
The Phantasma Protocol also has four advisors: Laurence Seidler, Neeraj Murarka, Gordon Hall and Fernando Toledano.
Phantasma Protocol Verdict
We did get a good impression out of the Phantasma Protocol. The idea of the company seems very clear, they have a good and informative website and look like a very well structured company. Because of this, we believe that this can be a safe investment for you.