Phantasma hopes to create more democratic Internet, ICO coming soon

It’s no news to anyone that the current system of remote centralized services, the so-called cloud platforms and anything-as-a-service, has serious inherent disadvantages like risks from hacks and our data being locked in proprietary closed systems.

On another note, the rise of blockchain technology brought decentralized apps (DApps), more democracy, and possible alternatives along with it. Companies like Phantasma are working on bringing a decentralized and more democratic future to life.

Phantasma team is building an autonomous and decentralized content sharing platform running as a smart-contract network on the NEO blockchain. The team promises to solve the problem of relying on the third-party services, as we involuntarily do today for something as critical and personal as email. Also the Phantasma project intends to give content creators (those making videos, games, music, and other monetized content) their own distribution platforms so that they don’t have to pay third-parties and have an absolute control over the content they create.

The Phantasma ecosystem is planned to have four core services – email, digital commerce, oracles, and video streaming, and will utilize such modules as smart contracts, relay nodes, and Distributed Content Storage (Phantasma Data Filesystem, PDFS).

With Phantasma our email will be decentralized. A Phantasma-based email application has the advantage of being more secure, with the data being completely in control of the inbox owners. Mass adoption of the blockchain requires interoperability between blockchain-based systems and traditional systems. To make this possible, Phantasma mailboxes will be designed to work with standard email addresses, making communication possible between both systems.

Phantasma platform is also a good fit for digital commerce. It will allow sales of digital products, be it videos, videogames or other files, content creators will have full control over how to stream and monetize it.

Besides, any willing developers will be able to create dApps on Phantasma using a Software Development Kit (SDK).

The team plans that initially, Phantasma will run on the NEO blockchain and later on, it will be modified to use the NEOX cross-chain agreement. Then the project will be transferred to another blockchain while retaining interoperability with NEO. As soon as the Phantasma protocol is production ready the plan is that the network will be deployed as its own blockchain, self-sustainable and totally independent from NEO.

At the time of writing, Crowdsale starts in 4 days, on 22 May.

Related News

Paralelní Polis’s “strictly Bitcoin” coffee shop is the world’s first

The popularity of Bitcoin is soaring in Czech Republic. In Prague, there are over 80 brick-and-mortar businesses, including quite

Read-more

Norwegian Air Accepts Bitcoin For Payments & Launch Crypto Exchange

Norwegian Air, a popular Norway low-cost airline founded by Bjørn Kjos in 1993, will start accepting Bitcoin

Read-more

FLOGmall closes “the circle” with a cryptocurrency-only eCommerce store

Spending cryptocurrency in its original form is hard. Before spending their funds, cryptocurrency owners

Read-more

Newegg now accepts Bitcoin in Canada

For several years now Newegg has been accepting Bitcoin payments in the US. Now the company is bringing this payment option to customers in Canada as well.

Read-more