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Coinsilium Appointed to Advise on FANTOM’s US$39.8m Token Generation Event
Coinsilium Group Limited (NEX:COIN), the venture builder, investor and advisor to early-stage blockchain technology companies, is pleased to announce that it has been appointed by FANTOM Foundation (‘FANTOM’) to provide advisory services in relation to its forthcoming Token Generation Event (‘TGE’).
FANTOM, the world’s first Directed Acyclic Graph (‘DAG’) based Smart Contract platform aims to sell tokens for a total of US$39.8m through a TGE due to start on 15 June 2018.
As the importance and implementation of smart contracts increase, there are a growing number of infrastructure projects aiming to provide the foundations upon which these smart contracts can be deployed. DAG-based protocols have emerged as alternatives to the traditional ‘blockchain’ model, with the potential for faster transaction times and lower fees, whilst maintaining key features of distributed ledger technology (‘DLT’) such as immutability, censorship-resistance and decentralisation. As the first DAG-based protocol to integrate smart contract functionality, FANTOM aims to offer enterprise-level clients the functionality and scalability required to accelerate mainstream adoption of DLT.
The FANTOM platform distinguishes itself from traditional block ledger-based storage infrastructure by employing an improved version of existing DAG-based protocols. The FANTOM platform adopts a new protocol known as Lachesis Protocol to maintain consensus. Applications built on top of FANTOM’s own ‘Opera’ Chain benefit from instant transactions and near zero cost for all users.
Commenting on joining the board of advisors at FANTOM, Coinsilium 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.”
The Directors of Coinsilium Group Limited take responsibility for this announcement.
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