Review on Phantasma by Danh Huỳnh Ngọc Công
Phantasma - Fast, Clean, Privacy, Security, and Trust
Phantasma is built as a system where users manage the distributed contents that claimed to serve their audiences. Fixing the current problems of the platforms delivering digital products or creations, the project aims to the goal of helping a wide range of people using the internet to show, share, or store, etc. their data in a secure and private manner. With blockchain technology as the backbone, Phantasma team properly completes their own targets and also adds more innovative features to their product. In the future, further developments will lead Phantasma to become an independent blockchain which is very fast, user-friendly, versatile and trusted. There are some strengths within this project, and also some drawbacks.
Pros
- Phantasma utilizes NEO blockchain and compatible with NEOX cross-chain; therefore, the speed will be fast, data will be transferred back and forth different blockchains or migrated to more secured ledgers
- Modern mechanism address the problem of ephemeral data which bloats the blockchain
- Phantasma will be open to the new technologies to get the platform more advanced but the complex algorithms will keep it trusted
- The project allows the participation of all users, even incentivizes them with SOUL tokens (the internal token on this blockchain). The incentivization fairness is guaranteed thanks to Phantasma Data File System (PDFS) mechanism
- They listed focused use cases including: decentralized email, oracle services, digital commerce, and video streaming
- SOUL token has high liquidity on various exchanges so it is good for traders
- SDK is available for users to develop their own data storage and it is written in C# (a popular programming language)
Cons
- There are too much competition in the field they are working on
- SDK should be written in more languages to give the access to more developers
- The business model is to similar to many existing projects
