Phantasma is the next-generation messaging protocol, harnessing the power of blockchain. It is characterized by its decentralized, fast, and secure features. It provides a decentralized content delivery system that allows users to control their own content. This is a new way to share emails, photos, invoices, movies, and more. It brings a decentralized content delivery system running on the blockchain, with a focus on privacy and security. Privacy is paramount, so when distributing data, it is all encrypted to ensure no one else can access it. The pricing may not be appealing to the average internet user. However, more attractive is the infrastructure set with vast potential for alternative use cases, and the projects Dapp level is inherent.
Project Introduction
Phantasma is the next-generation messaging protocol, decentralized, fast, and secure, with an emphasis on maintaining the security and privacy of user information. Its system requires burning SOUL tokens. To enhance development efficiency, it will initially be built on the NEO public blockchain, with plans to develop an independent chain later. Additionally, a software development kit (SDK) has been prepared for developers, along with incentive programs for DApp developers.
Project Highlights
Beyond expanding the ecosystem, Phantasma has better opportunities for trading data between dapps using different protocols.
As a means of exclusively exchanging encrypted data between dapps and with an SDK already provided for developers, if the team can attract developers to build on Phantasma, such as a distributed entertainment content network and decentralized e-commerce platforms, they could see widespread adoption, leading to a proliferation of dapps. Of course, this would heavily depend on Phantasmas initial success within the developer community.
Tech Overview
Phantasma offers a content storage platform and a protocol for sending messages through smart contracts. The ultimate goal of the protocol is to provide a framework for data management on dapps. The entire product architecture consists of five main components:
Blockchain: Phantasma will initially launch on the NEO blockchain. The team intends to adopt NEOX for cross-chain interoperability and eventually spin Phantasma into its own blockchain. The team suggests this is the best path to achieve the highest network efficiency.
Smart Contracts: The primary function of Phantasma smart contracts is targeted at the messaging protocol. The smart contract system also handles content storage and token transactions as the fuel for the network.
Software Development Kit: The team plans to release an SDK so anyone can develop their own Dapps using Phantasma. The SDK is a key component in expanding the ecosystem.
Relay Nodes: To create an architecture capable of properly handling data exchange tasks in a decentralized manner, relay nodes will exist on their own off-chain layer between the NEO blockchain and all Phantasma blocks. The inclusion of the off-chain layer aims to facilitate faster delivery of encrypted content.
Distributed Content Storage: The Phantasma Data File System (PDFS) is a decentralized data system that will serve as the storage backend for Phantasma dapps. Users (running Phantasma nodes) can further contribute to the network by running full PDFS nodes.
Phantasma is built on the NEO blockchain, and SOUL will initially be released as a NEP-5 token. Phantasma users need tokens to pay for the data they exchange and to create/update storage space. Developers and contributors receive SOUL for providing storage and network services, and nodes are rewarded for their role in validating the network.
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