Phantasma

Phantasma (SOUL) – The Decentralized Blockchain Content Distribution System

Phantasma (SOUL) Review

The Phantasma Chain is a quick, safe, and scalable solution that enables interoperability with other blockchains and a decentralized form of governance. It provides consumers with access to digital products and services in the fields of communication, entertainment, marketing, and storage. The aim is to build a dApps ecosystem to be used by individuals in the economic system.

The Phantasma Chain will enable the deployment of endless side chains. Every dApp on Phantasma can operate independently of all other side chains on its own side chain. This eliminates the danger that a single dApp could take down the whole network when spammed. The main Phantasma chain can verify 10k transactions every block, allowing each side chain to reach the same maximum TPS.

What Is SOUL Crypto Token?

The Phantasma Chain is a decentralized network that enables the use of network resources by users and developers. It has an initial quantity of 94,000,000 tokens known as “SOUL”. 3% of total supplies are given annually to block manufacturers (network validators) and 1% to the phantom force (developer community). Instead of getting one lump amount each year of tokens, which must be administered and distributed to individuals, inflation is constant.

How To Earn SOUL Tokens Staking

The Phantasma Chain offers the Phantasma Energy Dual Token System with the KCAL ticker. Energy is the network resource token utilized in all transactions that occur on the chain. Everybody with SOUL starts receiving energy instantly, which is sent to a public address of the choosing of the user. Soul Masters are required to stake a minimum of 50,000 SOULS and will get a CROWN NFT for 90 days from the day of the Genesis block of Phantasma.

Phantasma Chain has taken up the POS version where users are required to become validators (bloc-producers) in the network. Each block-producer gets a portion of the transaction fees to reward their effort as a block-producer. The Phantasma Chain begins with 10 active BPs and 15 standby BPs, with the total BPs increasing every year by 3.

The Phantasma Chain is a decentralized, peer-to-peer network that enables users to vote for a validator who they want to be the following quarter’s active block producer. If no validators are available, the next address with the greatest percentage of votes is active until no seats for the active group are available. The system utilizes the SOUL to determine which validators at the end of each quarter will be active for each quarter. It follows a simple rule to add the address with the majority of votes until no more slots are available.

How The On-Chain Governance System Works

With the advent of the online governance system, Phantasma is a new generation method. This approach makes it possible to parameterize the blockchain in a manner that can modify these rules as long as an agreement is reached for that particular update. All BPs have the same vote power in the Block Producer polls, whereas community polls are dependent on various factors, including SOUL numbers and popularity.

What Is The Phantasma Decentralized Storage Solution?

The Phantasma Decentralized Storage Solution is a decentralized storage solution that allows developers to build full-scale Phantasma Chain applications. No one can prohibit dApps operating as a user from simply providing the dApp data files from decentralized system file storage, rather than on a website. Each file is divided into and distributed over all active BPs, especially one piece of data, which is continuously duplicated and spread across five active BPs (deleted code) until the whole file is disseminated. The greatest decentralization of stored data is guaranteed.

SOUL users will yearly modify the quantity of storage space in accordance with the entire amount of chain storage accessible to current block producers. Without the required private key or permission, nobody will be able to access their data. It is essential to highlight that this storage file solution is not designed for the storage of big files, but rather for customers who respect the privacy of their precious data.

Phantasma Decentralized On-Chain Liquidity Solution

The Cosmic Swap Framework is an online liquidity solution that enables anybody to join the same liquidity pool and a decentralized exchange mechanism. The frame follows a particular structure of integrated capacity for specific wallet addresses in which two distinct tokens are balanced, where the price is decided by their total ratio at the present moment. This address is available to users to swap one of their excess tokens for the token they need, to increase the balance of the first token instantly, and to increase the second.

What Are Phantasma Oracles?

Phantasma builds a real one-stop blockchain environment, yet intelligent contracts can not access data from beyond their own networks. The first generation of oracle systems operate by a simple contract that posts a request to retrieve data and then listens to it from a third-party server, fetches the data, and rejects it. Phantasma provides the power of all next-generation oracles that are completely integrated into the chain and enable everything to be done in one step.

Phantasma is a new platform that enables users to build their own tokens without worrying about finding an external solution. This enables a genuine one-stop platform to be built without relying on other parties. It also eliminates the requirement for numerous tokens for basic transactions that are not dependent on tokens.

Simplified Wallet Addresses

The Phantasma Chain includes a built-in naming system to enable developers to provide the greatest possible user experience and encourage widespread adoption of blockchain technology. The aim is to facilitate the sending of coins and tokens without the need to enter a public address to transfer money or tokens. It also enables users to have a username from which they send and receive tokens.

Phantasma (SOUL) Non-Fungible Tokens

Smart NFT technology enables developers to build digital goods for applications and games and enables users to freely trade these digital items in open markets. Phantasma wants to take the lead by customizing and selecting economic systems depending on which tokens their goods best suit. They collaborate with businesses and developers that wish to benefit from this.

Gaming is a multi-billion dollar business with numerous problems that may be resolved by using the blockchain properly. In contemporary video games, individuals use the game code to create hacks and sell them to other players. The currency in the game may be the most significant aspect of the game. The blockchain secures and checks these assets. This implies that you can’t use the game and the game is thus hack proof.

Even the creators of the game have no more power than one player. The game will feature a decentralized economic structure that no corporation controls. You no longer need an intermediary since this trading functionality may be incorporated into the intelligent contract. Players may make money by playing and exchanging their favorite games.

With NFT technology, the social network may be “gamified” by personalizing avatars and skins. The user may eventually own its contents, because the blockchain enables everyone, obtained from the community, to contribute their original content for incentives. Material power and control belong to the people, not to the platform that the producers utilize to distribute the content.

Projects Linked To Phantasma

Phantasma Energy (KCAL)

KCAL describes it as being part of the dual token system that forms the Phantasma Chain. Developers want to implement energy (KCAL) as a network resource token and charge transaction fees in exchange for using that network resource.

Conclusion

Phantasma is a decentralized blockchain content distribution system intended to give priority to user privacy and security. Phantasma accomplishes what is required in decentralization, improves information security between users, and builds its own protocol intended especially for sharing material of all kinds. The possibilities are endless and because of that, it makes it a project worth following.

Further Phantasma Information

  • phantasma
  • Phantasma
    (SOUL)
  • Price
    $0.320
  • Market Cap
    $33.68 M
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