Phantasma Protocol is a decentralised content sharing platform that enables application development. Users control and own their own content, and an encrypted email service allows private messaging that not even the Phantasma team can access. The platform will operate on the NEO blockchain, selected for the high transaction speed and second-layer scalability. Phantasma Protocol users will be able to create DApps and manage online content of any kind, as well as storing data on the blockchain.

How does Phantasma Protocol work?

Phantasma Protocol is fuelled by SOUL tokens designed to the NEP5 formal specification. SOUL tokens queue processes and are required for the creation of boxes in the system, which are content hubs for generalised data that act as a data interface and are associated with a NEO address. There are five main elements to Phantasma Protocol. The first is blockchain: Having launched on the NEO blockchain, the project will adopt to the the NEOX cross-chain protocol and from there proceed to fork into a new Phantasma blockchain. The second element is a smart contract that will handle the messaging protocol, data storage, tokens, and distribution during the token sale. The third element is a software development kit that enables DApp creation, initially using the C# language and then introducing others like Javascript. The fourth element is the Phantasma relay nodes adding a second layer of scalability to reduce congestion through off-chain processing, and the fifth is distributed content storage on a variety of backend systems.

Why is Phantasma Protocol unique?

Phantasma Protocol is unique in that it offers content creators true ownership over their content. The platform is decentralized, meaning nobody owns or controls it - Phantasma Protocol will be a largely autonomous platform that runs itself from commands issued and executed by the underlying smart contract. Phantasma Protocol aims to solve the issue of content platforms censoring and controlling user content while charging exorbitant fees, allowing users to monetize their content without including a middleman and with more security than a cloud service.

Who makes up the team behind Phantasma Protocol?

The Phantasma Protocol team are mostly Portuguese developers, and are based in Lisbon. Sérgio Flores is the co-founder and a blockchain consultant who had the idea for Phantasma Protocol after extensive development work on NEO. He has 20 years of experience in business and customer facing software development.The other co-founder is Miguel Ferreira, a senior ‘bigdata’ and compiler developer and blockchain expert. Miguel is an Ethereum developer. Alexandre Paixão is the team marketing expert, and draws on his experience in management and business development to improve public awareness and handle public relations and marketing.

More details about the Phantasma Protocol ICO

The Phantasma Protocol ICO will begin on 22 May 2018 and end on 29 May 2018. The tokens will be distributed in a sale done with a NEO smart contract. Tokens bought during the sale are immediately transferrable after the ICO ends. Participants must be on the whitelist to buy tokens.

The Phantasma Protocol token is called SOUL. The price of a single SOUL token will be $0.23, to be paid in NEO. The soft cap is set at US$3.09 million, and the hard cap is set at US$10 million.

Token distribution:

- 65% available for public and private sale

- 20% for team and investors

- 15% for platform growth and developer incentives

Projected use of contributions:

- 40% marketing and growth

- 30% development

- 20% operations

- 10% legal and contingency

The total supply is 100 million. Any tokens allocated to the public sale that are not sold will be burned.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. It's a mere summary of the details of this ICO. Please conduct your own thorough research before investing in any cryptocurrencies.