Phantasma Chain is a fast, secure and scalable blockchain solution that allows for interoperability with other blockchains while maintaining a decentralized governance system.
With an innovative staking mechanism and dual token system, it allows for users to access different digital goods & services in the areas of communication, entertainment, marketplace and storage.
Phantasma Chain will allow infinite side chains to be deployed. Every dApp on Phantasma Chain will run on its own side chain independently from all other side chains. This removes the risk that one single dApp could shut down the whole network whenever it is being spammed.
The blockchain can validate 10k transactions per block (the maximum block size may be changed in the future to improve network performance). This capacity not only applies to the main chain, but also to every single side chain, which means that every side chain will be able to achieve the same maximum TPS independently from both the main chain and all the other
As a result, the maximum total TPS of Phantasma Chain is the amount of side chains plus the main chain multiplied by the maximum TPS of each chain. Infinite side chains coupled with the inter-chain technology Phantasma implements into its network will allow for all chains to be
connected, which will give developers the power they need to build revolutionary dApps with the supported languages C#, Java, Solidity and Python (support for additional programming languages will be added later).
The Phantasma Chain governance token is called “SOUL” and has an initial maximum supply of 100,000,000 tokens.
SOUL governs the decentralized network of Phantasma Chain, as the staking function gives users and developers the right to use network resources, as well as providing them with a democratic way to choose the network validators that are powering the Phantasma Chain via its on-chain voting mechanism.
Furthermore, to sustain the improvement of Phantasma Chain ecosystem for years to come, we will introduce an inflation added to the maximum supply of 100,000,000 SOUL. The inflation is solely to be used to maximize the quality of the ecosystem and for sustained incentivization of developers to build dApps on Phantasma Chain. The yearly inflation is coded to be 3%:
2% (two-thirds) allocated to Block Producers (network validators)
1% (one-third) allocated to the Phantom Force Foundation (community developers)
The SOUL tokens awarded to Block Producers for validating network transactions are distributed to each Block Producer at the start of each month (along with the SoulMaster rewards later explained in the Whitepaper), which means that the inflation is continuous and
the 2% inflation allocated for Block Producers is only reached when the network completes a full year of operations.
At the same time, the SOUL tokens generated by the annual inflation for the Phantom Force Foundation will be unlocked on a monthly basis (at ½ the rate of the Block Producer rewards), and automatically transferred into the Foundation’s treasury wallet for the decentralized team to collectively decide how to distribute. This way, instead of receiving one lump sum of tokens each year that then have to be managed and allocated to dierent projects by the Foundation, the community driven team will receive in a continuous funding over the the course of the year, allowing for more decentralization of the network development and year-long project development.
How to buy Phantasma (SOUL) in 2020?
If you want to buy cryptocurrencies like Bitcoin (BTC), Phantasma (SOUL) or any other altcoins, you have two options: if you don’t mind KYC (Know Your Customer) policy, you can create an account with CoinBase. Because of KYC policy, the site will ask for various papers like ID, proof of address and so on. If you want to go anonymous, you can create an account with Binance or KuCoin. On those last two sites you won’t need any proof of identity as long as you don’t exchange large amount of cryptocurrencies. Just click on one of the above link and follow some simple steps to open your own crypto account.