PHANTASMA – A NEXT GENERATION CONTENT DISTRIBUTION SYSTEM

For a long time, people have been familiar with traditional file hosting service.
This requires users to rely on third party service for something as critical and
personal as email, photos or videos. Unfortunately, in some cases, companies can
be hacked, and as a result, people can lose all their content. For example, after the
crackdown of Megaupload – a file-sharing website, many users complained that
they had lost all their legal material. Within this context, running on NEO
blockchain, Phantasma appeared as a solution for storing and sharing data with
strong emphasis on privacy and security. Moreover, with just a small amount of
money, people will be able to completely manage their own content.

What is Phantasma and how does it work?

Let’s get into the overview of the project for more information. Phantasma is a
next generation content distribution system, which allows its users to control their
own content instead of relying on third party services.
In other words, the goal of Phantasma Chain is to create a crypto ecosystem that
will protect the confidentiality and security for their user’s content.
Normally, when people create an account on centralized systems such as social
media or content platform, they will agree to allow these platforms to use their
content whenever and however they would like. And in case there is a problem
with the centralized database, their data can be easily hacked and such content
creators usually become locked – in to those platforms with the overhanging
danger of losing the right to control their content. Blockchain then becomes the
perfect solution to tackle this issue. Content creators will have ownerships of their
own content and can grant rights to access their content to anybody by their own
means.
The way Phantasma works is decentralized. As for privacy, all data is encrypted
and no one except its owner will have right to get access and manage it. To
approach the contents stored in Phantasma, user will need private keys. Without
keys, even the developer of Phantasma platform will not be able to read it.
According to the creators of Phantasma, the birth of it came from seeing people
share their data and content over the internet between third party platforms,
without having full control over it. With Phantasma, they want to put the control

back to where it belongs, in user’s hands and create a platform allowing people to
exchange data in a safe and unlimited way.

Phantasma’s potential

With the outstanding system operating on the NEO blockchain, its creator have
intention of using NEOX for interchain compatibility. By this way, Phantasma
will be able to connect to the world.
Starting with email, Phantasma uses it based – mailboxes which is compatible
with normal email addresses and can communicate with email systems outside the
blockchain.
As a decentralized system allowing users to exchange the encrypted data between
dapps, Phantasma is expected to encourage users to develop their works thanks to
the potential of the platform.

Challenges

The problem here is that if people want to use a system requiring tokens or not.
Nowadays, free services such as Gmail or Dropbox has become very popular and
easy to use, so it’s quite hard for Phantasma to persuade users to accept such a
model.
Despite the fact that people pay much attention for protecting their data, agreeing
to pay more money for data confidentiality is a different problem. Besides, many
large technology company have started offering free encrypted messaging and
mail services, which supplies many of the security features that Phantasma offers.

Conclusion

Overall, this project is quite well thought and rated “Very High” on ICO Drops. It
is clear that many influencers support Phantasma. However, when considering
about the supporting level from Internet user for this system, it is quite low.

Exchange rate

Symbol: SOUL
Exchanges: Kucoin, Switcheo, Gate.io…
Market: $0.033031 USD
0.00000848 BTC
0.00482202 NEO
24h Volume Market Cap: $151,210 USD – 38.83 BTC – 22,074 NEO
Returns Since ICO: 0.14x USD 0.76x ETH 0.27x BTC
For more information about Phantasma Chain:

Website: https://Phantasma.io/

Telegram Channel: https://t.me/phantasma_io

Medium: https://medium.com/phantasticphantasma

Twitter: @phantasmachain