NEO DAPP Phantasma, decentralized content distribution system.
The Phantasma project, Strengths and Opportunities.
Phantasma coin is the new digital collectable in the block chain world that gives a reason for every crypto and block-chain enthusiast to smile about. Phantasma mainly focuses on offering a decentralized content distribution system which operates in the block chain world.
The system mostly emphasizes on two aspects - security and privacy.
Phantasma eliminates the dangerous loopholes or centralized storage means – which is known to pose great threats such as companies being hacked and running bankruptcy. As such, with the existence of Phantasma, users are hence guaranteed of more security and privacy of their transactions, communication and data storage.
Phantasma features various aspects, and to understand them, let’s dig deeper when looking on its mode of operation as well as its strengths and opportunities.
How Phantasma Works?
Phantasma works mainly through NEO block chain, the user’s cryptocurrency wallet, open SDK, mixing off-chain storage as well as mailboxes.
In a nutshell, through the NEO block chain, Phantasma enables users to store content in their wallet. With the content being stored in the wallet and rather not in block chain, Phantasma will mix off-chain storage with on-chain which will enable users to use smart contracts in making transactions when their data content is encrypted.
After storage, Phantasma encrypts the content making it secure from unknown access- even those working at Phantasma Network.
Through mailboxes, Phantasma will enable user’s access services and earlier stored content. Even with Phantasma looking much of dismissing third parties, it however has open SDK which enables third parties to create their own devices as well as decentralized apps. It is important to note that, SDK is a new Phantasma feature which will be officially released in 2018 third quarter.
Does Phantasma Have Strengths and Opportunities?
Phantasma has the strength of enabling more privacy and security to users and companies during communication, transaction and data storage. Also, Phantasma has the opportunity of enabling users to communicate with emails and outside the block chain if only Phantasma implement mailboxes especially those that are compatible with standard email address.
Parting Shot Verdict on Phantasma
With Phantasma focusing much on decentralized content distribution way, it has great value in the block chain world- where it enables privacy and security to users and companies in their transactions, communication and data storage. As such, when considering these factors, I place my bet that Phantasma is the coin that every crypto currency and block chain enthusiastic ought to be grateful of.
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