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Coinsilium to advise on token generation for ‘smart contracts’ platform

The NEX-listed blockchain investor said FANTOM, who runs the world’s first directed acyclic graph based ‘smart contract platform’, will aim to sell tokens for a total of US$39.8mln
Blockchain
DAG-based protocols are emerging as alternatives to the traditional blockchain model

Coinsilium Group Limited (NEX:COIN) has been appointed as an adviser to ‘smart contracts’ platform FANTOM Foundation ahead of a token generation event (TGE).

The NEX-listed blockchain investor said FANTOM, who runs the world’s first directed acyclic graph (DAG) based ‘smart contract platform’, will aim to sell tokens for a total of US$39.8mln in the TGE which is expected to begin on June 15 this year.

READ: Coinsilium Group to advise on blockchain-based mobile game advertising

The group said FANTOM is aiming to accelerate adoption of distributed ledger technology (DLT) through its offering of a scalable DAG protocol integrating smart contract functionality to enterprise-level clients.

DAG-based protocols are emerging as alternatives to the traditional blockchain model of transaction verification, as they contain the potential for faster transaction times and lower fees while maintaining key aspects of DLT including decentralisation, censorship resistance and immutability.

The FANTOM platform uses a new DAG-based protocol known as the Lachesis Protocol to maintain consensus, and allows applications built on top of FANTOM’s ‘Opera’ Chain to benefit from instant transactions and a near zero cost for users.

Eddy Travia, Coinsilium Group chief executive, said: "I am delighted to be joining the board of advisors of FANTOM, on behalf of Coinsilium. The rate of innovation in this space is quite staggering and we are looking forward to working with their highly talented and ambitious team as they look to develop new DLT solutions with inherent scale and faster transaction times."

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