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Chasing the Micro Cap Crypto gems #3 Phantasma is Aiming to do it All!

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Micro Cap Gems

Micro Cap Gem

ALERT:  Chasing the Micro Gems series aims to dig up the projects that have a low market cap, decent team and potential to explode in value. These projects pose a high risk-reward ratio so please DYOR before investing.  We invest a small portion as a gamble on these projects. Do what fits you after DYOR.

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A key difference between our Micro Cap gems picks and other outlets is very simple: we do not shill; we just point the positives and not-so positives for you to decide whether a project is a gem or not.

We mentioned this earlier but it bears repeating: DYOR.

Today we are looking at a project called Phantasma that wants to become the SOUL of blockchain space.  

What can Phantasma do?

Phantasma Blockchain

Phantasma claims itself to be the next generation Blockchain platform with its interoperability and NFT (Non Fungible Tokens) protocol built into the code.

If Phantasma were to pull off all its initiatives, this question has to be reframed to: ‘what can Phantasma not do?’

For instance, Phantasma is into:

  • Blockchain solution for content distribution/delivery

Phantasma aims to combine the Proof of Stake with great transactions per second to avoid the scalability issues down the road.

To achieve this, they have unlimited side-chain support and each side chain can run transactions parallely.

  • Oracles

DeFi and Data Oracles seem to be the buzzwords for 2020 craze.  

Phantasma incorporates both of them on their platform.  Phantasma’s inbuilt oracles have been operational since its mainnet launch.

  • Gaming

Phantasma has integrated gaming platform Steam onto the blockchain using Pavillion Hub.  

If you scroll to the Pavillion Hub page, you will see that Phantasma is one of the 3 options they listed for transactions.

Phantasma gaming

  • NFT

Phantasma is built to support the NFTs.  

Most blockchain’s have to either build a layer or tweak their platform to accommodate NFTs but Phantasma has been built keeping NFTs in mind.

NFTs have the potential to be the one of the best use cases for cryptos in the future and Phantasma is looking to be at the forefront of that adoption.

  • Staking

Phantasma is built to be a Proof of Stake protocol.  

To enable a smooth staking without congesting the network, Phantasma uses two coin model.  

Phantasma’s native token SOUL can be staked on the app to generate Energy (K-CAL) at the rate of .002 per 1 SOUL token. 

The amount of SOUL you stake also provides you with the voting rights on the platform.

  • DeFi

Developers can launch DeFi solutions on Phantasma to leverage its fast TPS and low fees.

  • Encrypted email

Phantasma is creating an oracle to fetch emails from centralized servers to encrypt and store on blockchain.  

  • ID

By staking Phantasma token (SOUL) you can unlock the ID feature which lets you use the ID to receive funds into the Phantasma app.

You can use the ID as your email address as well as chat nickname (chat feature is part of the roadmap).

  • Storage

Phantasma’s team has also built a storage solution that lets users create truly decentralized applications on the network.

Apart from what we covered above, Phantasma also has the double token system, Cosmic Swap, ability to tokenize anything on the platform. 

As you can see, Phantasma wants to be the blockchain solution that offers it all.

How will Phantasma derive value?

Each of the use cases and uses require Phantasma tokens and the fact that 40% of Phantasma is already locked in could potentially drive value to the token.

Again, that depends entirely on the success and adoption of the network.

Applying our framework

Let’s see how Phantasma fares under our framework.

Problem

One of the biggest problems in blockchain right now are: Scalability and projects addressing issues in sylos. 

We have separate blockchain solutions for storage, email, oracles, NFTs, ID, and so on.

If the blockchain platform is the ‘enabler’ we don’t see a reason as to why these solutions cannot be brought onto one platform.

Phantasma’s team might have had this same thought because they are building a blockchain platform that can accommodate all of these various needs.

Instead of trying to add layers for an after-thought solution, Phantasma is building ground up for all the use cases.

Team

Sergio Flores who leads the Phantasma crew has extensive experience in technology and specifically in blockchain and related fields.

Other team members include game developers, mobile experts, designers and more.

This team is as impressive as it can get for a micro cap gem.

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Partnerships

Phantasma’s partnership with Pavillion Hub to bring NFTs to the masses is a great move in its mission.

They collaborated with GOATi Entertainment to make this integration possible.

Phantasma Partners

To make cross-chain integration seamless, Phantasma has also partnered with Aleph. This partnership allows Phantasma to “integrate the off-chain Aleph (DeFi) database and data into Phantasma’s dApps and wallets, allowing data to be written on Phantasma Chain”

Addressable market size

The multiplicity of industries that Phantasma is looking to get into opens a wide market in the order of billions of dollars.

NFTs alone has grown from $0 to $200 Million in less than two years and is projected to be a $315 Million business in 2020.   We anticipate that this number will reach a billion dollar market in the coming years.

Revenue model

As a blockchain network, the transactions on the network and the fees exchanged is what goes into the network value.

Similar to Ethereum or other platforms like it, there is no subscription or fees to use the Phantasma platform, however, there are some features that are unlocked using SOUL tokens which in theory bring value to the token.

What do we like?

A project with history

For a project that is under $10 Million, we found that Phantasma has been pretty consistent in its execution of the Roadmap.

Multiple verticals and active team

Unlike other blockchains, Phantasma is looking to solve many issues with one solution. We particularly like the NFT niche, ID and two token system.

Below ICO price 

Right now, Phantasma is below its original ICO price.  The project has been gaining traction for the past 3 months but we believe that there is room for growth.

A great roadmap and consistent execution

One thing that we particularly liked is the consistency with which the team has been executing on its goals.  

You will see from the below roadmap that they have been at this since 2017.  

Please check out the status of their roadmap.

Phantasma Roadmap

Things to consider 

Chasing too many verticals

Phantasma is trying to solve many issues and this could hamper the team’s focus on where they dedicate their resources.

If this leads to a potential bug or inefficiency in the system, that can backfire big time.

Crowded space

There are way too many blockchain solutions in the space (and more will be coming each day).  Will Phantasma stand out with its novel solution is something we will have to wait and see.

Still early

Phantasma launched its mainnet in October 2019 and it is still too early to tell where this project is headed.

We think there are big things in store for Phantasma but that is our opinion.  Someone reading the same information as we did might come to a different conclusion.

Thank you for reading and sharing this article. We appreciate you.

Sources:

https://phantasma.info/

Whitepaper

Stay safe and healthy!

Also read:

Chasing the Micro Cap Crypto Gems #4 – Skrumble Protocol – Why We Changed Our View On This?

Chasing the Micro Cap Gems #2: aXpire, a Blockchain Business with a Working Product

Chasing the Micro Cap Gems #1: TRIAS aims to bring Trust in Technology

Top 5 Cryptocurrencies 2020

best Crypto Tax Software

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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Blockchain Among Technologies to Pave Way to Economic Recovery, McKinsey Report

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Bitcoin Digital Recovery

In a recent report titled “The recovery will be digital” McKinsey forecasts that the post-COVID recovery will be a digital one.

The report specifically talks about Industry 4.0, that is, industry enabled by technological innovations will be at the forefront of economic recovery.

“Data, computational power, and connectivity, such as sensors, the Internet of Things, cloud technology, and blockchain,” the report says.

3 Key Blockchain Insights

Of the three key insights into the blockchain future, McKinsey points out that to realize the strategic value of Blockchain, we have to realize that “Blockchain does not have to be a disintermediator to generate value, a fact that encourages permissioned commercial applications.” 

This is a great insight in terms of gaining cooperation from the established businesses to take Blockchain mainstream.  

The other two insights include:

“Blockchain is still three to five years away from feasibility at scale, primarily because of the difficulty of resolving the “coopetition” paradox to establish common standards.” 

And that, “Blockchain’s short-term value will be predominantly in reducing cost before creating transformative business models.”

Blockchain use cases address two major needs

In opining about the use cases of Blockchain, the report lists 6 uses cases which address two major needs.

The 6 use cases alluded to in the report are: 1) Static registry; 2) Identity; 3) Smart contracts; 4) Dynamic registry; 5) Payments infrastructure; 6) Other 

The two major needs that these use cases address are: 

  1. i) Record keeping: Storing static information
  2. ii) Transactions: Registry of tradeable information

Blockchain’s strategic value is ‘cost reduction’

We see that the blockchain’s impact will be different based on the industry.  While the technology can help increase the revenue in some industries, it helps reduce cost in others.

Overall, blockchain holds the potential to reduce costs in many industries as seen in the chart below.                    

Source: McKinsey

As seen in the chart above, blockchain also has the potential to drive social value in industries like Agriculture.

A major shift in the way we work is coming

The report talks about how there will be a lot of jobs that will be replaced by machines, especially those that involve data collection and predictable ‘physical’ tasks.

As we start relying on more and more things on machines, the need for an underlying secured platform becomes imperative.  

Blockchain can address the ‘how do I trust machines’ dilemma by the very nature of its security and immutability layers.

Conclusion

No one knows what the world will look like after the COVID or answers to these questions:  

Will we have jobs that we had before the pandemic started? 

Will there be a V, W, L or K shaped recovery? 

One thing is becoming clearer by the day and that is that the technology will pave the way forward.  

Blockchain could be a direct beneficiary of a world embracing a technological future.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

best Crypto Tax Software

IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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A Beginner’s Guide on How to Build a Steem Bot

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How to build steem bot

Steemit is the first blockchain-based blogging and social media website that rewards its content creators with the cryptocurrency STEEM when they publish or curate content. 

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Bots were first introduced in the Steem ecosystem in 2016, and have since then come a long way. The most common Steem bot development is done for upvoting posts – in simple as well as complex conditions. A Steem bot developer can create an application over blockchain to perform tasks that are simple, but structurally repetitive. There can be certain pre-programmed conditions under which the bot functions and produces results. If too many conditions are levied, it creates complexity and the bot could run for long periods of time until the specific criterion is met and satisfied. 

Steem bot development involves real-time automation over Steem blockchain with the help of simple APIs. The Steem bot developer can simply bootstrap an automated task with Steem without having much understanding about the node’s mechanism and tricky API.

Steem Bot Development – How to Build a Steem Bot

There are plenty of operations that you can simplify by learning how to make a bot for Steemit. In fact, you can even make money with a Steemit bot if you are adept at building one. This tutorial guides you on how to build a Steem bot that can perform the function of auto-voting. 

  • Outline

An auto-voting bot can automatically upvote posts from the selected list of usernames. When new people join your platform, you can upvote their milestone to encourage them with the help of this Steemit bot. 

  • What You Need

A plain text editor

Your private posting key – this is available in your wallet which can be accessed through the permissions tab on steemit.com. The private key feature allows the bot to vote.

Goals

  • specify a list of usernames (your friends)
  • connect to the Steem-js API
  • check when a new post is posted to the Steem network
  • check if the post belongs to any of your friends
  • send a vote to that post

Once that the basics are outlined for you, let us begin with the development:

Step 1: Set Up

For the purpose of this tutorial, we will have the bot run in the web browser (However, a more effective way to use this bot would be on the command-line, but this one is simpler and a good place to start from for a beginner).

Set up a blank HTML file and link it to the steem.js library. The library does most of the work as most of the commands are already present in it, talks to the Steem network, and means that we need to write very little code ourselves.

<html>

<head>

<script src=”https://cdn.steemjs.com/lib/latest/steem.min.js”></script>

<script></script>

</head>

<body></body>

</html>

You can go ahead and save this file as bot-tutorial.html. Although, if you run this file right now, it’ll only show you a blank screen.

Step 2 – Create a list of Friends

This step will enable you to store a list of names to the code. Whether the names should be up-voted or not can be decided later.

const FRIEND_LIST = [‘June’, ‘Zoe’, ‘Karen’, ‘Sarah’]

Once the bot is running, the list of names cannot be changed. So create an expansive list.

Step 3 – Connect to the Steem-js API

Connect to the Steem network and check all new transactions. Each block on the Steem blockchain holds transactions which can be anything – transfers, votes, comments, profile updates, and many more. Once we connect to the Steem network, we’re sent new data from the blockchain every few seconds. 

The API is very consistent and follows the same set of rules.

Whenever you interact with the steem-js library, specify steem.api and then the action that you want taken. In some cases, actions need to provide extra information. This information is called arguments. 

SteemBot constructor after declaration will provide some methods as events, which you can use to trigger different behaviors for different users. The first argument of every event method is always targetUsers and the second one is handler function. If you omit targetUsers the first one will be handlerfunction.

Targetusers could simply be a string with the username of a Steem account, or it could be an array of usernames. Omitting this parameter will require the event to trigger all users.

Step 4 – Check for the Names in Your Friend List

Once you’ve connected to the Steem-JS library, you need to check if the names that you get from the blockchain match those in your list of friends. To do this, create a function. Functions allow us to create blocks of code that we can reuse over and over.

The function can be created like this:

Friend(name){

  return (FRIEND_LIST.indexOf(name) > -1);

}

Out function takes one piece of data ‘name’ and returns us a yes/no or a true/false answer. 

With the help of this code we are taking our FRIEND_LIST and looking for the index (the position) of the name we entered. If the friend name that we ask for is in the list, it will say 1 or 3 (to show the position at which the name is at) for example if not it says -1. checking if the answer is > -1 gives us our true/false for friends. 

Step 5 – Send Votes

Once the above steps are completed and the structure set up, the final step includes coding to send votes. For this, use the following command:

function sendVote(author, permlink){}

We can create another function which is slightly more complex and specific. In this function, the data we need is the author and the permlink. This function will specify the author and the post that you shall vote on.

function sendVote(author, permlink){

steem.broadcast.vote(ACCOUNT_POSTING_KEY, ACCOUNT_NAME, author, permlink, 10000, function(err, result) {

        console.log(result);

   });

}

With this function, you can enable a ‘steem.broadcast’. The data that you need to share includes the posting key, account name, the author, the link and a voting weight. Note the voting weight does not use percentages so 10000 is the same as 100%.

Finally, you can update the function to add the sendVote function instead of just a message. We’re taking the data from the transaction and using it in our send vote function.

That’s it! With the help of this simple tutorial on how to build a steem bot, your friend’s post will automatically get upvoted in your post.

You can use this simple exercise to create simple function and for steem bot development to help you in making your programs a lot more personalised. The bot will automate repetitive tasks of upvoting content each time without the need for your assistance. The bot will automatically start scrolling and fetching more content, then analyze everything and eventually upvote. Then it will refresh and do it again, and again, and again, and again.

Thank you for reading and sharing this article. We appreciate you.

This is a guest post by Vin Boris.

Author Bio:

SteembotVin Boris is a Social Media Marketer and Content Writer at Steem Blockchain Experts , a Blockchain and Steem currency based development, consulting and marketing firm. Vin Boris has been Outshining in the Blockchain Tech. industry for more than 10 years.

 

Stay safe and healthy!

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IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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FOMO and FUD

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Fomo and FUD

What you can expect to learn?

  • FOMO and FUD Test
  • What is FUD, FOMO and factors causing them
  • Strategies to tackle FOMO and FUD 

Before we begin the article, let’s do something fun. It will take less than a minute. Give a shot at this quick FUD/FOMO test and see how you score.

Fomo Fud Calculator

There are two arch enemies in life in general and trading in particular, and more so specifically in crypto trading life:  Fear of Missing Out (FOMO) and Fear, Uncertainty, Doubt (FUD).

What is FOMO?

When we think that the train is going to leave the station and try to jump on it at any cost, that is parallel to acting out of Fear of Missing Out (FOMO).  

We forget, temporarily, that there are more trains to catch and that the market is here in the long run.

When you fall for the hype and do not follow the facts, like this guy that Jordan Belfort is seen conning in Wolf of Wall Streets.

What is FUD?

When we let negativity and false information drive us out of the market or keep away from good opportunities, we are facing Fear Uncertainty and Doubt (FUD).

A real life example could be, letting some false information blind us completely from reality and lead us to make irrational decisions.

For instance, this gentleman who is reacting to a VR immersion to a totally false reality.

Difference between FOMO and FUD

Crypto trading, for that matter any trading, is a zero sum game.

What that means is, for you to win, someone has to lose.  For you to sell at a profit, someone has to be willing to buy at a higher price.

Is FOMO and FUD bad?

Not all situations of FOMO or FUD bad when they are backed by a process.

For instance, when Chainlink dropped to $1.8 we jumped on the opportunity to buy a few.  At this point, Chainlink was already 600% from its initial listing price a year back.

Because we had done our research and have established our target entry points, buying into an asset that is already 600% high was not a bad decision.

Similarly, when you get disillusioned through research and new information that the project you thought was going to the moon is actually a piece of scrap, it is ok to FUD out.

As long as we keep our rational hats, FOMO and FUD can help us make timely decisions.

What causes FUD and FOMO?

Following blindly

When you choose to simply follow someone’s advice without validating the facts just because someone said it, then you become a victim of FOMO or FUD, depending on what is fed to you.

For instance, take the News channels.  In this day and age, they are mere propaganda promoters.

Many people either are clutched by fear or act carelessly based on what is fed to them.

If these channels say that the market is heading for a crash, people following these sources will take hasty decisions.

When they report something rosy – market responds by going euphoric, irrespective of facts.

This is exactly what we are witnessing today with COVID crippling the economy while the stock market is rallying to new heights each day.

Greed

FOMODuring the 2017 crypto bull run, some people who made millions of dollars couldn’t exit the market because they thought they could time the market.

So they kept playing and lost their gains and in some cases capital to the crash.

Greed generally makes people make irrational decisions that ultimately lead to their own peril. 

Lack of research

Who wants to read a boring 30 page whitepaper when you could let a YouTube influencer give you his opinions?

This convenience has resulted in relying on influencers without understanding the underlying intentions.

Do you know if the influencer has any conflict of interest?

Are you getting an unbiased view of facts or are you just getting biased opinions?

Lack of research is one of the biggest reasons why people are forced into making irrational decisions.

Sensation for facts

In the world that floods us with millions of bytes of information, the one that grabs your attention wins. 

In this race for attention, we have become victims of ‘clickbait’ headlines.

I have read in some forums that people have executed a wrong trade by just reading a clickbait headline only to realize that the actual news was not as rosy or dire.

In the online world of stimulation, sensation sells.

Unfortunately, we cannot make investment decisions based on sensation.

Investment is mostly a boring activity.  It involves reading a lot of dry sources, following through on due diligence, carrying out research, executing decisions and being patient for the right time.

How to tackle FUD & FOMO?

Curiously, the tools to tackle FUD and FOMO are the same, that means, you tackle one and you tackle the other.

Using FOMO and FUD against one another

When you are faced with FOMO, go out and seek negative information on the project that has you in the FOMO grips.  

Create deliberate FUD for yourself.

If you are suffocated by the clutches of FUD, then remind yourself why you were interested in the project in the first place.  

Has anything changed about the project that got you interested in the first place?  

If yes, then you have to simply take the next logical action.  If nothing changed, you can motivate yourself by seeking FOMO angle.

This strategy will help you remain sane while the market goes nuts.

Breath

I am not going all spiritual on you but trust me when I say this helps.

When you are running after or away from something you take short breaths, this is a good indication that you are going to make some hasty decision.

When you are faced with a FUD or FOMO situation: BREATH. 

Consume the information without reacting.  To stay rational, practice conscious breathing and then put your head down to ‘dig for the facts’ before you take the decision.

Research

There are over 6000 projects in the market.  You cannot learn about every project fully.

However, you can learn about a few projects as fully as you can.  This research will help you gain insights that will help you to make the right decisions.

Fundamentals

Technology has changed but us humans have remained the same blob of biology. 

Human nature, gravity, north pole, south pole, have remained unchanged.  

Similarly, the fundamentals of a good project are the same whether you are looking at  a company in the crypto space or traditional space.

Look for these solid fundamentals. If your project has these fundamentals – then the temporary ups and downs should not bother you. 

This will help you sleep better at night.

Beware of confirmation bias

We usually seek out what we want to validate.

Read that again.

We as creatures of habit want to reduce the world to fit our view.  

This is particularly true about our investments.  It is important to consciously seek out contrarian views that of yours.

This will help you gain greater perspective and make all round decisions.

Follow the money

More often than not, mainstream media will be saying one thing and the big money is doing something else entirely.  

Even if the news of FOMO or FUD is true, it is usually an ‘after-the-fact’. 

No one will actually let you in on the secret before they place their bets.  

For instance, someone will talk about how this startup is going to change the world AFTER that company has already gone public.  

This means, the VCs are ready to dump their stocks onto unassuming noobs while they 1000x their seed investment.  

A classic example of this in the crypto space is when JP Morgan publicly condemned Bitcoin and threatened to fire anyone at the firm who buys bitcoin.

Secretly, JP Morgan was buying boat loads of Bitcoin and shortly they even introduced their own cryptocurrency.

In this short video Teeka Tiwari reveals all the hypocrisy of these big players who manipulate the market into FUD and FOMO depending on what benefits their deep pockets.

Thank you for reading and sharing this article. We appreciate you.

Stay safe and healthy!

Top 5 Cryptocurrencies 2020

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IMPORTANT DISCLAIMER

Everything in this article is an opinion, not an advice of any kind. This material has been prepared for general informational purposes only and it is not intended to be relied upon as accounting, tax, investment, legal or other professional advice. Please consult with a professional for specific advice.

We do not endorse or guarantee the accuracy of the information and claims made.

All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

 

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