FansTime Announces Its Process of Public Blockchain Development
BEIJING, July 25, 2018 (Newswire.com) - FansTime Foundation has announced that FansTime will soon be joining other well-known public blockchain projects in the entertainment industry like IPFS, TRON and more. The internal tests of transaction per second (TPS) rates have hit a range of 3,000-5,000 successfully in July 2018.
Being a public blockchain project means FansTime can now build its fandom ecosystem in a much more independent way without restrictions caused by factors like Ethereum and its high transaction fee (standing at US$2 currently), which isn't conducive for widespread use, not forgetting the long confirmation times and low efficiency.
Having public blockchain would also mean the transaction fees happening on FansTime DAPP (Time Exchange) now could be free in the future once the main net is online and active. And based on the result of the recent internal tests, the speeds will definitely be faster for sure. Also, being a public blockchain serves to be transparent in the crowdfunding platform where fans can make use of their coins and support whichever celebrities they want.
What makes this all possible is the strong technical development team behind FansTime. Mr Ken Huang, the Chief Technology Expert for the World Blockchain Organization, is part of the team as the technical lead and his involvement lends FansTime further credibility. At further MeetUps of FansTime, the community will have a chance to communicate with Mr Huang and other dedicated developer teams directly. When it comes to the technical progression of the public blockchain, FansTime has plans to release related reports on its social media channels so that users can chart its progress.
The difference that FansTime has over Ethereum is that FansTime is a vertical project focusing on the entertainment industry. The challenge for FansTime has always been to provide a platform where everyone can fully explore, develop, nurture and give back to the individual value. With the help of public blockchain, FansTime will be more user-friendly and more expandable. And it goes without saying that both the team and the community members can also work together to develop new anti-fraud rules as well instead of relying on other platforms.
Since the inception till now, FansTime has enjoyed tremendous support and growth from its partners and users alike. They are not resting on their past achievements but looking forward to the future.
Milestones of FansTime
1. FTI is available on four major cryptocurrency exchanges - HADAX, CoinEgg are among the four exchanges FTI is listed on.
2. Released early March of this year, FansTime DAPP user base has reached 120,000 users and once made a breakthrough in single week trading volume up to US$17,987,400 dollars. The total value of signed celebrities time is worth over US$44,968,500 dollars. The Profit Sharing Mechanism was online. All FTI holders can share the profit from daily trading fees generated from FansTime DAPP - Time Exchange.
3. April 2018, FansTime started developing its own public blockchain. Data encryption tools in May, P2P network Architecture in June and July sees them working on the development of Virtual Machine for Smart Contract.
4. FansTime launched the tokenized Idol Group project and it will be opened to every community member for greater engagement in August and September.
5. Look out for the Global MeetUp Tour schedule - Beijing, Shanghai, Seoul, Tokyo and North America - in the upcoming months.
6. Welcome to join the Global Blockchain Elite Forum held by FansTime in Seoul and FansTime International Festival China-Korea Cultural Exchange Night.
For more information, visit:
Telegram Group: http://t.me/fanstimeglobal
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