{"id":82782,"date":"2024-06-27T08:35:53","date_gmt":"2024-06-27T12:35:53","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=82782"},"modified":"2024-06-27T08:36:38","modified_gmt":"2024-06-27T12:36:38","slug":"fantom-triumphs-as-court-reverses-lower-court-ruling","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/fantom-triumphs-as-court-reverses-lower-court-ruling\/","title":{"rendered":"Fantom Triumphs as Court Reverses Lower Court Ruling"},"content":{"rendered":"\n

The Seoul High Court rules in favor of the Fantom Foundation<\/a> against SikSin and CEO Byung-Ik Ahn, dismissing all claims and overturning previous ruling.<\/p>\n\n\n\n

\"Fantom<\/figure>\n\n\n\n

The Seoul High Court's Civil Division 19-3 has rendered a significant legal victory\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> for the Fantom Foundation in its lawsuit against the Korean food technology startup SikSin and its CEO, Byung-Ik Ahn.<\/p>\n\n\n\n

The appellate court's decision reverses a previous ruling by the Seoul Central District Court, which dismissed all claims made by the plaintiffs and ordered them to bear all litigation costs.<\/p>\n\n\n\n

This case, which involved allegations of plagiarism and unmet service agreements, demonstrates Fantom's commitment to the integrity of its blockchain technology and its independent development work.<\/p>\n\n\n\n

Legal Victory for Fantom<\/h2>\n\n\n\n

Initially, the Seoul Central District Court had ruled in favor of SikSin, awarding them over 198 million FTM. <\/p>\n\n\n\n

However, the Seoul High Court's Civil Division 19-3 reversed this decision.<\/p>\n\n\n\n

The High Court dismissed all claims made by the plaintiffs and directed them to incur all litigation costs.<\/p>\n\n\n\n

Service agreements concerning the technical implementation<\/a> of the Fantom Project and its application in the culinary technology industry of South Korea were the focal point of the dispute.<\/p>\n\n\n\n

In their ruling, the High Court determined that the plaintiffs, SikSin and Ahn, failed to deliver on their contractual obligations, including integrating Fantom\u2019s technology into the food tech industry and producing a viable technical paper for the Lachesis Protocol.<\/p>\n\n\n\n

Furthermore, the court discovered that the plaintiffs had plagiarism in their technical paper.<\/p>\n\n\n\n

The court also observed that Fantom's independent development team was compelled to assume responsibility as a result of these failures.<\/p>\n\n\n\n

Fantom CEO Michael Kong expressed gratitude for the court's comprehensive review, while Fantom's legal team, RosettaLegal, emphasized the case's eventual clarity and complexity.<\/p>\n\n\n\n

Fantom\u2019s Strategic Upgrades & Price Dynamic<\/h2>\n\n\n\n

Fantom has taken the initiative to improve its network, which includes numerous critical enhancements.<\/p>\n\n\n\n

The Directed Acyclic Graph (DAG) protocol has recently announced that Google Cloud<\/a> has been onboarded as one of its main node validators.<\/p>\n\n\n\n

In addition to validating transactions, Google Cloud's function as a node validator will serve to encourage innovation on the Fantom platform.<\/p>\n\n\n\n

Fantom also disclosed the official launch of an upgrade to its current Opera chain, in addition to this strategic partnership.<\/p>\n\n\n\n

This upgrade came after achieving a 66% threshold consensus level.<\/p>\n\n\n\n

The launch date coincides with the expectations set during Sonic's testnet phase, which occurred in October 2023.<\/p>\n\n\n\n

The current price of Fantom (FTM) is $0.5829, with a 0.4% increase in the past hour following the news release.<\/p>\n\n\n\n

The cryptocurrency's 24-hour trading volume is worth $123.6 million.<\/p>\n\n\n\n

However, Fantom (FTM) has experienced a 1.56% increase in the past 24 hours and is currently trading between $0.5857 and $0.5649.<\/p>\n\n\n\n

Fantom (FTM) has a live market cap of $1.6 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Seoul High Court rules in favor of the Fantom Foundation against SikSin and CEO Byung-Ik Ahn, dismissing all claims and overturning previous ruling. The Seoul High Court’s Civil Division 19-3 has rendered a significant legal victory for the Fantom Foundation in its lawsuit against the Korean food technology startup SikSin and its CEO, Byung-Ik […]<\/p>\n","protected":false},"author":56,"featured_media":82796,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[4872,20255,1712],"class_list":["post-82782","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-fantom-2","tag-fantom-ftm-price","tag-south-korea"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/06\/Fantom-Triumphs-as-Court-Reverses-Lower-Court-Decision.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/82782","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=82782"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/82782\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/82796"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=82782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=82782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=82782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}