In a significant legal victory, the Seoul High Court's Civil Division 19-3 has ruled in favor of Fantom Foundation against Korean food technology startup SikSin and its CEO Byung-Ik Ahn. The appellate court's decision overturns a previous ruling by the Seoul Central District Court, dismissing all claims made by the plaintiffs and ordering them to bear all litigation costs.

The case, which involved allegations of unmet service agreements and plagiarism, has been resolved in Fantom's favor, vindicating the blockchain project's independent development efforts and the integrity of its Lachesis Protocol technology.

Fantom's Legal Victory

The Seoul High Court's ruling reversed the previous judgment by the Seoul Central District Court, which had initially ruled in favor of SikSin, awarding them over 198 million FTM. The High Court dismissed all claims made by the plaintiffs and ordered them to bear all litigation costs.

The dispute centered around service agreements related to the technical implementation of the Fantom Project and its application in the food technology industry in South Korea. The High Court determined that the plaintiffs failed to deliver on their contractual obligations, including integrating Fantom's technology into the food tech industry and producing a viable technical paper for the Lachesis Protocol. Additionally, the court found that the plaintiffs committed plagiarism in their technical paper.

Fantom's Strategic Upgrades and Price Dynamics

Fantom has been proactive in enhancing its network, which includes several key upgrades. The Directed Acyclic Graph (DAG) protocol recently announced that Google Cloud has been onboarded as one of its major node validators, which will help incentivize innovation on the Fantom platform.

In addition to this strategic partnership, Fantom announced the official launch of an upgrade to its existing Opera chain, following the achievement of a 66% threshold consensus level. The launch date aligns with the expectations set during Sonic's testnet phase, which took place in October 2023.

As of June 27, 2024, Fantom (FTM) trades at $0.5829, with a 0.4% increase in the past hour after the news release. The cryptocurrency's 24-hour trading volume is valued at $123.6 Million, and it has surged 1.56% in the past 24 hours. Fantom (FTM) is currently trading between $0.5857 and $0.5649, with a live market cap of $1.6 Billion.