Forsage Ethereum Smart Contract Blockchain Matrix: Scam or Safe System?

Bitcoin (BTC) is the giant of all cryptocurrencies, as it serves as the foundation of the market. With it's halving event scheduled this year, many are anticipating a soar in altcoin prices. That said, it obviously becomes of interest to find ways to invest and profit from cryptocurrencies. Recently there has been a lot of hype surrounding Forsage. The purpose of this review is to provide a complete breakdown on Forsage and to assess whether or not it is truly legitimate. Here’s what’s been disclosed thus far:

What is Forsage?

Forsage, which means “fast and furious”, found at Forsage.io, is a cryptocurrency multilevel company. As per the claims made, Forsage is the world’s first, 100% decentralized matrix project.

How does Forsage work?

The Forsage marketing platform was allegedly created on a smart contract on the Ethereum blockchain.

Smart contracts like cryptocurrency are decentralized, all agreements and terms of the smart contract are establish before it's execution and can’t be change. Even creators can't cancel or change conditions.

With forsage's decentralized matrix project smart contract, individuals can now engage in personal and business transactions. As for its function, Forsage’s matrix is said to contain small slots with no validity areas. Cycles are then repeated by filling places. In order to fill places, individuals will have to refer others to join. Hence, the multilevel marketing nature of the business.

For a graphic representation and understand how it works, refer to this page to watch the official company video.

According to the offcial website when joining forsage, there are two programs to consider: x3 and x4. In the x3 program, individuals will need to recruit three individuals, whereas in the x4 program, individuals will need to recruit two people, and these two people will have to recruit another two. Upon becoming a member of Forsage, individuals are obliged to run both programs in order to collect their commissions, which increases with each recruited member. The maximum number of slots that can be filled in each program is 12.

How do I get started?

To get started before recruiting members, individuals will have to pay 0.025 ETH for the first slot of each program (with a total of 0.05 ETH). As seen in most multi-level marketing schemes, once the number of members recruited increases, for each additional member, everyone generates income, with the first player getting the most.

What claims have been made in regard to Forsage?

Based on what’s been disclosed on the main website, the following benefits can be taken advantage of:

Zero risk factors: The smart contract found on the Ethereum blockchain cannot be manipulated or modified in any way.

Immutability: This feature offers indefinite access to the Forsage project, which encourages continued participation.

Instant P2P payments: Commission payments are made out every time a new member is recruited.

Nonhierarchically organized: This structure ensures that everyone of varying crypto experience can easily understand and make use of the project.

Transparency and anonymity

Transactional surety: Every transaction made will be recorded by the network nodes within the project.

Is Forsage profitable to consumers?

Based on the unnamed creators behind Forsage, this project has profit generating potential. Turns out there are a total of 72,000 participants in the project, of which 3,425 are new members. The total profit generated since its existence (i.e. February 2020) sits at about 49,287 ETH, with as much as 13,427 ETH made this week alone.

An example of what one’s account looks like has also been shared. Dubbed ID 8125, this individual managed to recruit 14 members with USD$33,620 in their account, which is equivalent to 164 ETH at the time it was shared.

In Conclusion

In summary, Forsage is a multi-level marketing scheme that aims to help individuals make money. However, due to the lack of information and great focus placed on jargon that an average consumer might not comprehend, this service appears to be quite skeptical. For starters, nowhere on the official website have the creators been mentioned. It seems like there also is no way of getting in touch with the team, which is obviously concerning should a problem arise.

Next, it is unclear as to what product or service Forsage offers; not to forget the fact that no one is told who sits at the very top of this pyramid scheme. In addition, no information (i.e. terms and conditions, privacy policy, verification processes, etc.) has been provided in regard to where the funds raised go if recruiters only get as little as 0.025 ETH per person. Ultimately, individuals are strongly recommended to do their respective research, as all signs hint that Forsage is likely a scam.

To learn more on Forsage, visit Forsage.io.