Fantom Introduces Sonic: Elevating Transaction Processing Capabilities
Fantom is set to revolutionize transaction processing capabilities with the introduction of Sonic. This platform is designed to elevate transaction speeds to an impressive 2,000 transactions per second (TPS) with sub-second finality, marking a significant advancement for the Fantom network. Scheduled for release in late summer or early fall of this year, Sonic represents a monumental step in Fantom’s evolution.
Fantom’s Sonic Powers: 2,000 TPS
The Opera network, which was unveiled by Fantom in December 2019, garnered acclaim for its utilization of cutting-edge technologies like Concurrent Common Knowledge (CCK) and Lamport Timestamps. By implementing a permissionless DAG-based protocol, this initiative surpassed Ethereum’s capabilities at the time, offering a faster and more scalable alternative.
- Opera network experienced rapid growth to over $10 billion in Total Value Locked (TVL) by 2022
- Despite its success, Fantom’s Opera network encountered challenges during peak demand, leading to congestion issues
Sonic: Addressing Challenges and Enhancing Infrastructure
Sonic aims to tackle these challenges head-on by providing a solution that not only boosts transaction speeds but also enhances Fantom’s infrastructure for both Layer 1 and Layer 2 chains.
“Sonic will be used to create a new best-in-class shared sequencer for L1 and L2 chains, capable of processing over 180 million daily transactions with real, sub-second confirmation times, and serve as the foundation to relaunch Fantom as an entirely new community-centric brand,” Michael Kong, CEO of the Fantom Foundation, said.
- Fantom’s strategy includes a governance proposal focusing on bridging and security enhancements
- Emphasis on establishing a trust-minimized bridge with Ethereum to decentralize and secure transactions while reducing fees and finality times
- Plan to shift staking protocols to encourage wider participation in decentralized finance (DeFi)
Fostering Innovation Through Sonic Labs Grant Program
The announcement also emphasizes ongoing efforts to drive innovation through the Sonic Labs grant program. This initiative supports developers across various sectors, including gaming, DeFi, and social media, fostering a dynamic ecosystem of creativity and advancement.
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