The Fantom Foundation has recently announced that their initial Sonic-technology implementing validator has become operational, signifying a major achievement for their high-performance blockchain network.
Fantom Sonic Built for Scalability
Fantom Sonic technology is developed to tackle the issue of blockchain congestion. Following thorough investigation, Fantom chose to expand upon the base established by the initial Opera network launched in December 2019. The Opera network, spearheaded by Fantom founder Andre Cronje, marked the debut of a permissionless Directed Acyclic Graph (DAG) protocol within the blockchain realm.
This system could handle around 200 transactions per second (TPS) with finality under 600 milliseconds at that point. It showed significant advancements in scalability and transaction speed compared to Ethereum‘s abilities during that period. However, the Opera network encountered difficulties, particularly during periods of heavy traffic or suboptimal user experiences. This led researchers to explore Sonic technology as a potential solution.
The Fantom team has been working on incorporating Sonic technology into their system for approximately two years. Their aim is to surmount the Opera network’s restrictions with this advancement. By implementing Sonic, Fantom demonstrates its dedication to groundbreaking solutions and charts a fresh course for blockchain infrastructure. In the long run, this technology will underpin a communal sequencer, enabling it to handle an impressive 180 million daily transactions and confirm them in real-time.
After announcing the Sonic upgrade a few weeks ago, Fantom (FTM) price significantly increased by approximately 20% and peaked at $1.22. Subsequently, it reached $1.15, causing its market capitalization to surpass $3.22 billion. Prior to this announcement, the coin’s value had been declining. Following the announcement of the live validator, FTM underwent another price surge of around 8%, and currently, it is being traded at $1.
Fantom Recording Several Milestones
In addition to the Sonic validator’s launch, there are other engaging initiatives unfolding within the Fantom ecosystem.
Andree Cronje, the chief developer of Fantom, recently hinted at the possibility of integrating memecoins into their ecosystem. He explained that the team has been diligently working on evaluating various memecoins as part of this plan. This announcement was made during a surge of interest in memecoins.
April 5 saw the introduction of Fantom’s stablecoin, USDC.e, which is pegged to the US dollar and has Circle and Wormhole as its backers. This stablecoin can be linked to USDC and may be upgraded into the native asset in the future. This feature could prove beneficial both for users and developers within the Fantom community.
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2024-04-09 23:36