Fantom (FTM) Unveils Major ‘Opera’ Upgrade As Price Eyes Rebound

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As a seasoned crypto investor with experience in following the Fantom project, I’m thrilled to see the official launch of the Opera chain upgrade. The strategic partnership with Google Cloud and the successful reaching of the 66% consensus level are significant milestones for Fantom.

Recently, Fantom, following its strategic collaboration with Google Cloud, unveiled the formal rollout of Opera’s upgrade, having surpassed the 66% agreement requirement.

Fantom Opera Upgrades to 2,000 TPS

The expected launch date aligns with the timeline established during Sonic’s testnet phase in October 2023. This is a positive development for Fantom, as they take pride in their consistent advancement and maintaining their schedule without encountering any setbacks or pushbacks to their initial roadmap.

With nearly 80% of staked FTM on Sonic nodes, Opera is officially considered UPGRADED!
Our new, innovative technology enables the chain to achieve:
Two thousand transactions per second (TPS) is a reasonable estimate for typical network traffic. Four thousand TPS signifies an increased load due to token swaps. Ten thousand TPS represents a heavy workload from numerous token transfers, and we aim for one-second finality.
We will…
— Fantom Foundation (@FantomFDN) May 29, 2024

Despite the launch of the latest Sonic network, Fantom announced that they would still refer to their chain as “Opera.” With this update, Opera’s advanced technology is capable of handling up to 180 million transactions per day. This impressive feat comes with confirmation times that are under one second.

The expectation now is that Opera will help achieve approximately 2,000 Transactions Per Second (TPS ) at around 1 second finality.  Transactions that fall in this category are those that are regarded as complex, mixed or with variable. For token swaps, Fantom Opera should achieve an estimate of 4,000 TPS at approximately 1.3 seconds finality. Token transfers gets as much as 10,000 TPS at 1.6 seconds finality.

This new advancement is projected to reduce the protocol’s storage needs by approximately 66% during its operation, along with an anticipated equal decrease of 95% in its operational category. Simultaneously, Fantom developers anticipate a substantial increase in transaction volume. With this uptick in activity, further testing and data gathering on the network’s enhanced performance are planned.

As I analyze the current testing stage, I’m excited to gain valuable insights into the practical functionality of the chain. This process will offer essential feedback and up-to-date information regarding its performance.

Launch of Sonic Network Excites FTM Ecosystem

“Fantom’s latest upgrade is designed to make its advanced technology accessible to users. The platform plans to roll out further enhancements, such as token economics, user engagement initiatives, collaborations, rebranding, and a clearer strategic vision, in the coming months.”

After the debut of the Sonic network, Fantom has persistently looked for opportunities to enhance its protocol. Just recently, the Fantom development team hinted at the possible introduction of Sonic Labs and Sonic Foundation. Sonic Labs is slated to oversee the creation and expansion of Decentralized Applications (DApps) associated with Sonic. Conversely, Sonic Foundation will manage the network’s governance and financial resources.

At present, the new update arrives as the Futures Token Market (FTM) is indicating a possible near-term recovery. According to CoinMarketCap, FTM is now priced at $0.8125 and has experienced a minor 0.91% increase in the past 24 hours. The token has been displaying relatively stable trading patterns for some time. Nevertheless, industry professionals and analysts are optimistic about FTM’s prospects.

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2024-05-29 20:36