Somnia EVM Blockchain Releases Detailed New Litepaper

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As a seasoned crypto investor with a knack for spotting promising projects, I can confidently say that Somnia has caught my attention. With its impressive focus on data-intensive use cases and groundbreaking innovations such as Multistream consensus, it seems to be carving out a unique niche within the EVM ecosystem.

Somnia, a high-performance blockchain designed for data-intensive applications that is compatible with Ethereum‘s virtual machine (EVM), has released an updated version of its blueprint or guidebook, known as a litepaper. The latest edition provides information about the project’s main advancements and explains its new Multistream consensus mechanism.

Somnia bets big on Multistream consensus, litepaper hints at 400,000 TPS

In a recent development, Somnia – known for being swift and economical in the EVM blockchain environment – has unveiled an updated version of its whitepaper. This revised document highlights strategic priorities for future expansion and introduces Multistream, a groundbreaking consensus mechanism specifically designed for Somnia.

I’m deeply engaged in the world of cryptocurrencies, and one project that has caught my attention is Somnia Blockchain. This high-performance layer-one blockchain, developed by Improbableio, boasts a staggering transaction throughput of 400,000 transactions per second (TPS) and subsecond finality. The goal here is to bring the entire world’s data on-chain, a truly groundbreaking endeavor that could revolutionize how we handle and utilize data globally.

— Somnia – a Fully Onchain World (@Somnia_Network) October 24, 2024

The Multistream consensus mechanism serves as a strong base for Somnia to handle up to 400,000 transactions each second, achieving near-instant block confirmation. This setup is intended to empower the development of future, large-scale consumer applications.

The recently unveiled litepaper of Somnia outlines its innovative structure, ensuring both high speed and efficiency, all while preserving a strong decentralized framework. This novel design incorporates sophisticated compression methods that boost data transfer between nodes by an impressive 20 times compared to other blockchains, and the Multistream consensus mechanism, which contributes to the blockchain’s ability to reach block finality in less than a second.

Sleep Systems boasts an in-house database known as ICEdb, capable of delivering read and write speeds within the range of 70-100 nanoseconds. This blockchain is designed to excel at sequential single-thread execution, surpassing conventional parallel models, particularly during periods of high transaction volume.

Over the past few months, Somnia has teamed up with Yuga Labs in a long-term strategic alliance. This partnership grants owners of Koda, Otherdeed Expanded, Bored Ape Yacht Club, and Mutant Ape Yacht Club NFTs an additional use for their digital assets.

Somnia launches $10 million grant program for devs

Somnia extends an invitation to all cryptocurrency development teams to take part in its freshly initiated grant scheme, which aims to familiarize a wider community of Web3 developers with Multistream and other advancements.

A 10 million dollar grant initiative is designed to bridge promising Web3 developers with top-tier investors like Mirana Ventures, Spartan Capital, and CMT Digital. This program intends to bolster the efforts of creators who are building substantial, real-time applications spanning gaming, social networks, metaverses, and beyond.

Previously reported by U.Today, the launch of Somnia is set for Q1, 2024. This innovative platform has pioneered the creation of the first blockchain in the multiverse specifically designed for the Ethereum Virtual Machine (EVM) ecosystem.

Somnia originated from the Virtual Society Foundation, an autonomous entity founded by Improvable, a UK-based tech innovator with more than ten years of experience in creating immersive virtual environments.

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2024-10-25 16:42