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Fantom Sonic is about to launch, revolutionizing Layer 2 with sub-second trading.
Fantom Sonic will launch a sub-second trading network, how will it affect the Layer 2 landscape?
Recently, the well-established cryptocurrency FTM has once again attracted the attention of investors. In March, the price of FTM soared by 150%, and over the past week, it rose by 30% against the backdrop of an overall market correction. The strong performance of FTM is mainly attributed to two factors:
First, the strong promotion by Andre Cronje of the Fantom Foundation has injected new vitality into Fantom, allowing the market to regain confidence in this established project. Secondly, the upcoming launch of Fantom Sonic is highly anticipated. AC stated that Sonic will surpass "parallel EVM", triggering a disruptive revolution, which further enhances investor confidence.
The Development History of Fantom
Fantom was founded by computer scientist Ahn Byung in January 2018 and later taken over by Michael Kong. The project aims to overcome the limitations of blockchain, balancing scalability, security, and decentralization.
In September 2018, Andre Cronje joined Fantom as a DeFi architect and later became a director of the foundation. AC promoted the multi-chain development of Fantom, adopting the DAG-based Lachesis consensus mechanism to achieve fast, low-cost, and highly secure transactions.
In 2019, Fantom launched its EVM-compatible Opera mainnet, supporting smart contracts and was regarded as the "Ethereum killer." In March 2022, rumors of AC leaving the DeFi industry caused a sharp decline in FTM prices. It wasn't until early this year that AC actively promoted again, reigniting market enthusiasm.
Introduction to Fantom Sonic
Fantom Sonic is an important technological upgrade of the Fantom network, aimed at enhancing the network's scalability and efficiency. The main innovations include:
Fantom Virtual Machine ( FVM ): Provides a more efficient environment for smart contract execution.
Carmen Database: Reduces storage requirements by 90%, improves data management efficiency.
Optimize the Lachesis consensus mechanism: accelerate transaction confirmation and increase throughput.
High throughput and low latency: processing over 2000 transactions per second, with an average finality time of 1 second.
Smooth Upgrade: Fully compatible with the existing Opera network.
The release of Sonic will enable Fantom to possess advanced features such as non-fork upgrades, true parallel transactions, and top-tier TPS, and is expected to capture market share from other public chains.
Fantom Ecosystem Development Direction
Although some community members hope to achieve ecological explosion through the Meme coin craze, Fantom is more suitable for prioritizing the development of the DeFi ecosystem. Currently, DeFi projects account for nearly half of the Fantom ecosystem.
The Fantom Foundation plans to launch a series of DeFi-related initiatives through Sonic, including support for liquid staking tokens, new staking mechanisms, and cross-chain solutions, to enhance DeFi activities.
Fantom Sonic Ecosystem Project
To attract high-quality projects, the Fantom Foundation established the Sonic Labs incubator. The recently announced award-winning projects showcase the appeal of the Fantom ecosystem:
Summary
The emergence of Sonic provides a new approach to solving blockchain scalability. As the most scalable and secure technology of Fantom, Sonic achieves sub-second performance, with transaction speeds surpassing most Layer 2 solutions. This indicates that Layer 1 public chains can also enhance scalability through technological innovation, without having to rely entirely on Layer 2.
With the return of AC, the upgrade of Sonic, and the recovery of the DeFi ecosystem, Fantom is expected to rise again in this bull market, becoming one of the most anticipated projects.