- Sonic Labs launches Sonic, an EVM-compatible Layer-1 blockchain.
- Promises 10,000 TPS with sub-second finality.
- Transition from Fantom to Sonic, $FTM to $S conversion.
Sonic’s Speedy Leap Forward
What is Sonic Blockchain?
Sonic isn’t just another blockchain; it’s designed to be a game-changer. As an EVM-compatible Layer-1 blockchain, Sonic aims to bring Ethereum’s vast developer ecosystem into its fold but with a significant boost in performance.
Sonic boasts the capability to handle up to 10,000 transactions per second (TPS), a monumental leap from current standards where many blockchains struggle to exceed a few hundred TPS. While Ethereum averages around 15 TPS, Sonic’s claim of 10,000 TPS could potentially dwarf most existing blockchains in terms of throughput.
In the world of blockchains, waiting for transaction confirmations can feel like ages. Sonic promises finality in less than a second, making it incredibly appealing for applications requiring instant transaction verifications.
From Fantom to Sonic
Sonic Labs, formerly Fantom, has not only rebranded but also redefined its core technology.
Token Transition
The Fantom token, $FTM, is being converted to the Sonic token, $S, at a 1:1 ratio through the MySonic portal. This move aligns with the new identity and capabilities of Sonic.
Ecosystem Expansion
The transition brings new partnerships and integrations, notably with platforms. Sonic has partnered with BackedFi, Chainlink, and Fortlake Asset Management to tokenize real-world assets, potentially unlocking trillions in value on-chain.
Decentralized Finance (DeFi)
With its high throughput and compatibility, Sonic could become a new hub for DeFi activities, where speed and efficiency are paramount.
© 2024 Cryptopress. For informational purposes only, not offered as advice of any kind.
