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Fantom Prepares to Launch Sonic, Enabling 2,000 Transactions Per Second

source-logo  beincrypto.com 26 March 2024 08:00, UTC

Fantom is set to introduce Sonic. This is a platform designed to elevate transaction processing capabilities to 2,000 transactions per second (TPS) with sub-second finality.

This development marks a substantial leap from the current capabilities of the Opera network, which achieves a maximum of 200 TPS. Slated for release in late summer or early fall of this year, Sonic represents a major step in Fantom’s evolution.

Fantom’s Sonic Powers 2,000 TPS

The Opera network, introduced by Fantom in December 2019, was hailed for its use of technologies such as Concurrent Common Knowledge (CCK) and Lamport Timestamps, establishing a permissionless DAG-based protocol. This initiative outpaced Ethereum’s then-capabilities, offering a faster and more scalable alternative.

Opera’s growth to over $10 billion in Total Value Locked (TVL) by 2022 reflected its success and wide adoption. Despite its achievements, the Fantom’s Opera network faced challenges, particularly during peak demand, when congestion impacted user experience.

Fantom Total Value Locked. Source: DeFiLlama

Sonic aims to address these issues, offering a solution that promises increased transaction speed and improves Fantom’s infrastructure for both Layer 1 and Layer 2 chains.

“Sonic will be used to create a new best-in-class shared sequencer for L1 and L2 chains, capable of processing over 180 million daily transactions with real, sub-second confirmation times, and serve as the foundation to relaunch Fantom as an entirely new community-centric brand,” Michael Kong, CEO fo the Fantom Foundation, said.

Fantom’s strategy includes a governance proposal focusing on bridging and security enhancements, particularly emphasizing a trust-minimized bridge with Ethereum. This proposal seeks to decentralize and secure transactions while minimizing fees and finality times. Additionally, the plan outlines a shift in staking protocols to facilitate a broader engagement in decentralized finance (DeFi).

Read more: Fantom (FTM) Price Prediction 2024/2025/2030

The announcement also highlights ongoing efforts to foster innovation through the Sonic Labs grant program, supporting developers in various fields, including gaming, DeFi, and social media.