Fantom Transforms into Sonic: New Standard for Blockchain Development

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Transition from Fantom to Sonic
  2. What the Sonic Upgrade Brings
  3. Initiatives and Airdrops


    4. Sonic Labs, previously known as the Fantom team, announced that Sonic would be the first native integration for on-chain wallet scoring, enabling developers to access a potential $11 trillion market.

    Transition from Fantom to Sonic

    The transition from Fantom to Sonic is not just a technological shift; it also highlights the key role of tokenomics in a project's long-term viability. Sonic Labs, formerly the Fantom team, are introducing the Sonic chain and the S token, designed to replace the FTM token on a 1:1 basis. The Sonic network is an ultra-fast L1 blockchain, and this transition began following an announcement in June 2024, which also included the launch of a $120 million fund in FTM tokens to support developers and projects migrating to Sonic.

    What the Sonic Upgrade Brings

    The Sonic upgrade enhances everything that Fantom has brought to the crypto industry. The first novelty is the increase in throughput on the chain, with speeds of over 2,000 TPS and single-second finality. This places Fantom on par with Solana. The speed increase is achieved via the Fantom Virtual Machine (FVM), which replaces the old EVM model. FVM converts old EVM bytecode into a new virtual machine format, supports super instructions, and optimizes bundles of commonly occurring transaction types. Fantom validators can execute smart contracts with more efficiency and speed, up to 65x faster than old EVM mechanics. Storage requirements are also reduced by 90% due to the Carmen database storage tech.

    Initiatives and Airdrops

    Fantom has launched a strong strategy to attract developers and users to the new network. They will conduct airdrops for early users and reward participants for development efforts. Another program focuses on developers – the Gas Monetization Program, offering rewards for dApps that have been live on the mainnet for more than a month and generate over 15,000 transactions per contact.

    The Sonic upgrade brings significant changes and improvements to the Fantom ecosystem, promising to elevate blockchain to a new level of speed and efficiency.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Solana Ecosystem Tokens Outperform Broader Altcoin Market

chest

Recent performance benchmarks indicate that Solana ecosystem tokens are outpacing the broader altcoin market, highlighting the active internal rotation within the network.

user avatarSon Min-ho

Arbitrum Achieves $814 Million in Daily DEX Volume

chest

Arbitrum has recorded an impressive $814 million in daily decentralized exchange volume, showcasing strong activity on the Ethereum Layer2 network.

user avatarAyman Ben Youssef

Securitize Enhances Tokenization Framework for Public Equities

chest

Securitize has enhanced its framework for tokenizing public equities, contributing to the integration of traditional assets into blockchain infrastructure.

user avatarTando Nkube

Significant Surge in Dogecoin Network Activity

chest

Significant surge in Dogecoin network activity with a 35% rise in active addresses and daily transactions exceeding 12 million.

user avatarKofi Adjeman

XRP Ledger Reaches 3 Billion Transactions Milestone

chest

The XRP Ledger has achieved a remarkable milestone by crossing 3 billion cumulative transactions.

user avatarNguyen Van Long

Cardano's Blockchain Verification Infrastructure Deployed by Major Retail Group

chest

A major retail group has successfully deployed blockchain verification infrastructure built around Cardano's ecosystem, enhancing the verification of authenticity, origin, and sustainability claims within supply chains.

user avatarSatoshi Nakamura

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.