The decentralized protocol based on DAG (directed acyclic graph), Fantom, is set to upgrade to the new Sonic version, which promises a throughput of 2000 TPS.
Michael Kong Unveils Sonic’s Launch and Beyond
TL;DR
Sonic will be used to create a new best-in-class shared (decentralized) sequencer for L1 and L2 chains, capable of 180M daily transactions at sub-second finality, and serve as the foundation to relaunch Fantom as an entirely… pic.twitter.com/AFEYxddC09— Fantom Foundation (@FantomFDN) March 25, 2024
This marks a tenfold increase from the current 200 TPS provided by the Opera technology, in operation since 2019.
According to Fantom Foundation CEO Michael Kong, the new technical capabilities will enable Sonic to function as a shared sequencer for various blockchains, capable of processing up to 180 million transactions daily.
Kong added that the update will allow the community to consider launching several initiatives, including:
- a native cross-chain bridge with Ethereum based on rollups;
- support for liquid staking;
- the Sonic Labs grant program to support projects in DeFi, gaming, social media, and AI;
- a user incentive campaign;
- a parallel FVM to enhance performance;
- a “canonical stablecoin” for the ecosystem.
Preparations will continue for the launch of “supersets,” which will be implemented through a separate soft fork.
The technical team, led by Andre Cronje, will continue exploring the use of zk-SNARK technology for off-chain execution with on-chain verification, Kong added.
The network upgrade is planned for late summer or early autumn. More detailed information will be provided by the head of Fantom Foundation “in the coming weeks.”
Back in November, the daily transaction volume on Fantom surged to record levels, presumably due to the boom of Ordinals-like tokens in the FRC-20 standard.