The Fantom community welcomes the Sonic era: transformation or hype?

Recently, Fantom has once again become the focus in the blockchain field. According to the Q1 2024 report released by Messari, Fantom has achieved significant growth in several key metrics: a 101% increase in market capitalization, a 24% rise in daily active addresses, a 59% increase in total DeFi locked value, a 39% increase in stablecoin market capitalization, and a 64% growth in daily DEX trading volume.

In March, Fantom's DEX monthly trading volume surpassed $1 billion for the first time, with an average daily trading volume of $37.9 million. This indicates a significant improvement in the practical application and user demand for the Fantom network.
Additionally, on May 23, the Fantom community passed the first proposal for the Sonic chain, supporting a 1:1 exchange between FTM and the S token. The Sonic plan is set to be released in Q3 2024 and includes specifications for bridging, a simplified staking system, builder grants, reward programs, and stablecoin regulations.
Next, we will explore Fantom's Sonic technology upgrade plan and its initiatives in token economics and ecosystem development.

Introduction to Fantom: A High-Performance Public Chain and Its Innovative Sonic Technology

Fantom (FTM) is a new smart contract platform based on DAG (Directed Acyclic Graph) technology, aimed at solving scalability and efficiency issues in existing public distributed ledger technologies. As a high-performance public chain, Fantom is compatible with the Ethereum Virtual Machine (EVM), primarily applied in DeFi, providing fast transactions and nearly zero fees.
What sets Fantom apart is its use of the Lachesis consensus mechanism, a leaderless asynchronous Byzantine Fault Tolerance (aBFT) algorithm. Lachesis organizes transactions into a local DAG, allowing each node to independently process and confirm transactions, significantly increasing the network's throughput and efficiency. This design enables Fantom to process a large number of transactions quickly and securely without a centralized leader.
With the development of blockchain technology, the Fantom team is committed to continuous innovation and enhancement of network performance. After two years of effort, they have developed Sonic technology. Sonic is Fantom's latest upgrade, aimed at significantly improving the network's processing capacity and user experience. Compared to the existing Opera network, Sonic can achieve a processing capacity of 2000 TPS and instant transaction confirmation.
The design of Sonic not only focuses on performance enhancement but also includes several key features and improvements. First, Sonic will introduce a secure Ethereum bridge, making cross-chain operations more convenient and secure. Second, the staking system will be simplified, with all staking periods unified to 14 days, further enhancing user experience. Additionally, Sonic will expand funding programs to support developer innovation in areas such as gaming and DeFi.
To encourage more user participation, Fantom also plans to launch comprehensive reward activities, including rewards for existing Opera users and new users. Meanwhile, the Fantom team is improving the virtual machine and exploring scaling solutions like zk-SNARKs to further enhance system performance.
In the future, Fantom also plans to introduce regulated stablecoins to enhance its DeFi activities. This series of initiatives demonstrates Fantom's ambition in technological innovation and ecosystem development. Through continuous technological upgrades and community building, Fantom is expected to stand out in the blockchain field and become a leader in high-performance public chains.
Next, we will delve into the details of Fantom's Sonic technology and its potential impact on the blockchain industry.

Sonic Technology Analysis: Fantom's New Engine Driving Blockchain Technology Transformation

Sonic is Fantom's latest technological upgrade, aimed at significantly enhancing the processing capacity and efficiency of the blockchain network. The core advantage of Sonic lies in its combination of advanced consensus mechanisms and optimized data management methods, which significantly improve transaction processing speed and network scalability. Here are some key details of Sonic technology and its potential impact on the blockchain industry.

Core Technical Details

Optimized Consensus Mechanism: Sonic continues to use the Lachesis consensus mechanism but has undergone further optimization. Lachesis is a leaderless asynchronous Byzantine Fault Tolerance (aBFT) algorithm that allows the network to quickly reach consensus without relying on a centralized leader. This improvement reduces information redundancy and increases transaction confirmation speed and network throughput.
Fantom Virtual Machine (FVM): Sonic introduces a new Fantom Virtual Machine, fully compatible with the Ethereum Virtual Machine (EVM) but with higher execution efficiency. The FVM can handle more parallel transactions, thereby improving the execution speed of smart contracts and the overall performance of the network.
Carmen Database: Sonic utilizes the Carmen database to optimize data storage and retrieval efficiency. The Carmen database reduces storage space requirements, allowing nodes to access and process data more quickly, thus enhancing the overall efficiency of the network.
Secure Bridging: Sonic provides a secure Ethereum bridge, allowing users to seamlessly transfer assets between Fantom and Ethereum. This not only improves the convenience of cross-chain operations but also enhances the security of the network.

Industry Impact and Application Potential

The launch of Sonic technology marks a significant advancement in the blockchain industry, with broad application potential:
Enhancing DeFi Activities: The high throughput and low latency characteristics of Sonic make it particularly suitable for DeFi applications. By increasing transaction speed and reducing costs, Sonic can attract more DeFi projects to deploy on the Fantom network, promoting the prosperity of the entire ecosystem.
Supporting High-Frequency Trading and Gaming Applications: The performance improvements of Sonic provide an ideal technical foundation for high-frequency trading and blockchain gaming. Fast transaction confirmations and high concurrency processing capabilities enable these applications to achieve a smoother user experience.
Enhancing Cross-Chain Interoperability: Through secure bridging, Sonic makes asset transfers between Fantom and other blockchains more convenient and secure. This enhanced interoperability helps build a more interconnected blockchain ecosystem, fostering cooperation and development between different networks.
Driving Enterprise-Level Applications: The technical improvements of Sonic enable it to handle large-scale enterprise application demands. From financial services to supply chain management, Sonic provides an efficient, secure, and scalable platform to meet the complex needs of enterprise-level applications.

Transforming the Existing Blockchain Ecosystem

The introduction of Sonic is expected to fundamentally change the existing blockchain ecosystem. By providing higher performance and lower costs, Sonic will attract more projects and users to migrate to the Fantom network. Additionally, Sonic's secure bridging and optimized virtual machine will further enhance Fantom's competitiveness, positioning it prominently in the blockchain industry.
In summary, Sonic technology not only enhances Fantom's technical strength but also brings new possibilities to the entire blockchain industry. With the promotion and application of Sonic, Fantom is expected to become a key force in driving blockchain technology innovation and application.

Community Voting Results Announced: How Will Fantom Embrace the Sonic Era?

On May 23, the Fantom Foundation announced on the X platform that the community has voted to pass the first proposal regarding the upcoming Sonic chain with a 99% support rate. According to the proposal, FTM will be compatible with the new Sonic token S and will achieve a 1:1 exchange upon the launch of Sonic. This move marks the strong support of the Fantom community for the Sonic chain and brings new opportunities for the development of the Fantom network.

Sonic will be a brand new L1 chain, natively bridged to Ethereum and other chains. This design not only enhances network performance but also provides users and DApp developers with a better experience than the existing Opera network. Fantom Operations Ltd is committed to continuing validator support for Opera, while Sonic Operations Ltd will support Sonic, ensuring the stable operation of both networks.
To promote the development of the Sonic ecosystem, the Fantom Foundation plans to allocate hundreds of millions of FTM from its treasury for marketing, business development, and migration grants. The foundation will also initiate a series of governance votes to ensure community support for proposed changes and collaboratively shape the future of the Sonic network. These votes will cover key areas such as airdrops, liquidity, and additional grants, further enhancing community engagement and the sustainable development of the network.
While the launch of Sonic and the passing of the community vote bring new hope to Fantom, the future remains uncertain. Whether the new technical architecture can be implemented smoothly as expected and whether the community can continue to support these changes are key factors affecting the success of Sonic. Additionally, whether Sonic can stand out in the fierce blockchain competition and become a leader in high-performance public chains will also require time and practical testing.
Overall, the Fantom community has demonstrated strong cohesion and confidence in the future through the vote on the first proposal related to the Sonic chain. However, as Sonic technology progresses, Fantom still faces multiple challenges, including technical implementation and market acceptance. On this path of continuous exploration and innovation, the future development of Fantom is filled with infinite possibilities but also accompanied by uncertainties. Let us wait and see the further breakthroughs and growth of Fantom in the blockchain field.