Sokipiriye Dokubo
Fantom Foundation has introduced the Sonic Foundation to oversee the development and introduction of the new Sonic Chain blockchain.
Introduction to Sonic Foundation
Michael Kong, CEO of Fantom Foundation, unveiled the Sonic Foundation in a blog post on May 23. It will manage the governance, treasury, partnerships, and DApp ecosystem development of the Sonic Chain.
Kong highlighted the transformative potential of the Sonic Chain, envisioning its impact on various DeFi and real-world applications like real-world assets, perpetual DEXs, payments, trading, and high-transaction-based games due to its speed and high throughput capabilities.
Sonic Chain’s Technological Innovations
Sonic is being developed as a layer-1 solution with an integrated layer-2 component, enabling seamless interaction with the Ethereum network and its ecosystem of decentralized applications, liquidity providers, and community resources.
Fantom Consensus Model
Fantom, established in 2019, distinguishes itself with its Lachesis consensus model, which utilizes directed acyclic graphs (DAG) and asynchronous Byzantine fault tolerance (aBFT). Validators independently validate transactions and “event blocks” without sequential block processing, achieving consensus through non-linear broadcast to nodes.
Swift Finality and Network Efficiency
Once a majority of nodes agree on an event block, it is added to Fantom’s main chain with block finality within 1-2 seconds, enabled by asynchronous communication between validator nodes.
Conclusion
The launch of the Sonic Foundation signifies a significant advancement for the Fantom network as it readies the Sonic Chain. With advanced consensus mechanisms and interoperability with Ethereum, the Sonic Chain is set to revolutionize multiple industries with enhanced speed and throughput.