Fantom’s Sonic Protocol Goes Live on Mainnet, What Next for FTM
The post Fantom’s Sonic Protocol Goes Live on Mainnet, What Next for FTM appeared on BitcoinEthereumNews.com.
Fantom, now rebranded as Sonic Labs, has finally launched the Sonic Protocol, a high-throughput, EVM-compatible layer-1 blockchain platform, on the mainnet. This launch is designed to offer developers attractive incentives and powerful infrastructure to build functional Decentralized Applications (DApps). The Sonic mainnet launch comes after months of development, testing adjustments based on community feedback. Sonic Protocol on Mainnet, What it Means for Crypto Sonic Labs announced the latest development in a blog post and listed the features of the new protocol. This includes the capacity to execute up to 10,000 transactions per second, sub-second finality, and a native decentralized gateway to Ethereum (ETH). Sonic is live. 🔗 https://t.co/X1QgX0kfQk pic.twitter.com/dMD4GgwyXM — Sonic Labs (@SonicLabs) December 18, 2024 Armed with these capabilities, developers can design the next generation of DApps. At the core of this launch is the opportunity to offer users the smoothest blockchain experience. This new milestone places Sonic Labs in a position to compete for more share in the Decentralized Finance (DeFi) and Non-fungible Token (NFT) worlds. In preparation for this mainnet launch, Sonic Labs announced that it had achieved the Genesis Block for its next-generation smart contract chain. This followed the completion of the “testnet 2.0” dubbed Blaze. The Blaze testnet help ascertain the new protocol’s EVM compatibility push. What Next For Fantom? Despite the launch of the Sonic Protocol on mainnet, Fantom price has extended its loss. It is currently trading at $1.23, down by 8.47% in the last 24 hours. Noteworthy, FTM holders can now upgrade their tokens to S on Sonic. This will be completed on a 1:1 basis using the Fantom-Sonic upgrade portal. For instance, 100 FTM after the upgrade is now worth 100 S. This will also open users to diverse Sonic apps, deployed by developers. Users holding their FTM either on Ethereum…
