This was confirmed through its dissemination channels by the Fantom Foundation
The PoS-based, decentralized finance-focused Layer 1 blockchain is gearing up for a massive upgrade in the final quarter of 2024.
Through its broadcast channels, the Fantom Foundation announced an upgrade of the main network, which will now be called "SONIC".
What's new?
Following the announcement, the price of Fantom $FTM has skyrocketed due to the huge improvements brought by the update.
Firstly, it was announced that the network will have the capacity to validate more than 10 thousand transactions per second, ensuring a validation speed of approximately 1 second.
Likewise, the network will have a super-optimized bridge between Sonic and Ethereum.
The bridge will reportedly feature low transaction fees and speeds superior to the competition, ensuring interoperability.
In terms of security, they promise a new escalation in terms of protection against attacks and code vulnerabilities.
A great opportunity?
Absolutely!
The cryptocurrency has been fluctuating positively at the moment, giving its investors excellent profits. The coming days also promise great volatility.
As we get closer to the date when the Sonic network will go live, the 1:1 trading between FTM and Sonic will begin. This will involve the announcement of “FTM will be delisted and operations suspended,” similar to what happened with Matic last week.
How can we benefit?
First of all, it is in troubled waters that the best fishermen shine.
Those who trade intensively, both in futures and using a grid in Spot to take advantage of variations.
But the best opportunity is given to us by the Fantom Foundation itself.
Before the final step towards “Sonic”, the testnet has been opened to the public to test and interact with the Dapps.
If you read my previous article explaining How to benefit from an airdrop you will know that these testnet phases can make us eligible for a possible Sonic airdrop in the future.
Therefore, following Fantom's main channels and interacting on its main page with the Tesnet network can be a positive investment of time, as we could eventually receive rewards.
Conclusions:
The FTM network will soon be upgraded, so we must be on the lookout for future announcements. Mainly when it is announced that the coin is going to be delisted and the price falls, repeating what happened with Matic.
We can take advantage of these moments to make profits, either by trading and investing, or by passively interacting on the Tesnet.
Note: For those who do not know how to use decentralized wallets and interact with main networks, stay tuned for an article to help you soon.
Crypto Citizen says goodbye! Thank you all for your support and have great returns!
