According to BlockBeats, the Fantom Foundation announced plans for a new blockchain network, Sonic Network, on May 18. Sonic will be a new Layer 1 blockchain with a native cross-chain bridge to Ethereum. Existing FTM token holders will be able to migrate to Sonic’s native token S at a 1:1 ratio at Sonic’s creation. Sonic will leverage an advanced bridging architecture to provide users and dApp developers with significantly better performance than the existing Opera network.
The Fantom operating company promises to continue to provide validator support for Opera. At the same time, the Fantom Foundation will allocate hundreds of millions of dollars in FTM from the treasury to support the development of the Sonic ecosystem, including marketing, business development, migration funding, etc. Next, the Foundation will launch a series of governance votes to ensure community support for the change plan and jointly shape the future of the Sonic network. Fantom Sonic is a new generation of the Fantom network that will replace the previous Fantom Opera and can be understood as Fantom 2.0. Fantom Opera includes a new client, validator, virtual machine (FVM), Carmen database and an optimized Lachesis consensus mechanism, which will greatly improve the execution efficiency of the original Fantom.