Sonic, formerly known as Fantom, is a blockchain platform that aims to revolutionize the decentralized finance (DeFi) sector. The platform has undergone a complete reboot, introducing a new chain based on innovative technology and a new virtual machine. Sonic is designed to offer faster transaction speeds, lower fees, and improved control for developers.
The platform features a unique consensus mechanism based on Directed Acyclic Graph (DAG) and Proof of Stake. This allows Sonic to process 10,000 transactions per second with confirmation times of less than one second, making it highly competitive in the L2 space. Sonic’s core innovation lies in its ability to reward developers up to 90% of the gas fees generated by their applications, providing them with real control over their projects.
Sonic will launch in December 2024 and compete with other high-speed blockchains like Solana and Aptos. The platform’s main competitors are expected to be Ethereum L2s and chains like Sei and Monad. Sonic aims to attract developers with its unique features, such as the Sonic Virtual Machine and its fee monetization program.
However, Sonic faces strong competition in the fast-growing blockchain space. While its technical improvements are commendable, the platform needs to prove its long-term potential by attracting applications and developers to its network. Sonic’s success will depend on its ability to establish a clear niche and demonstrate the value of its high-performance infrastructure.
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<p>The post Will Sonic Redeem Fantom’s Future in DeFi? first appeared on CoinBuzzFeed.</p>
