Organization overseeing the development of the Layer 1 blockchain Fantom, Fantom Foundation, announced the release of Fantom Sonic. This release will facilitate the creation of a new shared sequencer for both Layer 1 and Layer 2 blockchains. The new blockchain is scheduled to launch in the late summer or early fall of this year.
A shared sequencer is a party or protocol responsible for generating blocks for multiple rollups concurrently. Essentially, it functions as a pool of sequencers that can be utilized by multiple rollups.
Fantom Sonic can process 2,000 transactions per second (TPS) with sub-second finality representing an evolution from Fantom Foundation’s current Opera network that produces 200 TPS. Moreover, Fantom Sonic can process over 180 million transactions daily, offering real-time confirmation in sub-second intervals.
Fantom Sonic’s introduction encompasses strategies to bolster decentralized finance (DeFi) activities on Fantom by facilitating support for liquid staking tokens and broadening the scope of grant programs to finance development initiatives.
Michael Kong Unveils Sonic’s Launch and Beyond
— Fantom Foundation (@FantomFDN) March 25, 2024
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Sonic will be used to create a new best-in-class shared (decentralized) sequencer for L1 and L2 chains, capable of 180M daily transactions at sub-second finality, and serve as the foundation to relaunch Fantom as an entirely… pic.twitter.com/AFEYxddC09
Fantom Foundation Proposes Governance Proposal and Enhancements with Fantom Sonic Rollout
Fantom Foundation also intends to propose a governance plan focused on new staking mechanisms and an enhanced decentralized and secure bridging solution, enabling users to transfer funds from Ethereum. “We developed a Sonic rollup implementation, integrated as a prominent component in our validator set, to achieve complete decentralization of the bridge. This utilizes our current network security while also inheriting Ethereum’s economic security,” said Michael Kong, CEO of the Fantom Foundation, in a written statement.
With the rollout of Fantom Sonic, the development of a new bridge becomes a crucial infrastructure element for the foundation, especially in light of last year’s security breach involving a cross-chain bridge with Ethereum known as Multichain, which resulted in a loss of $210 million.
Among other suggestions, Fantom Foundation intends to initiate grant programs for developers and a rewards campaign for Opera Network and Sonic Fantom users. Further, Fantom Foundation aims to introduce Sonic Superset, explore zero-knowledge execution scaling, and launch a canonical stablecoin.
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