The Block Crypto News13 minutes ago

Published on March 26, 2024 05:22 GMT+00:00edited on March 26, 2024 05:24 GMT+00:00

Fantom Foundation CEO Michael Kong stated that the project is gearing up to introduce its next iteration, Sonic. 

Sonic promises to process 2,000 transactions per second (TPS) with sub-second finality and is anticipated to launch in late summer or early fall of this year, according to Kong.

It is being developed as the next step after the existing Opera version of Fantom that’s able to facilitate 200 transactions per second. Sonic’s rollout includes plans to enhance DeFi activities on Fantom through support for liquid staking tokens and the expansion of grant programs to fund development.

The team also plans to leverage Sonic as a “shared sequencer” for other Layer 1 and Layer 2 chains — Kong noted. A shared sequencer is a party or protocol that produces blocks for multiple …