The newly rebranded layer-1 blockchain Sonic (S) is being known as the “golden normal” of layer-2s (L2s) by Andre Cronje, the undertaking’s co-founder.
Cronje claims on the social media platform X that Sonic, previously generally known as Fantom, is the “solely precise decentralized stage 3 L2.”
“No charge extraction, all submits 100% to ETH, no ‘centralized worth extraction’. Decentralized sequencing. Decentralized bridges.
Whereas the remainder of the L2s proceed to pretend fake to ‘decentralize’ (why would they after they get tens of millions of charges per 12 months?), we already did it.
Scaled transactions per second to 16,000+ on the L1. Decreased storage by 98% even on archival nodes. Scaled L1 and jumped to the ‘golden normal’ of L2. Not even mentioning FeeM, FeeSub, and Dynamic Charges.”
A South Korean pc scientist launched Fantom (FTM) in 2018. The undertaking aimed to function a device to mixture good contracts into decentralized functions (dApps).
Final 12 months, the event workforce behind the blockchain introduced a rebrand to Sonic as a means to enhance transaction effectivity.
Traders can commerce of their FTM tokens at a 1:1 price for S tokens, which may have a number of capabilities throughout the Sonic ecosystem.
S is buying and selling at $0.453 at time of writing. The Eighty fifth-ranked crypto asset by market cap is down practically 8.5% previously 24 hours.
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