The newly rebranded layer-1 blockchain Sonic (S) is being referred to as the “golden customary” of layer-2s (L2s) by Andre Cronje, the undertaking’s co-founder.
Cronje claims on the social media platform X that Sonic, previously referred to as Fantom, is the “solely precise decentralized stage 3 L2.”
“No payment 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 thousands and thousands of charges per yr?), 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 customary’ of L2. Not even mentioning FeeM, FeeSub, and Dynamic Charges.”
A South Korean laptop scientist launched Fantom (FTM) in 2018. The undertaking aimed to function a software to combination sensible contracts into decentralized functions (dApps).
Final yr, the event group behind the blockchain introduced a rebrand to Sonic as a manner to enhance transaction effectivity.
Traders can trade of their FTM tokens at a 1:1 charge for S tokens, which can have a number of capabilities inside 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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