The newly rebranded layer-1 blockchain Sonic (S) is being known as the “golden normal” of layer-2s (L2s) by Andre Cronje, the mission’s co-founder.
Cronje claims on the social media platform X that Sonic, previously often known 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 faux faux to ‘decentralize’ (why would they once they get tens of millions 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 normal’ of L2. Not even mentioning FeeM, FeeSub, and Dynamic Charges.”
A South Korean pc scientist launched Fantom (FTM) in 2018. The mission aimed to function a device to mixture good contracts into decentralized functions (dApps).
Final yr, the event staff 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 can 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% prior to now 24 hours.
Do not Miss a Beat – Subscribe to get e-mail alerts delivered on to your inbox
Verify Worth Motion
Comply with us on X, Fb and Telegram
Surf The Each day Hodl Combine
 
Disclaimer: Opinions expressed at The Each day Hodl should not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal threat, and any losses you might incur are your duty. The Each day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Each day Hodl an funding advisor. Please word that The Each day Hodl participates in internet online affiliate marketing.
