Coinspeaker
Fantom (FTM) Up 36% as Sonic Launch Boosts Sentiment

Fantom (FTM), a decentralized Layer-1 blockchain platform is showing signs of strength as it surges to $1.11, up 36% in the Week-To-Date (WTD) move, boosted by sentiments from the protocol’s Sonic launch.

What the Fantom Sonic Technology Represents

According to the announcement, Sonic was created by the Fantom team in response to congestion in the current version of the Opera network. With over $10 billion in Total Value Locked (TVL) in 2022, the Opera network has grown from zero users to one of the most well-known and used networks.

Despite this growth, there were growing pains. The network got clogged and the user experience suffered during periods of high demand.

The team noted that the Sonic technology represents a scalable and secure blockchain technology with the ability to process 2,000 TPS with sub-second finality compared to Opera’s 200 TPS. The Sonic update, according to the Fantom developers, can save network storage requirements by up to 90%. As a result, the Fantom network is now able to compete with other layer-one blockchains, s...