- Fantom has introduced the testnet launch of its subsequent main improve.
- FTM has surged by double digits within the final week.
In a latest blog post, the developer staff behind the main Layer 1 (L1) blockchain community Fantom [FTM] introduced the launch of Fantom Sonic.
At the moment, #Fantom is thrilled to announce the launch of the #FantomSonic testnet setting!
Sonic’s three important upgrades embrace:
• Fantom Digital Machine, which presents drastically sooner sensible contract execution in comparison with the outdated EVM.
• Carmen database storage, which makes use of a… pic.twitter.com/shovQtzMkd
— Fantom Basis (@FantomFDN) October 24, 2023
Based on the announcement, Fantom Sonic represents a significant improve to the Fantom blockchain. It’s an umbrella title for the community’s new know-how stack, which is designed to switch Fantom Opera.
Fantom Opera was launched in 2019 as the primary further layer inside Fantom. It’s an EVM-compatible sensible contract platform and a Proof-of-Stake (PoS) community the place validators use Lachesis to validate transactions and produce new blocks.
Learn Fantom’s [FTM] Value Prediction 2023-24
Right here comes Fantom Sonic
Based on the Fantom Basis,
“Sonic is the following iteration of the Fantom community, with no exhausting fork required for the improve.”
The improve is anticipated to come back with three important options. They embrace the Fantom Digital Machine (FVM), a Carmen database storage, and a special consensus mechanism often known as the Optimized Lachesis consensus mechanism.
The FVM is a brand new digital machine that’s designed to be sooner and extra environment friendly than the present EVM operated on Opera. It will permit Fantom to course of transactions extra shortly and cut back prices for customers.
Additional, Sonic will introduce a brand new database storage engine often known as the Carmen database storage. It’s anticipated to cut back node storage necessities on Fantom and enhance the community’s total efficiency.
Relating to the consensus mechanism on the upgraded community, Sonic will introduce the Optimized Lachesis consensus mechanism.
As famous above, Fantom Opera adopts Lachesis consensus whereby validators on the community can course of transactions independently and asynchronously. Validators will now not have to attend for others to complete processing a block earlier than beginning on the following one.
With an “optimized” model of this mechanism, validating transactions on Sonic has been designed to be extra environment friendly, sooner, and dependable.
Fantom has launched a testnet whereby the community customers can take a look at a few of the new upgrades. Based on the announcement, the mainnet will launch within the spring of 2024.
New demand for FTM climbs to multi-month highs
An evaluation of the every day depend of recent addresses created to commerce FTM revealed an 86% inter day spike between 22 and 23 October.
Reasonable or not, right here’s FTM’s market cap in BTC phrases
Based on information from Santiment, as of 23 October, the variety of new addresses that accomplished FTM transactions for the primary time totaled 371. This was the best tackle depend since July.
Supply: Santiment
This surge was because of the ongoing bullish momentum within the normal crypto market, and it confirmed that demand for FTM was beginning to climb. Exchanging fingers at $0.2293 at press time, FTM’s worth has risen by over 25% within the final week.
Supply: CoinMarketCap