The newly rebranded layer-1 blockchain Sonic (S) is being known as the “golden commonplace” of layer-2s (L2s) by Andre Cronje, the mission’s co-founder.
Cronje claims on the social media platform X that Sonic, previously often called Fantom, is the “solely precise decentralized stage 3 L2.”
“No price extraction, all submits 100% to ETH, no ‘centralized worth extraction’. Decentralized sequencing. Decentralized bridges.
Whereas the remainder of the L2s proceed to faux fake to ‘decentralize’ (why would they after they get hundreds of 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 commonplace’ of L2. Not even mentioning FeeM, FeeSub, and Dynamic Charges.”
A South Korean laptop scientist launched Fantom (FTM) in 2018. The mission aimed to function a instrument to combination good contracts into decentralized purposes (dApps).
Final yr, the event workforce behind the blockchain introduced a rebrand to Sonic as a approach to enhance transaction effectivity.
Traders can trade of their FTM tokens at a 1:1 price for S tokens, which can have a number of features 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% up to now 24 hours.
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