The newly rebranded layer-1 blockchain Sonic (S) is being known as the “golden customary” of layer-2s (L2s) by Andre Cronje, the venture’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 pretend fake to ‘decentralize’ (why would they after they get hundreds of thousands of charges per 12 months?), 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 venture aimed to function a instrument to combination good contracts into decentralized functions (dApps).
Final 12 months, the event crew behind the blockchain introduced a rebrand to Sonic as a method to enhance transaction effectivity.
Traders can trade of their FTM tokens at a 1:1 price for S tokens, which could 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 almost 8.5% up to now 24 hours.
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