Fantom’s (FTM) price has surged in recent days, fueled by the highly anticipated Genesis Block of Sonic Chain, a next-generation smart contract platform developed by Sonic Labs.
Sonic Chain’s Genesis Block
On Monday, Sonic Labs announced the successful launch of Sonic Chain’s Genesis Block. This milestone marks a significant step towards the platform’s public mainnet launch. The team has been working diligently to optimize the chain’s performance and scalability, aiming to deliver a high-speed, low-cost, and secure blockchain solution.
Genesis achieved.
— Sonic Labs (prev. Fantom) 💥 (@0xSonicLabs) December 2, 2024
Block zero.
Infrastructure deploying.
Public soon.
Sonic Chain’s Impressive Performance The Sonic Chain testnet, dubbed “Blaze,” has already demonstrated impressive capabilities. It has achieved transaction speeds exceeding 10,000 Transactions Per Second (TPS) with one-second block confirmation times. These figures position Sonic Chain as one of the fastest Layer-1 protocols in the blockchain industry.
Andre Cronje’s Vision for Sonic Chain Andre Cronje, co-founder of Sonic Labs, expressed excitement about the future of Sonic Chain. He hinted at a series of upcoming developments, including the deployment of decentralized applications (DApps) and the revival of Initial Coin Offerings (ICOs) and fair launches. Cronje believes that Sonic Chain will revolutionize the blockchain industry and offer innovative opportunities for developers and users alike.
Also Read: Fantom (FTM) Bullish Breakout -Analyst Forecasts 234% Rally
Fantom Price Soars on Sonic Chain Hype
The positive sentiment surrounding Sonic Chain has had a significant impact on Fantom’s price. FTM has outperformed the broader cryptocurrency market, with its price surging by over 7% in the past 24 hours. Trading volume has also increased substantially, indicating strong investor interest.
As Sonic Chain approaches its mainnet launch, the crypto community eagerly anticipates the platform’s full potential. With its impressive performance and innovative features, Sonic Chain has the potential to become a major player in the blockchain ecosystem.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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