Fantom’s Sonic Upgrade Aims to Revolutionize Blockchain Technology

Fantom co-founder Andre Cronje aims to modernize blockchain technology, emphasizing the need for a significant upgrade.

He points out that current blockchain technology remains stuck in the past, primarily serving financial applications due to the digitization of financial transactions. Cronje’s solution is the implementation of Sonic, a key upgrade to Fantom’s tech stack, designed for speed and efficiency. Fantom, launched in 2019, focuses on enhancing transaction speed and reducing costs.

Sonic will deliver a 65x speed boost to Fantom, streamline node launches, and lower network node storage costs, making blockchain more accessible for everyday users. Cronje’s vision extends to attracting credit card companies and international banks as ideal clients, addressing the challenges of slow, unscalable, and expensive blockchain technology. The Sonic testnet, introduced recently, with a full launch expected next Spring, invites developers to explore and experiment with the network.

Clever Robot News Desk 27^th October 2023