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- Fantom has introduced the testnet launch of its subsequent main improve.
- FTM has surged by double digits within the final week.
In a current blog post, the developer group 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 surroundings!
Sonic’s three predominant upgrades embody:
• Fantom Digital Machine, which gives drastically quicker sensible contract execution in comparison with the previous EVM.
• Carmen database storage, which makes use of a… pic.twitter.com/shovQtzMkd
— Fantom Basis (@FantomFDN) October 24, 2023
In keeping with the announcement, Fantom Sonic represents a significant improve to the Fantom blockchain. It’s an umbrella title for the community’s new expertise stack, which is designed to interchange Fantom Opera.
Fantom Opera was launched in 2019 as the primary extra 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] Price Prediction 2023-24
Right here comes Fantom Sonic
In keeping with the Fantom Basis,
“Sonic is the following iteration of the Fantom community, with no laborious fork required for the improve.”
The improve is anticipated to return with three vital options. They embody 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 quicker and extra environment friendly than the present EVM operated on Opera. This may enable Fantom to course of transactions extra rapidly 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, quicker, and dependable.
Fantom has launched a testnet whereby the community customers can check a number of the new upgrades. In keeping with the announcement, the mainnet will launch within the spring of 2024.
New demand for FTM climbs to multi-month highs
An evaluation of the day by day depend of recent addresses created to commerce FTM revealed an 86% inter day spike between 22 and 23 October.
Practical or not, right here’s FTM’s market cap in BTC terms
In keeping with knowledge 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 common crypto market, and it confirmed that demand for FTM was beginning to climb. Exchanging fingers at $0.2293 at press time, FTM’s value has risen by over 25% within the final week.
Supply: CoinMarketCap
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