Sonic is a Layer 1 chain, derived from the Fantom project. Fantom is a L1 EVM chain, with a token in the top 100 coins sorted by marketcap. Designed by Professor Bernhard Scholz and led by Andre Cronje, with both of them being renowned for their skills in blockchain technology. Sonic combines scalability, speed, and low cost with Ethereum's security and liquidity.
Sonic
Infrastructure
Description
Here's how it works:
- Layer-1 and Layer-2 Integration: Sonic merges the benefits of layer-1 and layer-2 solutions. It means that the Sonic chain will be a layer-1 platform that connects to Ethereum via a special layer-2 bridge.
- $FTM and $S Tokens: Sonic supports migration between $FTM (Fantom token) and $S tokens (Sonic native token) on a 1:1 basis. This makes it easy for current token holders to transition to Sonic. Governance-approved compatibility ensures a smooth process.
- High Performance: Sonic's testnet showed impressive results. It handles 2,000 transactions per second with 1-second finality (processing time). Token swaps achieve 4,000 transactions per second with 1.3-second finality. Token transfers scale up to 10,000 transactions per second with 1.6-second finality.
In summary, Sonic offers a blend of speed, scalability, and security. It integrates with Ethereum’s ecosystem while fostering innovation through its foundation and labs.
Team of the Project
Andre Cronje
Core contributor
Andre Cronje is a South African software developer and entrepreneur. He is best known for founding Yearn Finance, a DeFi platform that optimizes cryptocurrency investments by shifting them between various protocols to maximize yield. He also serves as a Director at the Fantom Foundation. Cronje's contributions have significantly impacted the growth and development of the DeFi space.