Blockchain
A courageous step towards Blockchain 2.0
Prominent cryptocurrency journalist Colin Wu has just discovered a very important piece of news about the Fantom Foundation. In his post on Wu Blockchain X, Wu revealed that the Fantom Foundation has revealed launch details of its innovative new Layer 1 (L1) blockchain, Sonic Network.
Sonic Network is a big step in the blockchain world, which will facilitate communication by connecting to Ethereum through its own cross-chain bridge. This step is designed to utilize the greater Ethereum ecosystem and at the same time offer Sonic Network users the possibility of unprecedented flexibility and interoperability.
Fantom to Sonic Token Swap Enhances the Future of Blockchain
The transition to Sonic Network will see current FTM token holders migrate to the new Sonic token, referred to as S, at a 1:1 ratio. This migration is, in a sense, positioning Sonic Network as the updated version of Fantom which is also called by its other name: Fantom 2.0. The Fantom Foundation ensures that its community carries out a smooth token exchange by providing it without any friction and, at the same time, maintains the value of their holdings by gaining access to the advanced features of Sonic Network.
This improvement of Sonic Network not only indicates a technical development but also shows the future vision of blockchain technology. The native crossed chain The bridge to Ethereum is the key feature that will facilitate greater cooperation and integration within the decentralized finance (DeFi) ecosystem. By providing an easier way to reach the robust Ethereum network, Sonic Network will attract more developers and projects which will lead to an improvement of the entire blockchain environment.
Sonic Network is Fantom’s new milestone, which would allow it to develop its technology and thus become more interconnected and versatile. This move highlights the foundation’s vision of a future in which blockchain networks will be able to interact seamlessly, thus providing users and developers with a richer and more integrated experience.
The appearance of Sonic Network is the beginning of a new era for Fantom and at the same time is also an introduction to greater technology and strategic cooperation in blockchain interoperability with other goals such as user empowerment.