The Fantom Foundation declared the formation of the Sonic Foundation to facilitate the introduction and overseeing of its forthcoming Sonic chain.
On the blockchain network’s blog on May 23, Fantom Foundation CEO Michael Kong announced the establishment of the new foundation. Kong composed:
“Our team is steadfast in exploring how the Sonic chain can impact and elevate a number of different DeFi and real-world use cases. Industries and applications such as real-world assets, perpetual DEXs, payments, trading, and high-transaction-based games, can be transformed by the speed and high throughput of Sonic.”
The responsibility of developing the DApp ecosystem, supervising Sonic’s governance, and administering the network treasury will fall under the purview of Fantom’s Sonic Foundation.
As per Kong and the Fantom development team, Sonic will comprise an integrated layer two that directly connects the EVM-compatible network to the Ethereum network and a novel layer-1 solution.
Users of the forthcoming Sonic network will reportedly have access to Ethereum’s immense ecosystem of decentralized applications, liquidity providers, and community via the Sonic Chain’s architecture.
Established in 2019, Fantom presents a distinctive consensus model, Lachesis, which diverges from conventional blockchain networks by incorporating asynchronous Byzantine fault tolerance (aBFT) and directed acyclic graphs.
In contrast to Bitcoin and Ethereum, validators on the Fantom network are not obligated to validate the most recent block. Instead, they are tasked with independently validating blocks and transactions called “event blocks.”
To obtain consensus without requiring blocks to be sequentially validated and ordered, these event blocks are subsequently broadcast to other nodes in a non-linear path.
Once most nodes reach a consensus regarding the contents of the event block, it becomes a root event block on Fantom’s primary chain. The consensus mechanism between nodes is a directed acyclic graph that enables continuous asynchronous communication among all validator nodes. Fantom’s primary chain is an actual blockchain.
According to the Fantom Foundation, this asynchronous communication between nodes enables Fantom to complete blocks in one to two seconds.
