In the past few days, the veteran public chain Fantom has attracted the attention of the community. Amid the correction of Bitcoin and Ethereum the day before and the general decline in the market, Fantom ranked first on Coingecko's gain list with a 24-hour increase of 4.3%. But in fact, such a signal is not unexpected. In the past month, FTM has increased by more than 146.2%.

Founder AC’s passionate promotion

Fantom’s resurgence is inseparable from Andre Cronje, director of the Fantom Foundation. AC was the DeFi OG in the last bull market and created stars such as Yearn Finance and Phantom. Project, perhaps many are prolific contributors to important projects such as Keep3r Network, Multichain, Chainlist, Solidly and Bribe crv Finance.

Andre Cronje announced his withdrawal from the encryption field in March 22, but later, according to The Block, Andre Cronje never actually left Fantom. Andre Cronje's exit and the news of his "return" to Fantom both played an important role in stimulating FTM's price changes at the time.

Related reading: "Andre Cronje: The Lone Ranger’s Network Odyssey》

In recent months, Andre Cronje’s frequent releases The "good news" about Fantom's ecological progress has also greatly increased investors' expectations for FTM.

On January 9, Andre Cronje stated on social media that Fantom has successfully solved the state inflation problem in the blockchain since the project was founded. One of the core milestones since the early days. State inflation refers to the situation where the storage space required by the blockchain continues to increase over time when processing and storing transaction and smart contract data, resulting in increased storage costs and reduced processing efficiency. .

According to reports, Fantom adopts aBFT (Asynchronous Byzantine Fault Tolerance) consensus mechanism, which does not require the longest chain rule. Once more than two-thirds of the validators know the previous state, all data before reaching that state can be pruned. This means that all data older than two epochs can be pruned.

Fantom also introduces a new database technology, Carmen, which uses flat storage instead of tree or dictionary structures and further significantly reduces the current Active state expansion. Using the above technology, Fantom's state storage requirements will be reduced from approximately 2TB to 60GB.

The day before yesterday, Andre Cronje used a meme to promote Fantom, saying that Fantom Sonic will bring better performance than the parallel EVM path. This move attracted friendly questioning from Jay, the founder of the new public chain Sei, and Toly, the founder of the old public chain Solana, but it also led to a 20% increase in FTM prices.

Fantasy Sonic with high expectations What is it?

On October 25, 2023, the Fantom Foundation announced the launch of its latest technology upgrade, Fantom Sonic, designed to increase the scale and performance of the network. The new upgrades include new virtual machines, enhanced database storage, and optimized consensus mechanisms.

According to reports, Fantom Sonic will replace the previous Opera technology stack and does not require a hard fork to upgrade. Fantom Sonic will enable over 2,000 transactions per second, with an average finalization time of one second and a fraction of the storage requirements of its predecessor, Opera.

Fantom Sonic’s testnet has been running for 5 months and has shown good performance in all aspects of token trading and transmission, and withstanding traffic pressure.

In addition to the regular chain In addition to operational testing, Fantom Sonic also created a maze game, which was launched in an interesting interactive form to allow dApp developers to experience the performance effects of the upgrade.

Fantom Sonic official network The release is planned for spring 2024 and is one of the important developments that the Fantom community and even the DeFi community are looking forward to in 2024. When DeFi researcher Ignas shared the ecosystem he was concerned about, he mentioned that “the fun will begin when the Fantom 2.0 Sonic upgrade is launched early next year.”

Related reading: "Bull Market Degen Money Making Manual (Part 1)"

The purpose of pursuing performance is to bring a richer and more prosperous project ecology to Fantom, although the performance results While it has yet to be finally confirmed, Fantom Sonic has opened up space for the Fantom community to look forward to.

Previously, some people’s impression of the Fantom ecosystem was that only DEX and meme were active. Under AC’s tweet calling for orders the day before yesterday, someone asked “ What do you think is the killer app that can support Fantom’s rapid growth? Don’t tell me it’s a meme.” AC expressed its firm confidence in Fantom Sonic in a long reply, "Just as it is impossible to build modern large-scale applications with 1990's technology today, it is also impossible to build a richer ecosystem with today's blockchain technology."

In his view, Fantom Sonic will make Applications such as gaming, social networking, and streaming media are truly feasible on Fantom.

Just a month ago, Fantom announced the five winning projects of the Sonic Labs Entrepreneurship Accelerator Program, which are sustainable DEX that supports any token as collateral. Project Lynx, social protocol Thunder Dome, P2P lending platform Dēbita, green technology startup KiriCoin and RPG chain game Froqorion. The community is also waiting to see, can Fantom Sonic make these projects stand out in their respective fields?

Unlike 2021, today’s public chain narrative has reached the point of involution. Whether Fantom with the support of AC can achieve greater glory still needs to wait. verify.

Welcome to join the official BlockBeats community:

Telegram Subscription Group: https://t.me/theblockbeats

Telegram Discussion Group: https://t.me/BlockBeats_App

Official Twitter Account: https://twitter.com/BlockBeatsAsia