The Fantom Foundation, the entity driving the development of the Fantom decentralized network, has recently announced the establishment of a new foundation dedicated to facilitating the upcoming launch of its innovative Sonic chain. CEO Michael Kong revealed the formation of the Sonic Foundation in a blog post on the blockchain network's platform, highlighting the team's commitment to exploring the transformative potential of Sonic across various DeFi and real-world applications.
The newly formed Sonic Foundation will play a pivotal role in overseeing the governance of the Sonic chain, managing its treasury, fostering partnerships, and nurturing the development of the DApp ecosystem. With Sonic, Fantom aims to introduce a Layer-1 solution complemented by a built-in Layer 2 solution that seamlessly integrates EVM-compatible networks with the Ethereum network.
By leveraging Sonic Chain's architecture, users of the upcoming network will gain access to Ethereum's extensive ecosystem, comprising decentralized applications, liquidity providers, and vibrant communities. Originally launched in 2019, Fantom distinguishes itself with its unique consensus model known as Lachesis, which employs directed acyclic graphs and asynchronous Byzantine Fault Tolerance (aBFT).
Unlike traditional blockchain networks where validators work on the latest block, Fantom validators independently validate transactions and blocks, known as "event blocks." These event blocks are then disseminated to other nodes in a non-linear manner to achieve consensus without relying on block ordering. Once a majority of nodes agree on the contents of an event block, it is appended to Fantom's main chain as a root event block.
Fantom's main chain operates as a blockchain, while its consensus mechanism utilizes a directed acyclic graph, facilitating continuous asynchronous communication among verification nodes. The asynchronous messaging between nodes ensures rapid finalization times of 1-2 seconds per Fantom block, enhancing the network's efficiency and scalability.
