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What is Sonic $S (prev FTM)?
Sonic (prev FTM) is a decentralized blockchain platform designed to offer high-speed, low-cost transactions with a focus on smart contract execution and DeFi applications. Evolving from its original identity as FTM (Fantom), Sonic leverages its directed acyclic graph (DAG) architecture to achieve fast finality and high throughput.
Sonic aims to empower developers to build decentralized applications (dApps) with unmatched scalability and efficiency, making it a key player in the DeFi and blockchain space.
Who created Sonic (prev FTM)?
Sonic (formerly Fantom) was founded by Dr. Ahn Byung Ik, a South Korean computer scientist. The project launched in 2018 and gained significant traction under the leadership of Michael Kong, CEO of the Fantom Foundation. As the platform evolved, it rebranded to Sonic to reflect its enhanced capabilities and renewed vision.
With backing from blockchain experts and key DeFi investors, Sonic has established itself as a leading high-performance blockchain solution, impacting Sonic price trends and adoption.
How does Sonic $S (prev FTM) work?
Sonic operates on a DAG-based consensus mechanism called Lachesis, which allows for asynchronous, leaderless consensus that is highly scalable and secure. This technology enables near-instant transactions with minimal fees, making it ideal for DeFi, dApps, and NFT platforms.
Key Features of Sonic:
Lachesis Consensus: Ensures fast finality and low latency.
EVM Compatibility: Supports Ethereum-based smart contracts and dApps.
High Throughput: Processes thousands of transactions per second (TPS).
DeFi and NFT Ecosystem: Enables decentralized finance applications and NFT trading.
These features make Sonic a cutting-edge platform for scalable blockchain applications, impacting Sonic (prev FTM) Price analysis and adoption.
Sonic $S Price
Sonic (prev FTM) Price is influenced by network adoption, DeFi integration, and overall blockchain market sentiment.
Factors Affecting Sonic Price: Increased adoption of dApps and DeFi projects on Sonic.
Partnerships and ecosystem collaborations.
Technological advancements and protocol upgrades.
Overall crypto market sentiment and competition from other Layer 1 blockchains.
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Sonic Price [SUSD]
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