Fantom has launched an update to its Opera chain, achieving a 66% consensus threshold.
Fantom, which only recently signed a strategic cooperation agreement with Google Cloud, has announced the formal launch of the update to its existing Opera chain. This comes after Fantom reached the 66% threshold consensus level.
Fantom Opera Upgrades to 2,000 TPS
The implementation of the launch date aligns with the assumptions set at the start of Sonic’s testnet phase in October 2023. Fantom is excited about this development because the protocol praises its “diligent progress,” stating that it has maintained its alignment with the roadmap without introducing any new delays.
Fantom declared that it would stick with calling the chain “Opera” even after the introduction of the new Sonic network. As a result of the change, Opera, which has a technology that is superior to that of its competitors, is now capable of processing up to 180 million transactions every single day.
This comes with confirmation times that are less than one second. At this point, we anticipate Opera to assist in accomplishing approximately 2,000 Transactions Per Second (TPS) with a finality of approximately one second. This category includes transactions that are considered complex, mixed, or variable.
Fantom Opera anticipates achieving an estimated 4,000 TPS for token swaps, with a finality time of approximately 1.3 seconds. This allows token transfers to reach a maximum of 10,000 TPS with a finality time of 1.6 seconds. Along with this new improvement, the protocol will see a 66% reduction in storage requirements and a 95% reduction in its operating category.
However, the developers of Fantom are optimistic that the number of transactions will considerably increase while this is taking place. In the event that this indicator increases significantly, the plan is to conduct additional testing and data collection on the network’s enhanced functional capabilities.
We anticipate that this testing phase will assist in providing more feedback and updates on the capabilities of the chain in practice. The launch of Sonic Network is exciting news for the FTM ecosystem.By implementing this upgrade, Fantom ensures that its users have access to its cutting-edge technology, which is a significant step forward.
Launch of Sonic Network Excites FTM Ecosystem
In the near future, the protocol is planning to introduce a number of impending changes and additions, such as tokenomics, audience engagement programs, collaborations, brand, and strategic direction. We are still developing these modifications and additions.
Fantom has persistently sought opportunities to enhance the protocol since the introduction of the Sonic network. The Fantom developer team hinted at the possibility of simultaneously releasing Sonic Labs and Sonic Foundation a little over a week ago.
Sonic Labs will be responsible for the creation and expansion of decentralized applications (DApps) connected to Sonic. On the other side, the Sonic Foundation will now be in charge of the network’s governance as well as its Treasury management.
The release of the most recent upgrade coincides with the FTM’s indication of an impending rebound. According to the data provided by CoinMarketCap, FTM is currently trading at $0.8125, representing a 0.91% increase over the course of the previous twenty-four hours.
Despite the fact that the token has been moving in a sideways direction for some time, market experts and analysts are of the opinion that FTM has extremely promising potential.