Fantom Unveils Sonic Foundation to Drive Development of Sonic Chain

Fantom Foundation has introduced the Sonic Foundation to oversee the development and launch of Fantom's new Sonic Chain, aiming to enhance speed and throughput for various DeFi and real-world applications. Led by CEO Michael Kong, the Sonic Foundation will manage governance, partnerships, and ecosystem development for the upcoming Sonic network. Sonic will feature a layer-1 solution and a layer 2 bridge directly connecting with the Ethereum network, enabling users to access Ethereum's extensive ecosystem seamlessly. Fantom's existing consensus model, Lachesis, employs directed acyclic graphs and asynchronous Byzantine fault tolerance, deviating from traditional blockchain structures. Validators on the network independently validate transactions and blocks, which are broadcast in a non-linear fashion to achieve consensus. This asynchronous communication enables Fantom to achieve rapid finality, with a block time of 1-2 seconds.