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The newly rebranded layer-1 blockchain Sonic (S<\/a>) is being called the \u201cgolden standard\u201d of layer-2s (L2s) by Andre Cronje, the project\u2019s co-founder.<\/p>\n Cronje claims<\/a> on the social media platform X that Sonic, formerly known as Fantom, is the \u201conly actual decentralized stage 3 L2.\u201d<\/p>\n \u201cNo fee extraction, all submits 100% to ETH, no \u2018centralized value extraction\u2019. Decentralized sequencing. Decentralized bridges.<\/em><\/p>\n While the rest of the L2s continue to fake pretend to \u2018decentralize\u2019 (why would they when they get millions of fees per year?), we already did it.<\/em><\/p>\n Scaled transactions per second to 16,000+ on the L1. Decreased storage by 98% even on archival nodes. Scaled L1 and jumped to the \u2018golden standard\u2019 of L2. Not even mentioning FeeM, FeeSub, and Dynamic Fees.\u201d<\/em><\/p>\n A South Korean computer scientist launched Fantom (FTM) in 2018. The project aimed to serve as a tool to aggregate smart contracts into decentralized applications (dApps).<\/p>\n Last year, the development team behind the blockchain announced a rebrand<\/a>\u00a0to Sonic as a way to improve transaction efficiency.<\/p>\n Investors can trade<\/a>\u00a0in their FTM tokens at a 1:1 rate for S tokens, which will have multiple functions within the Sonic ecosystem.<\/p>\n S is trading at $0.453 at time of writing. The 85th-ranked crypto asset by market cap is down nearly 8.5% in the past 24 hours.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>  <\/p>\n The newly rebranded layer-1 blockchain Sonic (S) is being called the \u201cgolden standard\u201d of layer-2s (L2s) by Andre Cronje, the project\u2019s co-founder. Cronje claims on the social media platform X that Sonic, formerly known as Fantom, is the \u201conly actual decentralized stage 3 L2.\u201d \u201cNo fee extraction, all submits 100% to ETH, no \u2018centralized value […]<\/p>\n","protected":false},"author":2,"featured_media":362569,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-362567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/362567","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=362567"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/362567\/revisions"}],"predecessor-version":[{"id":362571,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/362567\/revisions\/362571"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/362569"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=362567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=362567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=362567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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