Sonic Blockchain Achieves Record 720ms Finality in Testnet

September 09, 2024 03:20 PM AEST | By Team Kalkine Media

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Sonic Blockchain Achieves Record 720ms Finality in Testnet — Image source: shutterstock

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The Sonic blockchain has demonstrated remarkable transaction finality during its testnet phase, achieving a finality of 720 milliseconds (ms). Transaction finality refers to the point at which a transaction is considered irreversible and securely recorded on the blockchain ledger.

According to Andre Cronje, creator of the {Fantom} (FTM) Network and chief technology officer of Sonic Labs, Sonic is positioned as the fastest Ethereum Virtual Machine (EVM) chain, boasting a true finality of 720 ms. This rapid finality is achieved after the execution of a transaction, which is significantly quicker compared to most blockchains that typically require several additional blocks to ensure non-reversibility.

Cronje, a notable figure in decentralized finance (DeFi) and founder of projects such as Yearn.finance and the Keep3r Network, believes that Sonic has the potential to become the fastest blockchain network by finality if it can maintain this performance level after its mainnet launch.

Currently, Solana holds the title of the fastest blockchain network, with a transaction finality of approximately 12.8 seconds. Despite its 400-millisecond block production times, Solana requires about 31 block confirmations to achieve true finality. In contrast, Sonic’s testnet performance has reached a finality of 420 milliseconds.

Additionally, Sonic aims to attract developers by offering a favorable fee structure. Up to 90% of the network’s transaction fees are redistributed to blockchain developers, creating an incentive for project development on the Sonic platform. The Fantom Foundation has also supported Sonic’s development, including a $120 million token allocation to facilitate the migration of projects from Fantom to Sonic.

The establishment of the Sonic Foundation in May 2023 further underscores this commitment, with responsibilities including governance, network treasury management, partnership orchestration, and the development of the decentralized application ecosystem.

If Sonic maintains its impressive performance on the mainnet, it could set a new benchmark in blockchain transaction finality.

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