• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Monday, June 23, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

Fantom: The Vision of a Decentralized Future

Jordan Avery by Jordan Avery
February 9, 2024
in Fantom
Reading Time: 4 mins read
0
fantom-ftm-foundation-today-2024 1
Share on TwitterShare on Facebook

The CEO of Fantom, Michael Kong recently shared some insights about the company’s strategy to construct a decentralized future. He also spoke about the role of Sonic and the network’s approach to achieving consensus. 

Fantom: Achieving Scalability With The New Tech

A relentless pursuit of innovation has marked Fantom’s journey into the blockchain industry. Kong clarified that the release of Fantom Sonic aims to “dramatically enhance” the Lachesis consensus protocol. This improvement enables Fantom to process over 2,000 transactions per second with a one-second confirmation time. Such performance exceeds Ethereum’s and establishes a new industry standard for transaction speed and efficiency.

kong-fantom-ceo-sonic
source: reddit.com

“There is a tradeoff between increasing the number of validators and the network’s performance. On average, the more validators in the network, the longer it takes to achieve consensus. However, the release of Fantom Sonic significantly enhances our Lachesis consensus protocol… Even if the number of nodes increased dramatically, confirmation times will still likely be very low,” Kong said.

Elevating Fantom’s Security with The Consensus Model

The core of the protocol’s architecture is grounded on the Proof-of-Stake (PoS) mechanism. It is secured by a consensus model necessitating two-thirds of the total staked FTM for transaction confirmation. The network ensures security against potential threats, reinforcing its reliability and trustworthiness with roughly 1.4 billion FTM currently staked and a total locked (TVL) of $67.46 million,

Improving Network Performance with Fantom Sonic

On the other hand, Fantom Sonic, the network’s new tech stack, introduces a Fantom Virtual Machine (FVM). According to Kong, it aims to diminish storage requirements and boost transactions per second throughput significantly. It is compatible with Solidly and Vyper programming languages, facilitating a transition for developers familiar with Ethereum, fostering a more inclusive and adaptable ecosystem.

“The new mechanism will have Proof-of-Safety, liveness, and robustness. However, the upcoming launch of Sonic on the mainnet signifies a leap forward, promising to elevate network performance to unprecedented heights. Fantom’s long-term vision includes exploring new theories and scaling solutions to accommodate increasing nodes without compromising performance.

How to Achieve Real Decentralization?

Addressing the subject of decentralization, Kong shared that there is “no precise level of decentralization”. He highlighted the expectation for a more evenly distributed staking system as the network grows. This model advocates for a more secure and decentralized environment while keeping validators incentivized by economic rewards to maintain network integrity and trust. “Like many other networks, the number of staked tokens is unequal across validators. While we anticipate more nodes joining the network, some nodes will still have significantly more staked FTM than others. That said, validators have an economic interest in preserving trust in the network,” Kong added.

Hence, Fantom’s strategy extends beyond technological advancements, focusing on community and validator engagement. The anticipated reduction in the cost of running a validator node under Fantom Sonic aims to democratize network participation, inviting smaller validators to contribute to and benefit from the ecosystem’s growth.

Looking Forward

Kong anticipates substantial advancements in zero-knowledge proofs and technologies poised to enhance network security and scalability further. He concluded that collaboration with the appropriate team is crucial for success in the cryptocurrency industry. “The most important advice I can offer is to collaborate with the right individuals – those with the skills you need for your project, integrity, honesty, and the capacity to be a team player. Without the right individuals, it will be significantly harder to make the type of impact you desire,” Kong added.

Tags: collaborationconsensus protocoldecentralizationDecentralizedFantom SonicFantom Virtual MachineFVMnetwork securityPoSProof-of-Stakevalidator engagement
Previous Post

Dymension (DYM) Price Jumps 30%

Next Post

NEAR Protocol Collaborates with D3 to Get the .Near Top-Level Domain

Related Posts

Can Sonic Save Fantom from Falling?
Fantom

Fantom Drops Hard Before Token Swap

January 11, 2025
Why Fantom’s Rebranding Could Spark a Massive Rally
Fantom

FTM Could See a Big Price Jump

January 7, 2025
_Fantom Community Sonic Network FTM Migration Blockchain Development Governance Voting Token Migration 1
Fantom

Fantom Foundation’s Community Approves First Sonic Proposal With 99% Support

May 23, 2024
Fantom Foundation, Sonic Network, Layer-1 Blockchain, Ethereum Bridge, Token Migration, Price Surge
Fantom

Fantom Unveils Sonic Network Plans, Will FTM Keep Soaring? 

May 21, 2024
Fantom Surge Network Upgrades Blockchain Development Technical Analysis Crypto Momentum DeFi Future 1
Fantom

Fantom (FTM) Surges 30% on Back of Ecosystem Upgrades and Favorable Market Conditions

May 17, 2024
fantom Sonic, Sonic Labs Future
Fantom

Fantom Ecosystem Flourishes: Gas Monetization Program and Developer Rewards

May 12, 2024

Press Releases

Bitcoin Price Survives Israel-Iran Tensions, Hack, and $200B Meltdown
News

Bitcoin Price Survives Israel-Iran Tensions, Hack, and $200B Meltdown

by Alex Mercer
June 19, 2025

Introduction Bitcoin has seen plenty of drama over the years, but this time, even with war looming and a cyberattack...

Read more
What you will get:  Simple steps to start trading cryptocurrencies like Bitcoin and Ethereum How to choose a reliable crypto exchange with low fees and strong security Key tips to read crypto price charts and manage trading risks How to stay updated with market-moving news and practice safely before investing Introduction Cryptocurrency trading has exploded in popularity as an easy way to earn online. With simple guidance you can start trading Bitcoin Ethereum and other altcoins using your phone or computer. This guide gives clear steps for beginners. What Is Crypto Trading and How Does It Work Crypto trading is buying and selling digital currencies like Bitcoin Ethereum Cardano or Solana to make a profit. You buy when prices are low and sell when they go higher. There are two main trading types: Spot trading: You own actual coins. Derivatives trading: You trade based on price movements without owning coins. Spot trading is perfect for beginners because it’s more straightforward and less risky. Step 1 Choose a Reliable Crypto Exchange Select a trusted crypto exchange. Popular beginner-friendly options: Binance: Low fees and many altcoins Coinbase: Easy for beginners with strong security Kraken: Great support and euro compatibility Bybit: Simple interface with spot and futures Look for: Easy sign up and verification Strong security (2FA, cold storage) Low trading fees and fast euro or fiat deposits Wide selection of coins and high volume Step 2 Learn Crypto Chart Reading Reading price charts will improve your crypto trading success. Key concepts: Trend lines: Overall up or down movements Support levels: Prices where value tends to bounce up Resistance levels: Prices where value tends to slow or reverse Start with basic charts like candlestick charts. Many platforms like Binance and Kraken offer built-in guides. Step 3 Manage Risk and Use Stop Losses Crypto prices are very volatile and can change fast. Protect your investment by: Investing only what you can afford to lose Using stop-loss orders to sell automatically at a set lower price Not risking more than 1–2% of your portfolio on any trade This risk management helps you stay in the game long term. Step 4 Stay Updated with Real-Time Crypto News Crypto markets respond instantly to news. Use reliable sources like Vr Soldier, CoinDesk, CoinTelegraph and The Block. Track: Bitcoin ETF decisions New coin listings on exchanges Regulatory changes Major partnerships and developments Following crypto news helps you predict good entry and exit points. Step 5 Use Demo Accounts to Practice Many exchanges like Binance and Bybit offer demo accounts or testnets. Practice trading with virtual money first. This helps you learn: How orders work Chart reading in real time Trading fees and order types Once you feel confident, move to small real trades. Final Simple Tips for New Crypto Traders Start with well-known coins like Bitcoin Ethereum Avoid chasing hype or FOMO (Fear Of Missing Out) Keep a basic trading journal or spreadsheet Learn from both wins and losses Crypto Trading Basics for Long Term Profit

Crypto Trading Basics for Long Term Profit

June 16, 2025
$3 Billion in Bitcoin Options Expire Today — Will BTC Crash or Bounce?

$3 Billion in Bitcoin Options Expire Today — Will BTC Crash or Bounce?

June 14, 2025
Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes

Trump vs Elon Musk: Bitcoin Dips as Tesla Crashes

June 6, 2025
Binance Beats SEC—Crypto Cheers the Legal Victory

Binance Beats SEC—Crypto Cheers the Legal Victory

June 2, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier