Sonic,formerly Fantom (FTM), is a blockchain platform designed to support decentralised applications (dApps) and smart contracts. It features an evolved consensus mechanism ensuring high transaction speeds without sacrificing decentralisation or security. This balance addresses the "blockchain trilemma," optimising speed, security, and decentralisation. 

The native token of the Sonic network, S, serves multiple purposes, including staking, governance, payments, and transaction fees. Validators, developers, and community members receive S tokens as rewards funded by transaction fees.

Sonic was developed to overcome the limitations of earlier blockchain platforms like Bitcoin and Ethereum, specifically relating to their slow transaction processing times. Validators stake S tokens to participate in the blockchain transaction validation process, enhancing network security and aligning their interests with the network. Sonic's treasury, funded by transaction fees and other revenues, supports ongoing development and new initiatives.

How Does Sonic (S) Work?

The Sonic network is designed to offer high transaction speed while maintaining security and scalability built around four core principles:

Modularity

Sonic’s modular architecture allows for extensive customisation, including the seamless transfer of Ethereum-based dApps to the Sonic mainnet, which operates on the evolved Opera blockchain.

Scalability

Applications on Sonic function independently, ensuring performance and stability are not affected by network traffic.

Open Source

The Sonic protocol remains open-source, allowing anyone to run a node and modify the underlying code.

Security

Sonic is secured by an enhanced consensus mechanism, providing faster, more secure, and scalable transactions than traditional systems.

What Gives the Sonic (S) Token Value?

Sonic addresses the scalability issues that other blockchains face with its high-speed consensus mechanism. Transactions clear in less than two secondsand cost fractions of a penny. Developers can build dApps and run smart contracts on Sonic, with numerous projects in the decentralised finance (DeFi) space, including cross-chain swaps, decentralised exchanges, Non-Fungible Tokens (NFTs), and more.

What Makes Sonic (S) Unique?

Traditional blockchains prioritised security and decentralisation over scalability. Sonic, with its evolved proof-of-stake (PoS) protocol, aims to achieve all three without compromise. A transaction on Sonic takes less than 2 seconds to complete with significantly lower costs than Bitcoin.

The Sonic network is Ethereum Virtual Machine (EVM)-compatible, supporting full smart contract functionality via Solidity. Its self-contained nature ensures that network congestion in one area doesn't impact others.

What is Sonic (S) used for?

The Sonic network's primary token, S, is utilised for:

Payments

With its quick finality, Sonic enables swift, cost-effective payments, ideal for everyday transactions.

Governance

S is essential for on-chain governance, allowing stakeholders to propose and vote on network enhancements in this fully permissionless, leaderless ecosystem.

Staking

Users can stake S to secure the network, earning rewards without needing special hardware, making participation accessible.

Network Fees

S is used for network fees, including smart contract deployment, network creation, and transaction fees, deterring spam and ensuring efficient network operation.

Network Security

Staking and validation with S tokens underpin the security of Sonic, with validators needing to hold significant amounts of S to participate, aligning their incentives with network integrity.

Sonic, with its blend of speed, security, scalability, and distinctive features, stands out as a leading platform for a wide array of blockchain applications, continuing and expanding upon the legacy of Fantom.