<h3><strong>What is Fantom (FTM)?</strong></h3><p>Fantom (FTM) is a high-performance blockchain platform designed to address the limitations of traditional blockchains. It focuses on delivering fast, secure, and scalable infrastructure for decentralised applications (dApps) and digital assets, making it particularly suited for decentralised finance (DeFi) services.</p><h3><strong>How does Fantom (FTM) work?</strong></h3><p>Fantom operates on a Directed Acyclic Graph (DAG)-based platform called Fantom Opera. The platform uses the <strong>Lachesis Protocol</strong>, an asynchronous Byzantine Fault Tolerant (aBFT) consensus mechanism, enabling high-speed and secure transactions. It is compatible with the Ethereum Virtual Machine (EVM), allowing developers to port Ethereum-based smart contracts effortlessly.</p><p>Fantom’s consensus mechanism leverages Proof of Stake (PoS) and Lachesis to achieve:</p><ul><li>Sub-second transaction finality</li><li>Enhanced security and decentralisation</li><li>Low energy consumption compared to traditional blockchains</li></ul><p>Smart contracts on Fantom enable the creation of dApps, DeFi platforms, and token issuance.</p><h3><strong>What are the potential use cases for Fantom (FTM)?</strong></h3><p>Fantom's versatility enables its adoption across various industries:</p><ul><li><strong>Decentralised Finance (DeFi):</strong> Powering lending, borrowing, and trading platforms with near-instant transaction speeds.</li><li><strong>Supply Chain Management:</strong> Tracking and managing the supply chain with enhanced transparency and efficiency.</li><li><strong>Internet of Things (IoT):</strong> Integration for smart city solutions and IoT device interoperability.</li><li><strong>Gaming:</strong> Supporting blockchain-based gaming and digital asset ownership.</li></ul><p>Notable partnerships and collaborations include:</p><ul><li>Government partnerships in Pakistan and Afghanistan for public services.</li><li>Integration with Band Protocol and Chainlink for decentralised oracles.</li><li>Collaboration with The Graph for indexing solutions.</li></ul><h3><strong>What is the history of Fantom (FTM)?</strong></h3><p>Fantom was founded in 2018 by Dr Ahn Byung Ik, with the aim of overcoming blockchain scalability challenges. Key milestones in its development include:</p><ul><li><strong>June 15, 2018:</strong> Initial token launch of FTM.</li><li><strong>December 2019:</strong> Launch of OPERA, Fantom’s mainnet.</li><li><strong>January 2023:</strong> Introduction of the Fantom Ecosystem Vault.</li></ul><h3>Over time, Fantom has solidified its position as a leading Layer 1 blockchain, particularly in the DeFi space, by offering cutting-edge technology and robust market presence.</h3>

### What is Sonic (prev. FTM)?

Sonic, previously known as Fantom (FTM), is a Layer-1 blockchain designed to overcome challenges faced by decentralized technology, such as high transaction fees, slow speeds, and limited scalability. It aims to offer a high-performance platform primarily for developers and users, ensuring fast transactions, low costs, and integration capabilities with Ethereum.

### How does Sonic (prev. FTM) work?

Sonic operates using a Directed Acyclic Graph (DAG) structure paired with an Asynchronous Byzantine Fault Tolerance (ABFT) consensus mechanism. This setup allows validators to confirm transactions asynchronously, significantly boosting transaction speed and throughput. The network supports smart contracts and is compatible with the Ethereum Virtual Machine (EVM), facilitating easy migration of projects and creation of new dApps.

### What are the potential use cases for Sonic (prev. FTM)?

Sonic has diverse use cases including:

1. **Decentralised Finance (DeFi):** It introduces credit scoring for digital wallets and facilitates performance-intensive financial applications.
2. **Gaming:** Supports decentralized gaming via a scalable and customizable infrastructure.
3. **Cross-Chain Interoperability:** Sonic collaborates with other networks to enable cross-chain communication, enhancing blockchain interoperability.
4. **General Use:** S token serves for transaction fees, staking rewards, and governance.

### What is the history of Sonic (prev. FTM)?

Sonic's history traces back to Fantom's origins in 2018 in South Korea. After overcoming early challenges such as plagiarism issues, the project was revived with the help of industry leaders like Andre Cronje. Sonic Labs, founded by Michael Kong, launched the Sonic mainnet in December 2024, transitioning from Fantom with an enhanced focus on performance and scalability. It has since grown significantly, establishing a strong presence within the blockchain landscape.

Sonic (ex-FTM)

The migration is expected to be completed on 16/01/25.

Fantom (FTM) is being migrated to Sonic (S)

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