Fantom (FTM) is being migrated to Sonic (S)
The migration is expected to be completed on 16/01/25.
Buy Sonic (ex-FTM) (S)
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:
- Decentralised Finance (DeFi): It introduces credit scoring for digital wallets and facilitates performance-intensive financial applications.
- Gaming: Supports decentralized gaming via a scalable and customizable infrastructure.
- Cross-Chain Interoperability: Sonic collaborates with other networks to enable cross-chain communication, enhancing blockchain interoperability.
- 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.
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Frequently Asked Questions (FAQs)
What is the current price of Sonic (ex-FTM) (S)?
The Sonic (ex-FTM) price is $1.128 AUD, representing a 0% from the day prior.
Where is the best place to buy Sonic (ex-FTM) (S) in Australia?
The best place to buy Sonic (ex-FTM) (S) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Sonic (ex-FTM) (S) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Sonic (ex-FTM) (S)?
The trading volume of Sonic (ex-FTM) (S) is $8.5M AUD in the last 24hrs, representing a 0% from the day prior.
How can I buy Sonic (ex-FTM) (S)?
Sonic (ex-FTM) (S) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Sonic (ex-FTM) (S)?
The current market cap of Sonic (ex-FTM) (S) is $3.5B AUD.
Can I convert Sonic (ex-FTM) (S) to cash?
Yes - With Coinstash you can convert your Sonic (ex-FTM) (S) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Sonic (ex-FTM) (S) are there?
The current circulating supply of Sonic (ex-FTM) (S) is 3.2B.
Is Coinstash a safe place to buy Sonic (ex-FTM) (S) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Sonic (ex-FTM) (S) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.