While Fantom Opera is a reputable network that has established itself in the decentralized finance (DeFi) space, it faces some speed limitations. With Sonic, the Fantom Foundation aims to overcome these limitations and significantly improve the user experience.

Sonic will have a layer-2 bridge that will provide a direct connection to Ethereum, a feature that Phantom Opera does not currently have. Thanks to this bridge, users will be able to transfer their assets between Ethereum and Sonic quickly and securely. Additionally, Sonic will increase the security of transactions by generating a proof for every asset transferred from Ethereum.

Fantom Foundation CEO Michael Kong stated in an email to CoinDesk that Sonic will be significantly better than Fantom Opera in terms of speed and security, and that over time he predicts users and developers will switch entirely to the Sonic chain.

The management and development of the Sonic ecosystem will be carried out by two separate organizations. The Sonic Foundation will be responsible for the management and treasury of the Sonic chain. This foundation will oversee community voting and decision-making to ensure the healthy growth of the Sonic ecosystem.

Sonic Labs will focus on the development of the Sonic network and community building. This organization will work to encourage the development of decentralized applications (dApps) on Sonic and expand its user base.

Once the Sonic chain is operational, the network’s own native token, $S, will be released. A recent management vote decided that $S and $FTM tokens will be compatible at a 1:1 ratio. In this way, users who hold existing $FTM tokens will be able to seamlessly switch to the Sonic chain.

The Fantom Foundation has not yet made a clear statement about the future of Fantom Opera. However, it is expected that users and developers will shift to Sonic over time, as Sonic is faster and safer. In this case, it is likely that the use of Phantom Opera will gradually decrease and Sonic will become the dominant network.

Fantom Foundation has successfully closed a $10 million funding round led by Hashed to support the development of the Sonic ecosystem and products. This investment will help Sonic establish itself as a strong player in the cryptocurrency market.

Fantom Foundation’s Sonic initiative is seen as an important step to stand out in the competition in the cryptocurrency market. Sonic’s features such as speed, security, and connectivity with Ethereum present attractive options for users and developers. The release of Sonic and how it will perform in the long term remain unclear. But this new blockchain could play an important role in shaping the future of the cryptocurrency market.