Sonic claims to be the fastest EVM chain in the world, with a "true" blockchain finality of 720 milliseconds.
NEWS
The Sonic blockchain has surpassed USD 250 million in total value locked (TVL), driven by growing investor interest following its recent rebrand.
Sonic, directed by Andre Cronje, surpassed USD 253 million in TVL on January 28, representing a growth of over 65% compared to USD 153 million on January 16, according to data from DefiLlama
The increase in TVL occurred after the project rebranded from Fantom to Sonic on Binance.
The Sonic token (S) has been on a downward trend despite the blockchain surpassing the milestone of USD 250 million in TVL. The token has fallen over 41% in January and was trading at USD 0.43 at the time of writing this article, according to data from CoinMarketCap.
Sonic claims to be the fastest Ethereum Virtual Machine (EVM) chain in the world, with a "real" finality of 720 milliseconds (ms), which is the guarantee that a transaction is irreversible, occurring after it is added to a block in the blockchain ledger.
Sonic aims to become the fastest blockchain in the world by its finality
Sonic has captured attention in the cryptocurrency sector since its testnet achieved a finality of 720 ms on September 8, 2024.
Sonic testnet, final figures. Source: Andre Cronje
After executing a transaction, most blockchains require several additional blocks for the transaction to be irreversible, unlike Sonic, which places this transaction finality at just over 700 ms.
According to Andre Cronje, creator of the Fantom network and CTO of Sonic Labs, this milestone, which occurred in a controlled testing environment, positions Sonic as a contender for the fastest blockchain network in the world in terms of transaction finality if the same performance is achieved on its mainnet.
Currently, the Sonic mainnet has transaction finality of less than a second and block times of 0.98 seconds, according to Chainspect data.
In comparison, the Solana mainnet has an average finality of 12.8 seconds but has a block time of 0.4 seconds, twice as fast as Sonic's current block production.