Bittime - The Fantom Foundation has just announced a big change. Their blockchain, which we have known as Fantom, will be changed to Sonic Network. You can find out the details of the changes in this article!
Fantom Change Details
Relax, your crypto assets ($FTM) remain safe. Later, $FTM will be converted into a new token called $S at a ratio of 1:1. The most interesting change is in the technology.
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Sonic Network will use cutting-edge technology that offers various benefits. You can find out below.
Faster and Economical
Sonic is claimed to be able to process up to 2,000 transactions per second (TPS) with transaction confirmation in just one second. It is much faster and cost-effective than other blockchains.
Also read: Warning! Equalizer, DEX Fantom, Has Been Hacked!
Integrated with Ethereum
Sonic will connect directly to Ethereum via a special Layer-2 bridge. This allows users to take advantage of Ethereum's security and the various assets and applications it contains.
Also Read How to Buy Crypto:
Ideal Platform for Developers
The combination of speed, security, and ease of access makes Sonic an ideal platform for developers building crypto applications (dApps).
Also read: Fantom Launches Sonic Technology to Increase Transactions
How to Migrate from FTM to S?
At the launch of Sonic, the number of $S tokens will be adjusted to the amount of $FTM currently in circulation. Later, users will have the opportunity to exchange their $FTM tokens for $S at a 1:1 ratio.
This depends on the results of the ongoing voting. It is hoped that this migration process will run smoothly and will not disturb users.
Once the transition period is complete, the migration will only go one way, namely from $FTM to $S. However, users need not worry as the dedicated bridge will remain available for two-way swapping for the time being.
With this transformation, Sonic Network is expected to become an innovative blockchain that will be of interest to many users.
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How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
3 Fantom Based Coins in 2024 that are Interesting to Know
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Fantom Prepares to Rise with New Technology, Sonic, Airdrop Awaits!
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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