Sonic Chain is rapidly making a name for itself in the crowded blockchain space thanks to its impressive adoption rates and scalability. Just four days after its mainnet launch, the chain reached an incredible milestone of 1 million blocks. To put it simply, this new crypto trading platform has the potential to shake up the entire digital currency landscape. In this post, we’ll talk about Sonic Chain's standout features, its remarkable TPS rates, and its low fees. With a competitive edge like this, it might just stand shoulder to shoulder with established platforms like Solana and Ethereum.

Sonic Chain's unique approach to liquidity mining and cross-chain interactions could very well change the game for online crypto platforms.

Meet Sonic Chain

Let’s talk about Sonic Chain, shall we? Developed by the Fantom team, this new layer-1 blockchain has made quite the entrance. In only four days since launch, it accomplished the impressive feat of over 1 million blocks. This tells us two things: there's significant demand for Sonic Chain within the community, and it has the attention of small businesses looking for trade-friendly solutions.

But that’s not all. Sonic can boast about its speed as well. It reportedly achieved a whopping 850 Transactions Per Second (TPS) while still operating in “safety mode.” What's safety mode? It's basically a protective feature allowing Sonic to onboard new validators and ensure the network is stable before launching into full-scale operations. According to this article, Sonic Chain went on to break records with 1,620 TPS also while in safety mode. Sure, there’s still a lot of room for growth, but those numbers are worth a look.

A New Blockchain Exchange App for Small Businesses

Not only does Sonic Chain have the endorsement from prominent developers like Andre Cronje, but it also has plans for liquidity mining to further entice users. The chain’s developers are suggesting to the Uniswap DAO to allocate 250,000 UNI tokens as liquidity rewards to the validators of the Stellar Chain. They also proposed loaning an additional 500,000 S tokens for liquidity rewards.

But let’s not forget about some potential pitfalls here. Now, we can’t sit here and pretend this process is flawless. First, liquidity mining heavily relies on smart contracts. Which can be riddled with bugs and, if discovered, exploited, leading to massive financial losses for the liquidity providers. Prices of crypto coins can be volatile, impacting liquidity mining rewards. Thanks to unstable yields in liquidity mining, early birds stand to earn big before potential falls.

We may also want to consider that providing liquidity to DeFi pools can lead to what's called impermanent loss. Many crypto projects have high yields. But these high returns are often just a way to attract new users.

Where Sonic Stands Against Most Popular Crypto Platforms

• Transaction Speed: Sonic Chain can handle a stunning transaction finality of 720 milliseconds. That's pretty impressive, especially against important players like Ethereum or Solana. It is enhanced by features like gas monetization and native account abstraction.

• Fees: The fees also remain ultra-low, which is essential for smaller players who can’t afford heavy transaction fees. It also offers Ethereum interoperability via another bridge that doesn’t exist yet, meaning Sonic Chain will work with Ethereum cash, which is a plus.

• Stellar: Stellar can process up to 1,000 TPS in half a second. Not to mention its transaction fees are similar to those of Sonic.

• Avalanche: This platform can handle over 4,500 TPS, confirm transactions in < 2 seconds and have low fees, too.

Ultimately, Sonic Chain’s prices and quickness make it a safe crypto platform for smaller businesses, but will they hold up against competitors down the road or serve as the best blockchain app for the future?