Fantom, the blockchain protocol that recently partnered with Google Cloud, has announced the official launch of the upgrade to its existing Opera chain after it reached the necessary 66% threshold consensus level.

Fantom Opera Upgrade Highlights

The Opera upgrade boasts better-in-class technology, allowing the chain to process up to 180 million transactions daily with sub-second confirmation times. The expectation is that Opera will achieve approximately 2,000 Transactions Per Second (TPS) at around 1 second finality, with token swaps reaching an estimated 4,000 TPS at 1.3 seconds finality and token transfers achieving 10,000 TPS at 1.6 seconds finality.

Improved Operational Efficiency

In addition to the enhanced performance, the protocol will experience a decrease of about 66% in storage requirements, while its operational category is expected to drop by 95%. Fantom developers are hopeful that this will lead to a significant surge in transaction volume, prompting further testing and data collection on the network's improved capabilities.

Upcoming Fantom Developments

Fantom's upgrade is part of its ongoing efforts to ensure that users have access to its futuristic technology. The protocol has additional improvements and additions planned for the near future, including updates to its tokenomics, audience engagement programs, partnerships, brand, and strategic direction.

Sonic Network and Ecosystem Expansion

The launch of the Sonic network has been a significant milestone for Fantom, and the protocol has consistently sought opportunities to improve the network. This includes the potential launch of Sonic Labs, which will focus on the development and growth of Decentralized Applications (DApps) with ties to Sonic, and the Sonic Foundation, which will be responsible for the network's governance and treasury management.

FTM Price Outlook

The latest Opera upgrade comes at a time when the FTM token is hinting at an imminent rebound. CoinMarketCap data shows that FTM is currently trading at $0.8125, with a 0.91% increase in the last 24 hours. While the token has been fluctuating sideways for a while, market experts and analysts believe that FTM holds great potential.

Fantom's transformation with the Opera upgrade marks a significant milestone for the protocol, showcasing its commitment to enhancing performance, efficiency, and user experience within its blockchain ecosystem.