TheVirtualSocietyFoundation,anindependentorganizationinitiatedbyBritishstartupImprobable,hasreleasedtechnicaldetailsforitsblockchainprojectSomnia.
Theannouncementincludesanupdatedwhitepaperandspecificationsfortheplatform’sdevelopment.
🚀🦾We’rebeyondexcitedtosharethat@ImprobableioisdevelopingSomnia\'sBlockchain,thefastestEVMl1tobringentireworlds’datafullyon-chain.🤝https://t.co/23wamsRTV7
Withoveradecadeofexpertiseinbuildingvirtualworlds,they’renowhelpingusbuildthe…pic.twitter.com/ebu9GW0UkG
—Somnia–aFullyOnchainWorld(@Somnia_Network)October24,2024
Somniaclaimedtohave400,000TPS
Theproject,whichreceivedinitialfundingthroughMSquared’s$150millionraisefrominvestorsincludingAndreessenHorowitz,SoftBank,MiranaVentures,CMTDigital,andSIG,claimstoachievetransactionspeedsexceeding400,000TPSthroughitsMultistreamConsensusmechanism.
Thefoundationreportsthattheplatformutilizescompressionalgorithmsdesignedtomove10-20timesmoredatabetweennodescomparedtoexistingblockchainnetworks.Theprojectaimstomaintaintransactioncostsbelowonecentthroughtheseoptimizations.
Improbable,knownforitsexperienceinvirtualworlddevelopment,providesengineeringsupportandtechnicalresourcestotheproject.
Thecompany’sfounderandCEO,HermanNarula,statedthattheprojectappliesgaminganddistributedsystemsknowledgetoaddressblockchainscalabilityissues.
PaulThomas,founderofTheVirtualSocietyFoundation,indicatedthattheplatform’sinfrastructureisbeingdevelopedtosupportreal-timeapplicationsspanninggaming,socialnetworks,anddecentralizedfinance.
Theblockchainproject’sdevelopmentrepresentsamajorinvestmentinblockchaininfrastructure,thoughitsperformanceclaimsandtechnicalcapabilitiesremaintobedemonstratedinreal-worldconditions.
cryptonewsz.com