Fantom Foundation announces the release of a new version of the mainnet

The upgrade has significantly improved blockchain performance

07.03.2023 - 14:00

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2 min

What’s new? Fantom Foundation has announced the release of a new version of the mainnet of the Fantom blockchain, go-opera 1.1.2-rc.5. The upgrade includes significant improvements in Genesis batched blocks processing, customizable database management, parallel Ethereum Virtual Machine (EVM) log search and optimizations in peer-to-peer (P2P) protocol. The new version can be used by all nodes on the network.

News on the Fantom blog

What is known about the project? Fantom is a decentralized blockchain platform for smart contracts. The Fantom ecosystem is used by projects like Aave, Curve, and yEarn. As of March 7, it has $459,25 million in total value locked (TVL), according to DefiLlama. The native token FTM ranks 44th in the cryptocurrency ranking with a capitalization of $1,138 billion and is trading at $0,409791, having not changed in price in 24 hours, according to CoinGecko.

What other upgrades have been implemented? According to the release, the improvements have reduced transaction/block processing times by about 30%. Genesis file processing speed has increased by a factor of 3, and log searches are 5 times faster.

The developers have also made a number of changes to the database layer. It is now possible to integrate several types of data stores at once (LevelDB and PebbleDB). Security for Opera nodes has been improved, and additional caches are used to improve performance.

In January, Fantom announced the migration of the fUSD stablecoin to version v2. It will be accompanied by the liquidation of positions in fUSD.

In November 2022, developer Andre Cronje published detailed financial statements of Fantom which showed that at current costs, the company’s existing assets will be sufficient for 30 years of operation. After the publication, the FTM rate rose by 25,62% in just 24 hours.

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