New-York, USA, October 25th, 2024, Chainwire
Somnia, the high-performance EVM-compatible Layer 1 optimized for entire worlds’ data fully onchain, has published an updated version of it’s litepaper. The new document shares details about the project’s key innovations including the new Multistream consensus model.
The Multistream consensus will be the foundation enabling Somnia to support 400,000 transactions per second with sub-second block finality, designed to support the next generation of mass-consumer applications. Somnia is launching its ecosystem grant program of $10 million that will help connect promising developers with leading Web3 investors including Mirana Ventures, Spartan Capital, and CMT Digital. The program aims to support builders creating large-scale, real-time applications across gaming, social platforms, metaverses, and more.
The new Somnia litepaper reveals the architecture that will enable its high throughput and performance while maintaining a high degree of decentralization. This new design includes advanced compression techniques that allow Somnia to move data between nodes up to 20 times more efficiently than other blockchains, and the Multistream consensus algorithm which helps the blockchain achieve sub-second block finality. Somnia also has a custom-built database, ICEdb, which enables average read/write times of 70-100 nanoseconds. The blockchain is optimized for single-thread Sequential Execution, which outperforms traditional parallel models, especially in times of high transaction density.
The litepaper also outlines the benefits to developers of being able to deploy games and social applications on a scalable blockchain that can host high volume dapps while maintaining an ultra-low fee environment.
Somnia is developed by Virtual Society Foundation, an independent organisation initiated by Improbable, a British startup that has been at the forefront of building virtual worlds for over a decade. The Virtual Society Foundation secured initial funding from MSquared, which raised $150 million in 2022.
Somnia has established partnerships with Yuga Labs, giving holders of Kodas, Otherdeed Expanded, Bored Ape Yacht Club, and Mutant Ape Yacht Club NFTs new utility for their digital collectables. The launch of Somnia’s L1 will enable NFT holders to experience games and interoperable virtual experiences fully on-chain. NFT avatars can be used within MSquared virtual experiences, like the official MLB virtual ballpark, and concerts with the Kpop musicians like TWICE on Kosmopop. Somnia has also developed Dream Builder, a set of tools that allow users to bring their creative visions to life, from turning 3D files into interoperable metaversal objects to building immersive worlds and game-like experiences.
With the performance characteristics of the Somnia blockchain, more logic that currently exists off-chain can finally be moved on-chain. This will be especially important for games, social platforms and other mass-consumer applications. Somnia’s high-performance blockchain can also improve trading by enabling the creation of on-chain Limit Order Books, which will give users the experience of a centralised exchange with the security guarantees of a decentralised blockchain, making it attractive for DeFi applications.
Unlocking these new use cases and others that are yet to be imagined, will power the mass adoption of blockchain and Web3, and Somnia will be the best technology for these use cases, making it the obvious choice for developers and creators.
About Somnia
Somnia is the fastest and most cost-efficient EVM Layer 1 blockchain, processing over 400k transactions per second with sub-second finality.
Somnia’s new Multistream Consensus enables sub-second block finality and higher transaction throughput. While sequential execution and Compression algorithms efficiently handle high-density scenarios, moving 10-20x more data between nodes than other blockchains. A new custom database, IceDB, enables read/write times of 70-100 nanoseconds, minimizing transaction costs to below a cent. This makes it the perfect platform for building large-scale, real-time applications in gaming, metaverses, live event data, finance and more, for millions of users, Bringing entire worlds’ data fully onchain. making the EVM far more efficient than ever before.
Learn more: https://somnia.network/
Contact
Marketing Head
Michelle Kang
Virtual Society Foundation
[email protected]
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