Somnia, a cutting-edge Layer 1 blockchain designed for the Ethereum Virtual Machine (EVM), has recently released a new litepaper detailing significant upgrades to its technology. The most notable update is the introduction of the Multistream consensus and a $10M ecosystem grant program aimed at supporting mass-consumer applications.
The Multistream consensus lies at the core of Somnia’s advancements, boasting an impressive capacity of 400,000 transactions per second with sub-second block finality. This breakthrough enables Somnia to cater to large-scale, real-time applications in industries like gaming, social media, and virtual worlds.
The litepaper delves into various architectural enhancements that enhance Somnia’s performance while upholding decentralization principles. One key improvement is advanced compression technology, enabling data transfer between nodes at speeds 20 times faster than traditional blockchains. Additionally, Somnia introduces ICEdb, a bespoke database offering lightning-fast read and write times of 70-100 nanoseconds.
Unlike traditional parallel processing, Somnia’s single-thread sequential execution ensures consistent performance even under high transaction volumes. To foster ecosystem development, Somnia has initiated a $10M grant program to connect innovative developers with leading Web3 investors such as Mirana Ventures and Spartan Capital.
The grant program targets developers working on large-scale, real-time applications, providing them with resources and funding to bring their projects to fruition. Noteworthy partnerships with industry giants like Yuga Labs aim to expand the utility of NFTs, enabling the integration of popular NFT collections into games and virtual experiences on-chain.
Moreover, NFT avatars can now be utilized in MSquared’s virtual environments, including the official Major League Baseball (MLB) virtual ballpark and Kosmopop, which hosts K-pop concerts featuring TWICE. Somnia has also introduced Dream Builder, a suite of tools empowering creators to convert 3D files into metaversal objects and build interactive experiences, fostering creativity and diversity within the Somnia ecosystem.
On the DeFi front, developed by Virtual Society Foundation, Somnia’s high-performance blockchain facilitates on-chain limit order books, combining the efficiency of centralized exchanges with the security and transparency of decentralized platforms. By shifting more application logic on-chain, Somnia enhances transparency, security, and user engagement across all applications.
Overall, Somnia’s latest litepaper opens up a plethora of new use cases for blockchain and Web3 technologies. With its scalable and high-performance infrastructure, Somnia emerges as the preferred choice for developers and creators aspiring to build the next generation of decentralized applications.