Sonic recently posted various ecosystem updates, but the general market momentum has still erased a lot of its profit.
Summary
- Sonic’s Integration with Covalent will make data possible to transfer as quickly as the network speed
- So far, most infrastructure has remained at the speed of Sonic, which causes latency
- Covalent will offer sonic data to developers such as API
Sonic (s) has recently seen a positive market momentum because of various updates and partnerships. On Tuesday, September 9, the token reached a weekly highlight of $ 0.3178. Due to the total decline of the cryptomarket, the price then corrected to $ 0.3051, which reduces the weekly profit to only 0.4%.
Sonic is known for its ultra -fast speeds. With 400,000 transactions per second, however, it is difficult for other infrastructure to keep track of. For this reason, on 8 September, Blockchain Data Firm Covalent integrated the network in its Goldenrush streaming and fundamental APIs, which correspond to its speed.
“Sonic is fast, 400K TPs with a speed of subseconds fast. But if the chain settles in milliseconds and your infrastructure, you cannot respond. This is the latency crisis,” Covalent wrote in his press release.
According to Covalent, the integration will enable external developers to pull data from Sonic almost as quickly as the chain updates. This is important for users of the Goldrush platform, usually automated trade bots and on-chains. For them, speed in implementation and finality are essential for generating profit.
Sonic integration to come up with compliance functions
Covalent also emphasized that compliance characteristics will remain robust, even if the API accelerates. The platform generates cryptographic evidence for its API output, which means that traders can provide verifiable proof of their transaction history to potential auditors.
The network also supports more than 100 chains and offers data in a uniform format. This means that compliance is easier for platforms that work on different blockchain networks, because they do not need separate programs for each network.
Earlier, on September 7, Sonic revealed major changes in the Tokenomics. The total circulating supply will increase from 4.12 billion to 4.75 billion sonic tokens, with many of the new tokens that will stimulate Sonic’s partnerships. At the same time, the network is expanding its fire mechanism, resulting in deflatoire pressure.
