Key highlights:
- Somnia’s Multistream consensus enables up to 400,000 transactions per second with sub-second finality.
- New ecosystem grants aim to support high-volume dapps, backed by investors like Mirana Ventures and Spartan Capital.
- ICEdb and advanced compression ensure efficiency for mass-consumer applications like gaming and finance.
Somnia’s Multistream Consensus: Advancing Blockchain Throughput
Somnia’s new litepaper details its innovative Multistream consensus mechanism, which is foundational to its high-speed processing abilities. This consensus model, along with ICEdb’s ultra-fast read and write times—averaging 70 to 100 nanoseconds—supports Somnia’s goal of achieving sub-second block finality. These features allow it to transfer data across nodes up to 20 times more efficiently than many existing blockchain models, keeping transaction fees under a cent.
$10 Million Ecosystem Grant Program
In support of its developer ecosystem, Somnia has introduced a $10 million grant program to connect developers with prominent Web3 investors, including Mirana Ventures, Spartan Capital, and CMT Digital. This initiative aims to drive the creation of high-volume decentralized applications across sectors such as gaming, metaverse environments, and social platforms.
On-Chain Functionality for NFTs and DeFi Applications
Somnia has established partnerships with notable NFT leaders, including Yuga Labs, to offer expanded use cases for digital collectibles. Through Somnia’s Layer 1, holders of assets such as Kodas, Otherdeed Expanded, and Bored Ape Yacht Club APE tokens can participate in fully on-chain games and virtual experiences, from MLB virtual ballparks to concerts by K-pop artists like TWICE. The platform’s Dream Builder toolset empowers creators to convert 3D files into interoperable, on-chain metaverse elements.
The high throughput and low latency of the Multistream model also open new possibilities for decentralized finance. Somnia’s infrastructure supports on-chain Limit Order Books (LOBs), enabling a trading experience comparable to centralized exchanges but with the decentralized security of blockchain.
What is Somnia?
Somnia is an EVM-compatible Layer 1 blockchain built for high-throughput performance and scalability, specifically designed to support data-intensive applications like social media platforms, decentralized finance (DeFi), and expansive gaming metaverses. Operating with speeds of up to 400,000 transactions per second (TPS), Somnia combines advanced data compression techniques and its proprietary ICEdb database to achieve rapid transaction times and efficient data management. This architecture makes Somnia suitable for applications where transaction speed, low fees, and scalability are essential.
Developed by the Virtual Society Foundation, an independent organization initiated by UK-based metaverse company Improbable, Somnia integrates unique features to handle massive data transfers while maintaining low latency. For developers, the platform provides an attractive environment with sub-second finality, enabling real-time, on-chain experiences in applications that serve large user bases.
Somnia also developed a platform called Playground, which is Somnia’s metaverse creation platform designed to simplify the creation and hosting of metaverse experiences.
The bottom line
Somnia’s high-speed, low-cost blockchain, powered by the Multistream consensus, offers a robust foundation for next-generation applications in Web3. With extensive support for real-time, data-heavy dapps and significant investor backing, Somnia is positioned to advance blockchain technology in gaming, social, and financial applications by bringing vast datasets fully on-chain.
For more NFT-related content, see our article going over the best NFT games.
Source: https://coincodex.com/article/50895/somnia-multistream-consesus-model/