Somnia, the high-performance Layer 1 blockchain designed to process large amounts of on-chain data has released updates in its litepaper. The new document presents Multistream, a consensus model that can process more than 400,000 TPS with sub-second block settlement.
Somnia aims to support a broad range of mass-consumer applications across the Web3 ecosystem with this new consensus, significantly advancing blockchain performance and scalability.
Somnia’s $10 Million Ecosystem Grant Program
Somnia is also going to open a $10 million ecosystem grant program to support Web3 innovation. The program aims to link great developers with prolific industry investors such as Spartan Capital, Mirana Ventures, and CMT Digital. These grants will ensure that builders are more centered on real-time use cases in gaming, social media, and metaverse
Somnia’s new design has implemented new compression approaches, which the blockchain uses to transport data at least 20 times more efficiently between the nodes than the conventional models. The above improvement also helps the platform manage high transaction density with low latency, which makes the algorithm mostly suitable for real-time applications.
The blockchain’s custom-built ICEdb database also ensures that data operations achieve read and write speeds between 70 and 100 nanoseconds, enabling ultra-fast interactions significantly reducing transaction fees.
The design of Somnia makes it more appropriate for developers who want to create a platform capable of hosting many popular applications cost-effectively. The working network helps developers create and deploy apps with smooth performance at a low cost. Therefore, the platform provides suitable conditions for developing decentralized applications for games, performances, financial operations, and others.
Partnerships with Yuga Labs and NFT Utility Expansion
Somnia also works with other industry players, such as Yuga Labs, where users get additional utility from Bored Ape Yacht Club, Mutant Ape Yacht Club, and Otherdeed Expanded NFTs. Further, NFT owners can join communities that allow buyers to attend digital fests like virtual baseball games and actual K-pop album release performances. Somnia’s Dream Builder tools also enable users to mint the 3D models into on-chain assets, boosting the utility and compatibility of the ecosystem.
Further, Somnia will be able to efficiently process transaction loads to enable various logic functions currently off the blockchain. Such a transition opens a potential revolution for use cases in DeFi, gaming, and social platforms.
Source: https://blockchainreporter.net/somnia-publishes-litepaper-covering-multistream-consensus-model/