As a seasoned researcher with years of experience in the dynamic world of blockchain technology, I find myself intrigued by the imminent launch of Sophon’s mainnet in November. The SOPH token and the gasless experience it offers are certainly enticing, especially for those who have grown weary of transaction fees in the crypto realm.
The decentralized entertainment platform known as Sophon is preparing for the release of its main network in November. Alongside this launch, the SOPH token will become available. Initially, there will be limitations on public access to the token during its early phases to maintain system stability and ensure security.
In this stage, users can transact freely without worrying about gas fees since these fees are not necessary. This simplifies user interactions with the network significantly, reducing any financial strain caused by fees in the early stages.
It has been revealed that Sophon Guardian is crucial for the network’s infrastructure. Guardians have the ability to run Sophon nodes, which were initially tied to the nodes purchased during the node sale. The team will gradually announce the partners involved in the mainnet launch by next week.
The blockchain firm has reached out to leading companies that it has collaborated with and received funding from. Notably, Binance Labs has invested in Sophon to spur advancements in cutting-edge initiatives and stimulate the expansion of its ecosystem.
Andy Chang, an Investment Director at Binance Labs, commended Sophon for its robust relationships within the industry and its early achievements in entertainment, gaming, and AI sectors, suggesting that these factors demonstrate the company’s potential to disrupt and innovate these fields.
Innovative Funding Strategies: $60 Million in Node Sales Propel Development
This year in May, Sophon managed to rake in more than $62.7 million through an innovative node auction. A total of approximately 121,000 network nodes were sold during this event, with around 20,391 Ether (equivalent to $62.7 million) being the earnings from a pool of 200,000 nodes that were up for grabs in the sale.
Previously, the blockchain company successfully secured $10 million in a traditional investment round that was spearheaded by Paper Ventures. Additionally, Spartan, SevenX, and OKX Ventures also took part in this funding round.
On his X page, Sebastian, a co-founder of Sophon, declared that the collected funds will be directed towards initiating fresh ventures and forging stronger collaborations. In simpler terms, he stated that the money raised would be utilized to start new projects and establish more strategic alliances.
As a researcher, I am excited to share that we’ll be directing these funds towards creating cutting-edge solutions, fostering innovation, supporting our projects, and forging strategic alliances. Our ultimate objective remains the same: consistently delivering value to our dedicated community.
Regardless of some founders’ lack of popularity, the project has successfully attracted significant financial backing, showcasing the faith prominent corporations have in its success. Sophon was established by Sebastien, previously leading DeFi at zkSync, and Pentoshi, a notable personality within the Crypto Twitter sphere.
Pioneering ZK Stack Applications: Leading the Charge in Layer 2 Solutions
Sophon aims to accomplish its objectives using ZK Stack applications, such as account abstractions built natively, which allow users to engage with the blockchain without having to pay transaction fees. The zkSync platform is recognized for having the strongest zkEVM codebase, offering a wide range of functions and proven scalability due to rigorous testing, making it a leading choice among Ethereum‘s layer 2 solutions.
This feature is crucial for building an expansive and reliable setting suitable for consumer apps. Sophon, born from Merit Circle and backed by strategic alliances with entities such as Beam, Zentry, and Aethir, aspires to become a leading development and user platform.
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2024-10-09 20:42