Ton network used on Telegram
If you look at Telegram, currently they have 900 million active users. Ton network was launched by capitalizing on Telegram. Due to which many users are getting introduced inside web3 through mini games and other applications.
Sonic Network is using TikTok
What is Sonic Network Project Web3? New crypto project Sonic Compare TikTok, let’s find out
Now if we look at TikTok in comparison, Tik Tok currently has 2.1 billion active users. The new generation is mostly active on Tik Tok. Sonic is capitalising on the user base of Tik Tok. Sonic plans to further expand Solana’s existing gaming system to the point where million off requests per second are possible. Sonic is planning to launch Solana Virtual Machine SVM for the same.
Now if we talk from the technology point of view, Sonic is going to build a parallel processes framework on which basically a lot of transactions will happen. Finally the transactions will be settled on Solana’s layer one blockchain.
Sonic wants to capitalize on the users of Tik Tok. For this, Sonic has created the first web3 Tik Tok app layer. Due to which millions of tiktok users are getting on boarded and earning some money by playing decentralized games over the solana blockchain.
Currently if you look at Sonic, its Main net has not been launched yet. Till now only testnet is running. Till now 8.7 million users have reached the test net. 3 billion transactions have reached the testnet.
If we look at Sonic overall, his plan seems to be to convert users from Tik Tok and bring them to Solana blockchain in some way. The biggest reason why Sonic is so interested in Tik Tok is that Sonic’s CEO and founder Chris Zhu has also worked in Tik tok’s parent company ByteDance. That’s why he wants to capitalize on web3 by utilizing his old experience.
Who are the investors in Sonic Network?
If we talk about the investors inside Sonic, then Galaxy Interactive which is one of the largest compliant service providers is an investor in the Solana ecosystem. Along with it there is Bitkraft which manages 1.1 billion assets and it is one of the largest gaming industry funds in the US. Along with this there is Big Brain Holding which has been an early supporter of Solana, Republic crypto, OKX venture, OKX exchange, Mirana Venture which is of Bybit ecosystem and along with this Lily Liu is the chair person of Solana Foundation.