Leveraging the decade of expertise in distributed systems of ����mv����, Somnia will set a new benchmark, processing over 400,000 transactions per second to power scalable, mass consumer applications

Highlights

• Unmatched Speed and Scalability: The Somnia blockchain will process over 400,000 transactions per second (TPS) with sub-second latency and low fees.

• EVM Compatibility: Seamlessly integrating with Ethereum Virtual Machine (EVM), leveraging the strengths of the existing ecosystem.

• Breakthrough Technology: Featuring ICEdb for ultra-fast read/write times and advanced compression algorithms that transfer data 10-20x more efficiently than other blockchains.

Herman Narula, Founder and Chief Executive Officer of ����mv���� declared: “By applying our knowledge from gaming and distributed systems, we’ve cracked the scalability problem that has long hindered blockchain technology. Somnia will transform how digital experiences are built and shared, empowering developers to build a more open and equitable digital assets economy.”

Paul Thomas, founder of The Virtual Society Foundation: “Somnia's unprecedented blockchain capabilities are paving the way for real-time, mass-consumer applications. From fully on-chain games and social networks to immersive virtual worlds and user-friendly DeFi, we're enabling use cases that were once unimaginable. ”

Peter Lipka, co-founder and Chief Operating Officer of ����mv����, added: “Our venture builder model is designed to support ambitious infrastructure projects like Somnia by offering world-class engineering talent, breakthrough technology and resources.”

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Today, ����mv���� announces the development of the Somnia blockchain, a high-performance layer-one blockchain, designed to support mass consumer applications such as gaming, social platforms, and decentralised finance.

Somnia integrates seamlessly with Ethereum Virtual Machine (EVM) compatibility, enabling developers to easily build decentralised applications while benefitting from superior performance. Key technological innovations, including a custom-built EVM compiler, the ICEdb database for ultra-low latency operations, and novel compression algorithms, allow Somnia to transfer data up to 20 times more efficiently than competing blockchains.

By aligning with EVM standards, Somnia enables developers to easily transition their skills and existing dApps to its high-performance blockchain. Developers benefit from the extensive tooling already built for the EVM, enhancing the development experience. Additionally, the vast array of assets and applications already deployed on EVM-based chains can be efficiently bridged to Somnia, creating a powerful, interconnected ecosystem for growth and innovation.

The Somnia blockchain will enter its DevNet phase in the coming weeks, allowing developers to test the system’s unparalleled speed and scalability. This will provide an early opportunity to explore its capabilities for various use cases, from decentralised finance (DeFi) to immersive gaming experiences.

Earlier this year, The Virtual Society Foundation* secured initial funding from M², the network of interoperable metaverses, marking a pivotal milestone in its development. M², which raised $150 million in 2022 from leading investors such as Andreessen Horowitz, SoftBank Vision Fund 2, and a group of ����mv���� and crypto backers including Mirana, DCG, CMT, SIG, and Ethereal Ventures, is playing a key role in Somnia’s evolution. ����mv���� will continue to support Somnia as it grows into a fully operational, high-performance blockchain ecosystem.

Media contacts - press@improbable.io

* The Virtual Society Foundation is an independent organisation that is behind Somnia dedicated to shaping the future of mass-consumer applications. Founded with the vision of creating a unified and open virtual society, VSF is committed to developing the standards, protocols, and infrastructure necessary to enable seamless interoperability across various virtual worlds.