SOON Coin Explained: What It Is, How It Works, and Why It Matters

SOON, a project aiming to revolutionize how different blockchains handle large amounts of activity, was recently announced. SOON aims to build super-fast express lanes for our digital highways! 

This article will explain what SOON is, how its unique technology works, and why it's gaining attention in the crypto space.

SOON Challenge: Making Blockchains Faster and More Scalable

Imagine a very popular playground where everyone wants to play at the same time. If there's only one slide, things get very slow and crowded, and tickets to use the slide become very expensive. This is a bit like what happens on some blockchains, especially during busy times.

Most existing "Layer 2" solutions (which are like adding extra lanes to a highway to handle more traffic) often process transactions one at a time. 

This method, called "single-threaded runtime," can cause delays and higher fees when lots of people try to send money or use apps at once. 

Also, the current "Ethereum Virtual Machine" (EVM) ecosystem, while very popular, sometimes struggles to attract a high number of super-fast and high-quality applications (dApps) and developers compared to other blockchain environments.

For decentralized applications that need to handle a huge number of users or transactions, like big trading platforms or games, this slowness is a big problem. 

They need something much faster and more robust.

Also read: New Listing SOON: Trade on Bitrue Now

SOON's Solution: The Power of Decoupled SVM and Parallel Processing

SOON steps in with a clever solution by leveraging the Solana Virtual Machine (SVM), but in a special way. The SVM is known for its ability to handle many tasks at once, like having many slides on our playground that can be used at the same time. 

This is called parallel transaction processing.

Unlike many traditional Layer 2 solutions, SOON's technology, called the SOON Stack, uses this parallel processing power to offer incredibly high throughput (meaning it can handle many transactions very quickly) and reduce delays. 

It’s more than just a regular copy or "fork" of the SVM. SOON has specifically designed its SVM to be "Decoupled," making it perfect for rollups. 

This special design enhances security and uses less digital space (known as "data availability wastage") compared to standard SVM versions.

The core idea is to bring Solana’s famous speed to other blockchains. Solana's design, from its use of the Rust programming language for smart contracts (which helps prevent common security issues) to its unique way of organizing data, was built for high performance right from the start. 

SOON wants to bring that same level of performance and builder quality to any blockchain.

Also read: What is Brother Season 8? Your Guide on Utilizing SOON at TON Station

SOON Mainnet: Boosting Ethereum and Attracting Builders

The SOON Mainnet is a general-purpose Layer 2 network that settles its transactions on the Ethereum blockchain. Think of it as a super-fast new lane that connects directly to the main Ethereum highway. 

This is expected to significantly boost Ethereum’s capacity, potentially increasing its transaction processing speed from current levels to anywhere between 5,000 to 600,000 transactions per second (TPS) once an upgrade called Firedancer is fully implemented.

Beyond just speed, SOON Mainnet also acts as a magnet for talented developers. It offers incentives to attract high-quality builders, especially in the APAC (Asia-Pacific) region, who want to create amazing new applications. 

By making it easier and more rewarding for developers to build powerful dApps, SOON hopes to cultivate a vibrant and innovative ecosystem.

Also read: What is SOON SVM? Short but Complete Explanation

How SOON’s Modular Architecture Works

SOON uses a smart, modular architecture, meaning it’s built from different interchangeable parts. This allows it to optimize for security, performance, and cost-effectiveness. 

It combines components like the OP Stack (a framework for building rollups) and its special Decoupled SVM, along with configurable Data Availability (DA) layers like Celestia, EigenDA, and Avail.

This flexibility means that developers can deploy their own high-performance SOON Chains (individual blockchains powered by the SOON Stack) onto any underlying blockchain, or "Layer 1" (L1), such as Ethereum, Bitcoin, or Cosmos. 

This open-source approach allows anyone to create their own super-efficient SVM rollups. 

The goal is to make it as simple as "one click" to launch your own high-performance SVM rollup.

SOON Future Plans: Faster Withdrawals, Interoperability, and More Speed

SOON has an ambitious roadmap for the future:

• ZK Proofs for Faster Withdrawals: They plan to integrate Zero-Knowledge Proofs (ZKPs). Remember how Privasea uses ZKPs for privacy? Here, they're used to make withdrawals from the Layer 2 back to the Layer 1 much faster. Currently, there's often a waiting period (like 7 days) to ensure everything is correct, but ZKPs can reduce this to about a day by instantly proving the transactions are valid.
   

• Interoperability Between SOON Chains: Imagine different SOON Chains being able to talk to each other seamlessly. SOON aims to build in mechanisms for interoperability, allowing messages and assets to move easily between various SOON Chains within the same ecosystem.
   

• Integrating Firedancer: They are closely watching the development of Firedancer, a new validator client for the Solana blockchain. Once Firedancer is stable, SOON plans to integrate it, which is expected to boost the throughput of all SOON Chains even further, potentially reaching enormous speeds.
   

Also read: Exploring Zero-Knowledge Proofs: Enhancing Privacy and Security in Blockchain

SOON: Team Built for Speed

The SOON team brings extensive experience from various blockchain ecosystems. 

Co-founder and CEO Joanna Zeng has a strong background in partnerships from major crypto players like Coinbase. 

Co-founder and CTO Andrew Zhou is well-regarded for his expertise in smart contracts and building Layer 1s, with strong experience in Rust and Golang.

SOON has also garnered significant support from key figures in the industry, including Anatoly "Toly" Yakovenko, the Co-Founder of Solana Labs, along with leaders from Solana Foundation, Coinbase Ventures, Celestia, and other prominent projects. 

This "cobuilder round" of funding is exclusively from builders, emphasizing SOON's commitment to a developer-first approach.

Ultimately, SOON's mission is to build the most powerful rollup stack for any Layer 1. By leveraging the parallel execution power of the SVM and fostering a strong community of developers, SOON aims to usher in a new era of high-quality decentralized applications, where performance is top-tier and costs are minimal. 

They believe this will reduce costs by 10x and provide a 10x performance boost, outperforming many existing solutions.

Discover in-depth articles, expert analysis, and the latest market trends 

on Bitrue’s blog.

Ready to take your crypto journey to the next step?

Register now to Bitrue

SOON: A New Era for Scalability and Innovation?

With its unique Decoupled SVM and modular design, SOON is poised to make a significant impact on blockchain scalability. 

By offering ultra-high transaction processing and reduced costs, it empowers developers to build innovative and high-performance decentralized applications that were previously limited by infrastructure. 

Through its focus on attracting top-tier builders and its commitment to open-source development, SOON is cultivating an ecosystem where creativity can truly flourish and solutions to real-world problems can emerge organically across the entire Web3 space.

Frequently Asked Questions (FAQs)

Q: What is a "rollup" in blockchain? 

A: A rollup is a type of Layer 2 scaling solution that helps blockchains process more transactions by handling them off the main blockchain (Layer 1) and then "rolling up" many transactions into one single transaction to be settled on the main chain. This makes the main chain faster and cheaper to use.

Q What is the difference between EVM and SVM? 

A: EVM (Ethereum Virtual Machine) processes transactions one by one (single-threaded), while SVM (Solana Virtual Machine) can process many transactions at the same time (parallel processing), making it generally faster and more efficient for high-throughput applications.

Q: What does "Decoupled SVM" mean for SOON? 

A: A Decoupled SVM is a special version of the Solana Virtual Machine that SOON developed. It's designed specifically for rollups, allowing for better security, reduced wasted data space, and easier implementation of important features like "fraud proofs" (ways to check if transactions are correct).

Q: Will SOON coin be available on any blockchain? 

A: Yes, the SOON Stack is designed to allow developers to deploy high-performance SVM rollups (called SOON Chains) onto any Layer 1 blockchain, including popular ones like Ethereum, Bitcoin, and Cosmos.