Sony Block Solutions Labs, a subsidiary of Sony Group, has revealed plans to develop Soneium, an ethereum Layer-2 network designed to accelerate the adoption of blockchain technology, according to an Aug. 23 statement. statement.
The Layer 2 network, the result of a collaboration with blockchain infrastructure provider Startale, seeks to unite blockchain technology (Web3) with everyday Internet services.
This project is a sign of Sony's continued expansion into the digital asset space. Sony Group hinted that it would launch a cryptocurrency exchange platform in July after acquiring Amber Japan's WhaleFin exchange. The tech giant plans to rebrand and relaunch the exchange, though the timeline is still unclear.
Soneio
The network would be designed as a versatile, general-purpose blockchain with competitive features, combining elements from entertainment, gaming, finance and other sectors.
Soneium would leverage the Op Stack and Superchain developed by the Optimism Foundation. A testnet will be launched in the coming weeks to give developers hands-on experience.
Several crypto protocols, including Chainlink and the Astar network, are already joining the project as launch partners. Astar said its zkEVM solution would be ported to Soneium and its native ASTR token will play a vital role within the planned layer-2 solution.
Jun Watanabe, president of Sony Block Solutions Labs, highlighted the opportunity Soneium offers to introduce blockchain technology to a global audience by leveraging Sony’s broad reach in the entertainment, financial, electronics and gaming sectors. He emphasized that Soneium will eventually integrate with Sony Group’s services to attract users who are unfamiliar with Web3.
Layer 2 networks
ethereum's layer 2 networks are designed to improve the scalability and speed of the mainnet and have seen sustained success recently.
Over the past year, the Layer 2 landscape has been filled with major cryptocurrency companies, including Coinbase, launching their networks and achieving mass adoption by the community.
As a result, layer 2 networks now handle the majority of ethereum activity. According to available information eth-and-the-rise-of-l2s”>dataApproximately 89% of blockchain transactions occur on these platforms.
However, some critics argue that this expansion could hurt ethereum in the long run. These networks have already driven blockchain network fees to three-year lows and could also potentially signal the end of eth’s “ultrasonic money” narrative.
Mentioned in this article
(tags to translate)ethereum