This morning, Sony announced the upcoming launch of its own Ethereum (ETH) layer 2 network: Soneium. What do we know about this new network?
Sony unveils Soneium, its layer 2 for Ethereum (ETH)
As Sony has been taking a keen interest in the Web3 ecosystem for the past few years, the company announced early this morning the upcoming launch of its own layer 2 on Ethereum: Soneium :
Introducing #Soneium by #Sony Block Solutions Labs building a public Ethereum layer 2 next-generation blockchain ecosystem designed to invoke emotion and empower creativity.
Soneium aims to connect Web3 with everyday internet services, making blockchain technology more… pic.twitter.com/I7zAIbB5Td
— Soneium 📀 (@soneium) August 23, 2024
So, this network is developed by Sony Block Solutions Labs, itself the fruit of a joint venture between Sony and Startale.
💡 What is a layer 2?
No specific release date has been announced yet, but the first Soneium development tools, SDKs, and datasheets are expected to arrive “in the coming weeks.” This will also lead to the launch of a testnet, allowing developers to start building applications on Layer 2.
Furthermore, according to our colleagues at Decrypt, the launch of the testnet should be done in collaboration with Astar's zkEVM.
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Bringing Billions of People to Web3
Whether through its S.BLOX cryptocurrency exchange or thanks to Soneium, Sony intends to create applications that can be “used daily by people who have never had the opportunity to discover Web3“.
Sota Watanabe, director of Sony Block Solutions Labs, believes the industry is in the midst of a transformation:
The Web3 industry is in the midst of a transformation. We believe that the defining moment for the entire Web3 industry will be whether we, as Web3 companies, can truly deliver solutions that billions of people use every day and make Web3 a mainstream communication tool in the coming years.
If the added value of this network on other existing layer 2s remains to be determined by the concrete uses which will be proposed in the future, an emphasis on intellectual property seems to be on the agenda. Indeed, Sony indicates that it is exploring ways to support creators and protect their content.
👉 Also in the news — Ethereum: 42% of blocks OFAC compliant, fees at record low, ETH/BTC down — What’s going on?
On the stock market, Sony shares are trading at $91.29 on the New York Stock Exchange (NYSE), for a market capitalization of $111.43 billion.
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Source: Press release
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Since 2021, I have devoted my free time to seriously training myself on cryptocurrencies in order to acquire as much knowledge and credibility as possible. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyses on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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