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Sony Group takes plunge into Web3 with new Ethereum Layer-2 network Soneium

August 23, 2024Updated:August 23, 2024No Comments2 Mins Read
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Sony Group takes plunge into Web3 with new Ethereum Layer-2 network Soneium
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Sony Block Options Labs, a subsidiary of Sony Group, has unveiled plans to develop Soneium, an Ethereum Layer-2 community designed to speed up blockchain know-how adoption, in response to an Aug. 23 assertion.

The layer-2 community—a results of a collaboration with blockchain infrastructure supplier Startale—seeks to bridge blockchain know-how (Web3) with on a regular basis web providers.

This venture indicators Sony’s ongoing enlargement into the digital asset house. Sony Group hinted at launching a crypto alternate in July after buying Amber Japan’s WhaleFin alternate. The tech large plans to rename and relaunch the alternate, though the timeline stays unclear.

Soneium

The community can be designed as a flexible, general-purpose blockchain with aggressive options, mixing components from leisure, gaming, finance, and different sectors.

Soneium would leverage the Op Stack and Superchain developed by the Optimism Basis. A testnet might be launched within the coming weeks to offer builders with hands-on expertise.

A number of crypto protocols, together with Chainlink and the Astar community, are already becoming a member of the venture as launch companions. Astar mentioned its zkEVM answer would transition into Soneium, and its native ASTR token will play a significant function throughout the deliberate layer-2 answer.

Jun Watanabe, Chairman of Sony Block Options Labs, highlighted Soneium’s alternative to introduce blockchain know-how to a world viewers by leveraging Sony’s in depth attain throughout leisure, finance, electronics, and gaming. He emphasised that Soneium will finally combine with Sony Group providers to draw customers unfamiliar with Web3.

Layer-2 networks

Ethereum layer-2 networks are designed to reinforce mainnet scalability and velocity and have seen sustained success just lately.

Over the previous 12 months, the layer-2 panorama has grow to be crowded with main crypto corporations, together with Coinbase, launching their networks and scoring large group adoption.

Consequently, layer-2 networks now deal with most of Ethereum’s exercise. In keeping with obtainable information, about 89% of blockchain transactions happen on these platforms.

Sony Group takes plunge into Web3 with new Ethereum Layer-2 network Soneium
Ethereum layer-2 networks (Supply: Coinbase)

Nevertheless, some critics argue that this enlargement might hurt Ethereum in the long term. These networks have already pushed the blockchain community’s charges to three-year lows and will additionally doubtlessly sign the tip of ETH’s “ultrasound cash” narrative.

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