Sony, the renowned Japanese technology giant, is preparing to launch a new blockchain called Soneium, which will operate as a layer 2 network on Ethereum. The testnet for Soneium is set to go live soon, marking Sony’s significant entry into the blockchain space as interest in decentralized technology continues to grow.
Sony Block Solutions Labs, a joint venture between Sony Group Corporation and Singapore-based Startale Labs, announced the development of Soneium on Friday. This new blockchain is designed to utilize optimistic roll-up technology, a solution developed to address the scalability problem by executing the transactions outside the blockchain mainnet while counting on the security and stability of the parent chain. To achieve its goal of offering cheaper transactions on the Ethereum network, Soneium plans to incorporate Ethereum’s consensus mechanism.
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Soneium and Its Foundation on Optimism Technology
The report highlights that Soneium will utilize the Optimism network’s OP Stack, a technology that allows developers to build their networks using Optimism’s framework. Other major entities have adopted this approach, including Coinbase’s Base blockchain and Worldcoin’s World Chain. The OP Stack offers developers a scalable and secure foundation, positioning Soneium as a promising new player in the blockchain space.
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Sota Watanabe, the CEO of Startale Labs and co-founder of Astar Network, fully endorsed Soneium and the new chain while distancing himself from other projects such as Astar zkEVM. The supply-side application of Soneium will help strengthen Astar zkEVM’s position by connecting its assets and infrastructure.
In terms of its vision and mission for the first year of its establishment, Watanabe said that Soneium aims to bring new users to Web3. He reiterated that it will take time for the technology and the community to prepare for prime time. In the future, Watanabe plans to add Sony’s offerings, such as Sony Bank, Sony Music, and Sony Pictures, to the Soneium-based blockchain system within the next two years.
Expanding Soneium’s Reach in the Blockchain Ecosystem
Watanabe has operationalized Soneium for Sony products, but he aims to sign other enterprises and significant DApps to use Soneium in the next three years. Although this timeline is rather vague, Sony plans to seek out and create partnerships and integrations immediately to solidify Soneium as the primary blockchain.
Conclusion
As the company prepares to launch Soneium, Sony is ready to become a leader in blockchain technologies. Using Ethereum layer 2 and Optimism OP Stack, Soneium wants to address scalability and price efficiency issues in decentralized transactions. While Sony and its partners build up more enterprises and applications on the platform, Soneium might contribute a lot to the further development of blockchain systems.
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Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.