Sony Aims to Revolutionize Ethereum Layer 2

Sony Block Solutions Labs, a joint venture between Sony Group and Startale Labs, has announced the public Ethereum layer two next-generation blockchain Soneium.

According to the press release on August 23, the blockchain aims to be a versatile, general-purpose platform that will empower developers, creators, and communities.

"We think the development of a comprehensive Web3 solution based on blockchain is very significant to the Sony Group, which has developed a wide variety of businesses under its purpose of 'Fill the world with emotion, through the power of creativity and technology,'" said Jun Watanabe, Chairman of Sony Block Solutions Labs.

Soneium Testnet Launch

The company plans to launch the testnet in the coming days. Developers and creators can build their applications on the testnet using initial developer tools and SDKs.

The Ethereum Layer 2 blockchain will handle data processing with fast processing speed and low fees. The chain is designed to have a robust development environment and developer—and creator-centric tools and resources, boosting accessibility.

Crypto to Benefit From New Blockchain

The Soneium blockchain launch will positively impact Astar Network's network and other partners' prices, including Chainlink, Optimism, and The Graph. A0

0star Network is transitioning Astar zkEVM to Soneium, enhancing ASTR's visibility and utility. The revenue generated will be reinvested into Astar.

"ASTR price saw a 10% jump after the announcement, but the upsurge has dipped to 5% in the last 24 hours."

The optimism price surged 8% over the last 24 hours, with a sudden upside move after this new blockchain announcement. It hit a 24-hour high of $1.57. The GRT price also witnessed a 7% upside in the past 24 hours. Meanwhile, the LINK price rose 1.40% in the last 24 hours.

Circle's Role in the New Landscape

Circle has announced that it is redefining the Web3 landscape with bridged USDC on Soneium, making Web3 experiences more accessible. This partnership further cements Soneium's potential to be a revolutionary force in the blockchain ecosystem.

With the support of Astar Network, Alchemy, Chainlink, Circle, Optimism, and The Graph, Soneium is poised to attract developers from various sectors, including entertainment, gaming, and finance.

Future Prospects

The company is considering offering new services besides the existing Web3 services with Soneium.

Blockchain will focus on three values: emotion, creativity, and mainstream adoption. This initiative is expected to significantly shift how blockchain technology is perceived and utilized, particularly in the entertainment and gaming sectors.