Sony Announces Ethereum L2 Soneium On Optimism, These Crypto To Rally

Sony Group announces its own blockchain “Soneium” in partnership with Startale. The public Ethereum layer 2 blockchain is built on Optimism’s OP Stack. With support from Astar Network, Alchemy, Chainlink, Circle, Optimism, and The Graph, the versatile chain aims to attract app developers from sectors including entertainment, gaming, and finance.

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 2 next-generation blockchain Soneium, as per a press release on August 23.

The company asserts Soneium is planned to be a versatile, general-purpose blockchain that aims to 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, Sony Block Solutions Labs.

The company is considering offering new services in addition to the existing Web3 services with Soneium in the future. The blockchain will focus on three values — emotion, creative, and going mainstream.

Soneium Testnet Launch

The company plans to launch testnet in the coming days. Notably, developers and creators can even start building their own 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. Also, the chain is designed to have a robust development environment, developer & creator-centric tools and resources, and boost accessibility.

Crypto to Benefit From New Blockchain

The Soneium blockchain launch will boost in network and prices of Astar Network and other partners including Chainlink, Optimism, and The Graph.

Astar Network is transitioning Astar zkEVM to Soneium, enhancing ASTR’s visibility and utility. Moreover, the revenue generated will be reinvested into Astar.

Astar Network is undergoing a two-phase evolution – Phase 1 has begun.

We’re transitioning Astar zkEVM to @soneium L2, an Ethereum Layer 2 developed by Sony Block Solutions Labs – a joint venture by Sony Group and @StartaleHQ. This strategic alignment sets the stage for new… pic.twitter.com/k5SzopGRUJ

— Astar Network (@AstarNetwork) August 23, 2024

ASTR price saw 10% jump after the announcement, but the upsurge has not dipped to 5% in the last 24 hours. The 24-hour low and high are 0.06902 and 0.0772, respectively.

Optimism price surged 8% over the last 24 hours, with a sudden upside move after this new blockchain announcement. It hit a 24-high of $1.57.

GRT price also witnessed a 7% upside in the past 24 hours. Meanwhile, LINK price rose 1.40% in the last 24 hours.

Meanwhile, Circle said it is redefining the Web3 landscape with bridged USDC on Soneium, making Web3 experiences more accessible.

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Varinder Singh

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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