Crypto: Does Sony Want to Compete with Ethereum?

Sony, the Japanese electronics giant, makes a noticeable entry into the Web3 universe with the launch of its own public level 2 crypto blockchain on Ethereum, named “Soneium.” This ambitious project is developed by Sony Block Solutions Labs, Sony’s Web3 branch, and aims to connect blockchain technology (Web3) to everyday internet services (Web2).

Crypto: Sony launches its layer 2 blockchain!

Sony’s recent announcement revealed that the Soneium testnet will be launched in the coming days, allowing developers and projects to start building on this new platform. Applications on this crypto network will mainly focus on the finance, entertainment, and gaming sectors, such as MetaFight’s Tap 2 Earn, which is currently booming on Telegram with already over 140,000 users!

The Soneium project has already attracted renowned partners such as Astar Network, Alchemy, Chainlink, Circle, Optimism, and The Graph, which demonstrates the importance and potential of this initiative. By collaborating with these key players in the blockchain ecosystem, Sony hopes to create a robust and versatile platform that can compete with existing solutions in the crypto market.

Could Sony compete with Ethereum?

Sony’s goal with Soneium is to facilitate the adoption of blockchain technology by making it accessible and integrated into the internet services used daily. This approach could revolutionize how users interact with online services, offering increased transparency and security through the blockchain.

However, this initiative also raises questions about competition with Ethereum, the blockchain on which Soneium is built. Although Sony does not necessarily seek to replace Ethereum, the launch of Soneium could represent an attractive alternative for crypto developers and users looking for more specialized and optimized solutions for certain sectors.

Sony’s launch of Soneium marks an important step in the evolution of blockchain technology and Web3. By combining Sony’s expertise in technology and entertainment with the capabilities of the blockchain, Soneium could well redefine the market and become a major player in the ecosystem.