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Vitalik Buterin Backs Soneium as Great Ethereum Layer-2 for Corporations
01/16/2025 07:13
Vitalik Buterin endorses Sony BSL's Soneium, a new Ethereum Layer-2 blockchain, despite controversy over token restrictions.
Key Notes
- Vitalik Buterin defends Soneium’s token restrictions, emphasizing onchain governance and transparency.
- Soneium processed 47 million transactions in four months, attracting over 14 million users.
- Soneium incorporates USDC as the main exchange token and aims to bridge Web2 and Web3. .
Ethereum co-founder Vitalik Buterin has endorsed Soneium, a new Layer-2 blockchain built on Ethereum, as a promising solution for users and businesses. Launched on January 14, 2025, by Sony Block Solutions Labs (Sony BSL), Soneium has already generated significant attention.
“The Soneium situation is a good live demonstration of how launching an ethereum L2 is great for businesses *and* users. Businesses can make very fine-grained choices around how much control they keep vs give to users,” said Vitalik.
The launch, however, did not escape controversy, as its unique restrictions on certain tokens sparked debate. Despite backlash, Buterin defended platform rules, emphasizing the principle that rules encoded onchain define governance. He underlined how blockchain technology empowers businesses to exercise precise control while ensuring transparency.
“But whatever rules they choose, that’s what the rules are. Everything is onchain, transparent, and auditable by third parties,” Vitalik said.
Soneium’s mainnet debut marks a milestone in Ethereum’s Layer-2 scaling solutions, joining a competitive field led by networks like Base and Arbitrum. The blockchain’s ability to restrict meme coins drew criticism, but Buterin clarified that such measures only act as speed bumps rather than outright censorship.
Soneium’s Impressive Test Phase—47M Transactions in Four Months
During a four-month testing phase, Soneium processed 47 million transactions and attracted over 14 million users, as reported by Blockscout data. This performance highlights the platform’s ability to manage substantial transaction volumes while appealing to a wide user base. Sota Watanabe, director of Sony BSL, emphasized the platform’s inclusive design, stating: “Soneium is meant for everyone.”
The platform distinguishes itself by incorporating USDC as the main exchange token through a collaboration with Circle. This strategic move enhances its reliability and bridges the divide between conventional and decentralized financial ecosystems. Sony BSL envisions further integration of Web2 and Web3 technologies to offer users a unified and seamless experience.
Despite intense competition within the Ethereum ecosystem, Soneium introduces a novel approach. Vitalik Buterin underscored the importance of such advancements, advocating for open environments to conduct essential financial activities while equipping users with tools to navigate these platforms effectively.
Ethereum Layer-2 Push
Sony BSL’s bold entry into the Ethereum Layer-2 space comes amid ongoing competition among major players. In December, Kraken launched Ink, an Ethereum scaling solution, amplifying the rivalry for market dominance. Simultaneously, Base Network, backed by Coinbase and Arbitrum, maintains leadership in transaction volume and Total Value Locked (TVL).
Base developers aim to innovate further by tokenizing COIN on their protocol this year. Such advancements underscore the swift transformation of the Ethereum ecosystem, as every new initiative redefines the market’s structure. Soneium, however, stands out for its business-friendly design and auditable transparency. Buterin’s comments on the blockchain’s capabilities show its potential to balance control and user autonomy.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
