by Sankrit K

Edited by Vera Lim-

Updated September 20 2024

What Is Soneium?

Soneium is a Layer 2 blockchain developed by Sony to bring web3 technologies (NFTs, smart contracts) into everyday use. It aims to provide a user-friendly platform for developers and creators to build dApps, especially in areas like gaming and digital content.

Key Takeaways

Sony launched Soneium, a Layer 2 blockchain on Ethereum, to bridge web2 and web3 technologies.

Soneium utilizes optimistic rollup technology and is built on the OP Stack from Optimism, joining the Superchain ecosystem.

It offers a developer-friendly platform for building dApps in gaming, finance, music, entertainment, and more.

Soneium has partnered with major web3 projects like Astar Network, Chainlink, and Alchemy to enhance its ecosystem.

Initiatives like the Minato testnet and Soneium Spark program support developers with testing environments and funding up to $100,000.

The media tech giant, Sony Group, recently stepped into web3 with the launch of Soneium — a Layer 2 blockchain scaling solution on Ethereum — to reduce the gap between web2 and web3.

Sony, with an operating income of over $1.7 billion as of June 2024, doesn't need any introduction for its dominance in the tech industry. With the development of Soneium, this Japanese conglomerate has the potential to compete with the top Layer 2 chains like Arbitrum One and Base, with a total value locked (TVL) of $13.48 billion and $6.14 billion, respectively, based on information from L2Beat.

Source: L2Beat

Samsung also chipped in by investing in Startale Labs, a web3 startup that is crucial to Soneium blockchain development. The partnership with Startale Labs will help Sony implement web3 applications across various segments with a vast user base, such as gaming, financial services, music, and entertainment, to name a few.

“We invested in Startale Labs because the company is at the forefront of solving key challenges in the Web3 ecosystem by providing essential tools and infrastructure…that simplify the development and deployment of decentralized applications (dApps) and smart contracts.”

— Samsung Next

Understanding Soneium

Source: Soneium

Soneium is a public, open-network Layer 2 blockchain developed by Sony Group. It aims to bring web3 use cases into everyday life by leveraging Sony's diverse businesses and intellectual property (IP) across entertainment, gaming, finance, and electronics.

Soneium is designed to be a comprehensive web3 solution, providing everything from the basic infrastructure to the application layer. It is an Ethereum Layer 2 blockchain that aims to connect the most widely used traditional web2 with the emerging web3. This seamless web connection facilitates smoother web3 onboarding, resulting in accelerated adoption.

Sony Block Solutions Labs, a joint venture between Startale Labs and Sony Group Corporation, is behind the development of Soneium. The venture partnered with multiple other web3 companies/projects, including Astar Network, to offer accessibility to a broader audience circle.

A core principle behind Soneium's development is to maximize blockchain's features, such as efficiency, scalability, and accessibility while solving genuine user challenges. Soneium, being a Layer 2 public blockchain, helps users tackle issues related to slow processing speed, network congestion, and high gas fees.

When it comes to building projects, Soneium aims to provide a developer-friendly space where innovative visions can be tried and tested without burning the budget. Soneium also offers developer-friendly tools and in-depth documentation to encourage creators and developers to experiment with this new Layer 2 blockchain and understand its underlying potential, which will be helpful for the community.

The overarching idea of Soneium is to provide a practical and usable open network for creation. That means anyone can participate in and build on Soneium, promoting a decentralized and collaborative environment.

How Soneium Works

Soneium is an optimistic rollup. It is built on the OP Stack from the Optimism Foundation and is part of the Superchain ecosystem.

OP Stack

OP Stack, a development toolkit, is the foundational framework that provides the modular structure on which Soneium is built. Each layer plays a specific role in the overall system.

Introduced in the Optimism 'Bedrock' upgrade, OP Stack provides the infrastructure that helps projects launch efficiently and simplifies the creation of Layer 2 blockchains.

Source: Soneium and the Optimism Superchain

Data Availability Layer

The data availability layer ensures all transaction data is posted on Ethereum L1, making it publicly verifiable and preventing censorship or data withholding.

The Ethereum main chain acts as the source of truth, providing security and decentralization.

Sequencing Layer

This layer is responsible for collecting transactions, ordering them, and creating transaction batches.

Currently, this layer is centralized, with a single entity (the "sequencer") performing this role. Future developments aim for decentralized sequencing mechanisms for greater trustlessness.

Derivation Layer

The derivation layer takes the transaction batches and L1 state as input and re-executes them on L2 to derive the new L2 state root. This process ensures consistency between L1 and L2 states.

Execution Layer

The execution layer actually processes the transactions and updates the L2 state based on the derived state root.

It uses the Ethereum Virtual Machine (EVM) for compatibility with Ethereum smart contracts.

Proof Layer

Generates fraud proofs that can be submitted to L1 to challenge the validity of L2 transaction batches. This mechanism ensures the system's integrity and prevents malicious actors from submitting invalid state transitions.

Optimism Superchain

Optimism Superchain is an architectural framework that offers a collaborative ecosystem for the connection, transaction, and interaction of multiple OP Stack-based Layer 2 blockchain networks.

These interconnected networks also share resources such as security and communication layers to enhance interoperability and improve overall scalability.

The interconnection of numerous blockchain networks using the Optimism Superchain helps in the creation of a more collaborative and unified Layer 2 ecosystem. This interconnectivity also helps reduce the gap among blockchain scaling solutions, encouraging the development of more Layer 2 projects.

Shared Technology

OP Stack: All blockchains within the Superchain, including Soneium, use OP Stack as their foundational technology. This creates a shared codebase and ensures compatibility across the ecosystem.

Interoperability: The shared OP Stack facilitates seamless communication and asset transfers between Soneium and other Superchain blockchains for an interconnected environment.

Collective Governance

Optimism Collective: The Superchain operates under the governance of the Optimism Collective, a decentralized entity responsible for overseeing the ecosystem's development and growth.

Shared Revenue: Revenue generated within the Superchain, including transaction fees and potentially other sources, is pooled and used to fund projects and initiatives that benefit the entire ecosystem.

Community-Driven: The Optimism Collective aims to be a community-driven organization where token holders have a say in the direction of the Superchain.

Fees

Soneium operates as an Ethereum Layer 2 blockchain. This means it relies on the underlying Ethereum mainnet (Layer 1) for security and finality.

Since Soneium is built on top of Ethereum, it inherits the fundamental fee structure and mechanisms from the Ethereum mainnet. Any changes to the fee mechanism on Ethereum will likely have implications for Soneium.

EIP-1559 introduces a dynamic fee mechanism on the Ethereum mainnet. It replaces the previous first-price auction model with a base fee that fluctuates based on network congestion, along with a user-adjustable priority fee.

Source: 2077 Research

There are two fees on the Soneium Network: an L1 fee and an L2 fee.

The L1 fee is the cost to publish a transaction on the L1 blockchain, and the L2 fee is the cost to execute the transaction on the L2 network.

The L1 fee can vary depending on how busy the network is. Users can save money on L1 fees by submitting transactions during off-peak hours.

The L2 fee also varies depending on network usage.

What Is Minato? Soneium’s Optimistic Rollup Testnet

Minato is Soneium’s public testnet that allows developers to test apps to understand and analyze their performance and functionality. Here, developers can use the testnet to improve the existing features before the mainnet launches.

Developers can visit the website and connect their wallets like MetaMask or WalletConnect to start using Minato. Once the wallet is connected, users can switch the network from the default Sepolia to the Minato network using the browser extension of the connected wallet.

Source: Soneium Testnet

Minato was launched in August 2024. It aims to form early communities of web3 creators and developers by offering the first-hand Soneium experience. The early launch of this testnet aims to get collective feedback from the community and fix any potential issues that may arise. If you're keen to explore Minato, find out how to add Minato to MetaMask.

Soneium has also provided the Minato blockchain explorer in association with Blockscout, which offers free tools to inspect and analyze EVM-based blockchains. This block explorer provides APIs and blockchain activities, including transactions, transaction growth, user operations, verified contracts, charts and stats related to active accounts, account growth, average block size, verified contract growth, and more.

Source: Soneium Explorer Transactions

The Minato explorer also provides a detailed section on the gas fee, including the average gas limit, average gas price, and gas used growth. Users can use this data to complete their transactions during low average gas price periods, optimizing their costs.

Source: Soneium Testnet Explorer Gas

Soneium’s Partnerships

Sony Block Solutions Labs has collaborated with numerous partners to introduce Soneium and build on this new Layer 2 blockchain to improve user visibility, accessibility, and adoption across the web3 space.

We’ll dive to learn more about the partners associated with Soneium:

Astar Network: As a special launch partner, Astar Network, which supports multi-chain smart contracts, is transitioning from its Astar zkEVM to Soneium in various planned evolutionary phases. This partnership enhances the utility of Astar Network’s native token, ASTR, thereby strengthening both ecosystems with a strong commitment toward the community.

Transak: Soneium's partnership with Transak, a major web3 infrastructure service provider with a user base of over 5.7 million across 160 countries, provides Soneium’s accessibility on a global scale. Transak’s features, such as on-ramp, off-ramp, NFT transactions using fiat currencies, etc., will help to smoothen the web2 to web3 onboarding process.

Alchemy: Provides cutting-edge web3 tools, such as a user-friendly dashboard and infrastructure, to kick-start the Soneium project’s development. Alchemy’s Supernode, a leading web3 API with a track record of over $100 billion in on-chain transaction volume, will help build and scale dApps on the Soneium blockchain while providing the best possible user experience.

Optimism: Built with Optimism's OP Stack, Soneium functions as a blockchain that allows efficient integration with multiple other networks while benefiting from the security aspects of Ethereum’s mainnet in the Superchain ecosystem. The developer-friendly environment, with sufficient free tools and resources, helps projects build apps or platforms with high transaction speed and lower gas fees.

Chainlink: One of Soneium’s major technical launch partners, Chainlink is a decentralized computing platform that offers a bundle of web3 services, including data feeds, smart contract automation, and more. With the help of its decentralized oracle infrastructure, Chainlink has helped projects surpass a total transaction value of over $15 trillion since its official launch in May 2019.

Circle: USD Coin (USDC), developed by Circle, is the second largest stablecoin, with a market cap of over $35 billion as of September 2024. The transparency policies and liquidity of bridged USDC will help power users' transactions on Soneium, thereby improving adoption.

The Graph: With expertise in serving more than 75K projects, The Graph is a web3 protocol that allows developers to organize and access blockchain data. Claimed to have almost 100% uptime, The Graph will play a pivotal role for Soneium developers in providing its web3 community with a world-class user experience.

Pyth Network: As a leading blockchain oracle that provides real-time market data, Pyth Network has offered its services for over 75 blockchains and 400 apps. The initial phase of its partnership with Soneium integrates the Pyth Price Feeds, delivering high-fidelity data for Soneium Spark participants.

What Is Soneium Spark? Build On Soneium

Soneium Spark is an initiative to foster builders and creators with visionary talent who develop innovative projects. This Sony program aims to support pioneers who build on the Soneium blockchain and impact the web3 ecosystem.

The main mission of Soneium Spark is ‘igniting tomorrow’s innovations’, and it provides:

Expert mentorship for web3 projects to boost its overall potential.

Advanced technological infrastructure is readily available for seamless access.

Partnerships with industry leaders for project growth and development.

Access to a network of influential connections to drive the project forward.

Soneium Spark offers up to $100,000 for each selected team with innovative ideas to build on the Soneium blockchain. This program has initiated its first cohort of applications with a deadline that lasts till the end of September 2024.

The selected projects from the first cohort will be launched with an incubation period that is expected to begin in mid-October 2024. The incubation process is conducted fully online to enable global participation along with offline events.

Source: Soneium Spark

Participants can fill out the application form available on the website to kick-start their journey on the Soneium blockchain. Here, the participants of Soneium Spark are asked to provide the project’s overview, team introduction, video demo of their project, development stage, links to relevant documentation, and more.

Conclusion

The launch of the testnet Minato will allow developers to build on Soneium using the software development kits (SDKs) and an in-depth instruction manual from the very beginning.

The collaboration with established Web3 partners like Optimism, Astar Network, Chainlink, and many others will help Sony Block Solutions Labs speed up adoption, reduce Web3 onboarding friction, and lower gas fees across the entire Soneium ecosystem.

The inclusion of incubation programs like Soneium Spark will also help creators and developers turn their innovative ideas into fully functional, Soneium-based projects. The growth and development of Soneium will undoubtedly boost the Layer 2 space and the Web3 ecosystem as a whole.

This article is only for informational and educational purposes and should not be taken as financial advice. Always do your own research before investing in any crypto projects.

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