Astar, Sony To Launch Ethereum L2 Soneium: ASTR Up 6%
Astar, Sony To Launch Ethereum L2 Soneium: ASTR Up 6% Sony Block Solutions Labs – a joint venture between Sony Group and Startale – announced the launch of Soneium, an Ethereum Layer 2 blockchain network. The launch will happen in the coming weeks as Sony partners with Astar Network. Astar Network zkEVM Transition to Sony’s Soneium L2 The Astar Network announced the transition of its zkEVM assets to Soneium L2 thereby bringing new developments and opportunities to the community and stakeholders. Through its partnership with the Sony Group, the Astar Network plans to leverage Sony’s expertise in gaming, entertainment, and finance. This development will further facilitate the integration of Web3 technology into real-world applications, expanding its reach and appeal to a wider audience. Thus, the growth of Soneium Layer 2 will directly lead to the growth and success of the Astar ecosystem. Revenue generated within Soneium will be reinvested into Astar, ensuring continuous growth and innovation that will benefit the entire community. 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, 2024Ethereum Layer-2 Soneium has been under development since last year September 2023. The blockchain seeks to address key challenges including, security, scalability, and decentralization. It also aims to deliver “user-friendly” practical applications across gaming, entertainment, and finance. Moreover, Soneium’s technical infrastructure will rely on a Superchain ecosystem platform by leveraging Optimism OP Stack technology. ASTR Price Surges 6% Eyeing Major Utility Boost Soon after the development, the Astar (ASTR) price surged more than 6% moving all the way to $0.75. Investor excitement surrounds the major utility boost for the ASTR token. Astar’s native ASTR token will play a crucial role within the Soneium L2 network connected using Chainlink’s CCIP to a large network of ecosystems. This will further boost interoperability across major Ethereum chains and the Optimism Superchain ecosystem. Which in turn will lead to greater flexibility and utility to users. The Astar Foundation announced that it would stay dedicated to expanding its mainnet and increasing the utility and visibility of ASTR tokens. To boost ASTR’s application on Soneium L2, the Foundation plans to meet the evolving needs of stakeholders and drive ongoing innovation and value. This strategic partnership with Soneium L2 will unlock new opportunities and benefits for ASTR holders, fuelling expansion in the Web3 space. Astar shared via Twitter, “We’re thrilled to embark on this transformative journey with Soneium, Sony Group, and Startale, marking a new era for Astar.”