In response to recent controversy surrounding Sony's new Layer-2 blockchain platform Soneium, Ethereum co-founder Vitalik Buterin shared insights on how the situation demonstrates blockchain's business value.
Customizable Control Through Smart Contracts
Buterin emphasized how Ethereum's infrastructure allows businesses to precisely calibrate their level of control while maintaining transparency. "Businesses can make very fine-grained choices around how much control they keep versus give to users. But whatever rules they choose, that's what the rules are," he stated.
The Soneium Debate
The debate ignited this week when Soneium launched with restrictions on memecoins, leading to accusations of censorship. However, Buterin clarified that Sony's approach represents a deliberate design choice rather than arbitrary censorship. He noted that Soneium implements "speed bumps" for transactions without outright blocking them.
Transparency Benefits
A key advantage Buterin highlighted is the inherent transparency of blockchain systems. All rules are publicly visible on-chain and can be independently audited. This allows users to make informed decisions about participating in the system, while platforms like L2Beat help maintain accountability.
Market Competition Heats Up
Soneium joins an increasingly competitive Ethereum Layer-2 ecosystem. Currently, Coinbase's Base Network and Arbitrum lead in transaction volume and Total Value Locked (TVL). The entry of major corporations like Sony indicates growing mainstream interest in blockchain scaling solutions.
Looking Forward
Buterin emphasized two key factors for the industry's health: maintaining substantial financial activity in open environments and providing users with tools to understand the platforms they use. As more corporations develop custom blockchain solutions, these principles will help balance innovation with user empowerment.