Vitalik Buterin, co-founder of Ethereum 
$1,766, expressed his positive views on Soneium, a new Layer-2 (L2) scaling solution supported by Sony. His remarks came amidst discussions about financial censorship and on-chain restrictions following the launch of Soneium. Buterin believes Soneium offers valuable solutions for businesses.
Vitalik Buterin’s Assessment of Soneium
Buterin pointed out that the discussions surrounding the L2 launch vividly demonstrate how blockchain can benefit businesses and users. He noted that blockchain protocols allow for the design of new rules, enabling businesses to make detailed choices regarding their level of control.
Despite dissenters against censorship rules, Buterin stated that the rules established on the network are definitive. Everything is on the network and can be audited by third parties, he emphasized.
Furthermore, he mentioned that businesses could create a closed system with no exit routes. In this scenario, while the root issue could be regulated, users would still know exactly what they are involved in.
“The situation with Soneium vividly illustrates how beneficial Ethereum L2 can be for businesses and users. Businesses can make very detailed choices about how much control they maintain with their users. However, whatever rules they choose, those rules are valid.”
Buterin acknowledged that Sony Group succeeded in creating a system where users can send transactions with a certain speed reduction. He clarified that the Soneium system does not censor users but can only slow down transactions.
ETH L2 Competition Heats Up
New L2 protocols continue to thrive on the network. Following previous updates, Kraken launched the Ethereum scaling solution Ink in December. Among these new protocol launches, Base Network, backed by Coinbase, and Arbitrum continue to lead in transaction volume and Total Value Locked (TVL) within the ecosystem.
Base developers have announced plans for the tokenization of COIN on the protocol this year, highlighting ambitious updates from many leading organizations in the Ethereum ecosystem.
Vitalik Buterin declared that the blockchain world operates as a free market. He added that the sector must focus on two key aspects: ensuring financial activities occur in fully transparent environments and providing users with the tools to understand the platforms they interact with.
As blockchain technologies provide flexible solutions for businesses and transparency for users, the importance of competition and innovative approaches within the ecosystem has been reaffirmed.
