Vitalik Buterin, co-founder of Ethereum, recently shared his thoughts on Sony's new blockchain platform, Soneium, launched on January 14.
He provided a detailed analysis of how it presents the benefits of Ethereum Layer 2 (L2) solutions for businesses and users.
Buterin Highlights Transparency and Control in Soneium
According to Buterin, implementing an Ethereum L2 is a powerful tool for businesses. L2 helps them make detailed decisions about the level of control they want to retain over their system.
"Businesses can make very detailed choices about the level of control they retain or grant to users. But whatever rules they choose, that is the rule. Everything is on-chain, transparent, and can be audited by third parties," Buterin said on X.
Buterin's comments come amid concerns about asset freezes and rug-pull allegations raising questions about the centralization of Soneium. Soneium is built on Optimism's OP Stack, which is said to have blocked traders from being able to trade certain Meme Coins.
Soneium has responded that they have imposed some temporary restrictions on certain contracts to protect intellectual property rights.
"We have taken steps to protect intellectual property, ensuring a fair and inclusive ecosystem. Temporary restrictions on certain contracts at the RPC level have been implemented to protect creators' rights while encouraging responsible innovation," Soneium clarified.
However, Buterin emphasized that the inherent transparency in blockchain technology means that businesses cannot hide behind opaque systems. Whatever rules they choose to enforce are clear to everyone.
Ethereum L2 can be used to create closed systems where operators have full control over the environment. In these cases, the system may allow operators to modify the 'state root' – the core structure of the blockchain.
However, since everything is on-chain, users are fully aware of what they are participating in. The presence of independent auditors and various 'internet sleuths' also ensures that even in a closed system, users can still monitor and verify the platform's activities.
He emphasized L2 technology and its ability to create multiple blockchains serving different business models.
Buterin also added that businesses may choose to design more open systems. He emphasized that businesses have the freedom to choose between models, from completely closed to completely open.
For example, Sony's Soneium falls into the hybrid category. In this system, users have the option to transact on Ethereum L2 if needed, but the process has a 'big barrier'.
"And you can also create a system where users know they can send transactions on L2 if needed, but there is a big barrier – the processor can regulate but cannot censor. This is what Sony has done," Buterin explained.
However, not everyone is satisfied with Buterin's clarification.
"It's hard to understand why there is a need to use blockchain if they treat it like a private database," wrote cryptocurrency influencer Pop Punk on X.