Sony Launches A New Era for Creators on Ethereum’s Layer 2_blog

01 Nov, 2024

Sony Launches A New Era for Creators on Ethereum’s Layer 2

Sony Launches Soneium: New Ethereum Layer 2 Solution for Creators

In an exciting announcement, consumer electronics leader Sony has introduced Soneium, its proprietary Ethereum Layer 2 (L2) solution, set to go live on testnet in the coming weeks. This launch comes amid rising concerns in the crypto market over infrastructural inefficiencies and the need for more consumer-friendly applications.

Focus on Creator Rights and Profit Sharing

Although details regarding Soneium's specific on-chain use cases are still unfolding, Sony’s primary emphasis is on supporting creators. The official Soneium blog highlights the importance of protecting creative rights and establishing innovative profit-sharing mechanisms that benefit both creators and their fans. This commitment to empowering content creators aligns with current industry trends, underscoring the growing recognition of their role in driving engagement and innovation.

Built on Optimism’s Rollup Development Kit

Soneium will leverage Optimism’s rollup development kit, known as the "OP Stack," which currently supports 29 L2 chains within its Superchain ecosystem. This robust technological foundation ensures scalability and efficiency—critical factors for any successful blockchain project.

Collaboration with Startale

The Soneium launch will occur under Sony Block Solutions Labs, a joint venture between Sony Group Corporation and Startale, a Singapore-based blockchain infrastructure startup. With a recent $3.5 million funding round in June 2023, Startale brings valuable expertise, particularly its role in developing the Astar Network zkEVM chain, which will transition to Soneium.

ZKsync Welcomes CREATOR Chain

At the same time, ZKsync is enhancing its ecosystem with the introduction of the CREATOR chain, a project incubated by ZTX (ZepetoX). This initiative seeks to leverage ZEPETO’s extensive user base of 20 million monthly active users to bridge Web2 and Web3. The CREATOR chain aims to provide personalized decentralized finance (DeFi) services for creators, capitalizing on ZKsync's zero-knowledge technology to enhance scalability and reduce transaction costs.

Record Growth in Layer 2 Transactions

Recent metrics indicate that Layer 2 transactions are experiencing unprecedented growth, with Blast L2 nearing 2.5 million transactions in the past week alone. This positions it as the second most utilized L2 solution, following Base, according to data from Growthepie.

As these developments progress, the focus on creator-centric blockchain solutions signals a transformative shift in the digital economy, presenting opportunities for mainstream adoption and innovative applications in the ever-evolving landscape of blockchain technology.

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04 Nov, 2024

Laos’ Inflation Rate Drops to 20.7% in October

Laos’s inflation rate dropped slightly in October to 20.7 percent, down from 21.7 percent in September, according to official reports.According to data from the National Statistics Bureau, the Consumer Price Index also surged, rising from 245,8 in September to 249,6 in October, highlighting the escalating cost of living in the country.In October, healthcare and medicine costs decreased by 30.8 percent but still remain among the highest categories. Accommodation, water, electricity, and cooking gas costs rose by 29.8 percent, while prices in the restaurant and hotel category increased by 27.5 percent. Household appliances went up by 27.3 percent, education costs by 26.3 percent, and food and non-alcoholic beverages—which are the most consumed items by Lao people—increased by 22.1 percent.According to the report, some of the main reasons behind this month’s decrease of inflation rate were lower exchange rate pressure, together with changes in world oil prices and the domestic market struggling to adjust.

30 Oct, 2024

Vientiane Province Boosts Tourism Goals with 1.3 Million Visitor Target by End of 2025

Vientiane Province is actively boosting tourism to position the industry as a key economic driver, with a goal to attract over 1.3 million visitors by the end of 2025. While officials are working to strengthen regional and international cooperation in tourism, aiming to promote its natural, historical, cultural, and agricultural attractions.Sisawat Sengphachan, Director General of the Department of Press, Culture, and Tourism of Vientiane, shared on 24 October that in the first nine months of 2024, the province welcomed 1,031,756 domestic and international visitors, including 281,891 foreign tourists, marking a total increase of 366,917 from the same period in 2023.This growth generated total revenue of LAK 707 billion (USD 32.2 million), marking a year-on-year rise of LAK 489 billion (USD 22.2 million). Sisawat also noted that Vientiane’s efforts are concentrated on generating foreign currency, creating employment in urban and rural areas, and boosting the local economy. The province currently manages 211 tourist sites, including natural, cultural, and historical locations.Looking ahead, Vientiane aims to attract 1.3 million tourists by 2025, projecting revenue of over LAK 782 billion (USD 35.8 million).To support the anticipated growth, Vientiane Province’s authorities are planning to use the over-1,000 licensed tourism-related businesses to welcome an increased influx of visitors.