Weekly Update - Layer 1 & Layer 2 News (Week 24, 14/06/2022 – 20/06/2022)
Arbitrum launches a reward system called Arbitrum Odyssey. Ethereum launches a testnet Beacon chain. VeChain tests Proof of Authority 2.0.
Key Takeaways
Arbitrum announced the launch of the Arbitrum Odyssey reward system while holding 51% of the total market share in terms of TVL for Layer 2 solutions at press time.
Ethereum (ETH) launched a testnet Beacon chain which utilises Proof Of Stake consensus instead of Proof Of Work.
VeChain (VET) successfully tested its new consensus update named Proof Of Authority 2.0, which makes transactions virtually impossible to revert.
Cronos (CRO) reached 47.40 million total transactions, increasing +2.30% from last week.
Highlights
Solana DeFi platform votes to control whale account in bid to avoid liquidation 'chaos'
Litecoin’s (LTC) MWEB was going to aid a rally but is now getting delisted – what’s going on
Bitcoin (BTC) mining equipment older than 2019 reaches shutdown price
Algorand (ALGO) oracle network Goracle teams with blockchain development firm HEADLINE
The latest release of Besu helps test The Merge on any platform
Lightning Network now supported on Bitcoin e-commerce savings site Purse.io
Layer 1 Project Metrics
* % change is based on the difference between two subsequent bi-weekly periods
† Sum of P, X and C-chain total transactions
‘–’ denotes missing, unavailable, or incomplete data
Sources: Coingecko, Etherscan,Ethernodes, Cardanoscan, Avascan, Solana Beach, FTMscan, BSCscan,CronoScan, Cronos Explorer, DeFi Llama
Layer 2 Project Metrics
* Figure refers to Lightning nodes with active channels
† Ronin is the sidechain developed by Sky Mavis for Axie Infinity
‘–’ denotes missing, unavailable, or incomplete data
Sources: DeFi Llama, Polygonscan, Clark Moody Bitcoin, 1ML, Ronin Explorer, Coingecko, Optimistic Etherscan, Arbiscan, Boba Explorer, Andromeda Metis Explorer
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