Weekly Update - Layer 1 & Layer 2 News (Week 27, 05/07/2022 – 11/07/2022)
Ethereum developers have activated the Merge on the Sepolia testnet. Approx. 50 Terra projects are migrating to the Polygon network. Ronin attacker in March gained access via a fake job advert.
Key Takeaways
Ethereum (ETH) developers have activated the Merge on the Sepolia testnet. This exercise was essentially a dry run for activating the Merge on the main network, which is currently scheduled for later this year.
Two months on from the Terra (LUNC) collapse, around 50 projects formerly on the network have begun to migrate to Polygon (MATIC).
It has been revealed that the hack in which four out of nine Ronin validators were taken over by an attacker was conducted using a fake job advertisement. The attack on Axie Infinity’s sidechain resulted in US$540M in losses in March this year.
Cronos (CRO) has completed 50.01 million transactions since its launch, an increase of +1.52% from last week.
Highlights
Ethereum layer 2 Immutable X launches ETH-to-dollar withdrawals
Marathon Q2 Bitcoin production down 44% as fleet remains crippled
SHIB burn rate spikes 231% as 187 million SHIB sent to dead address
Baseball club Perth Heat to enhance fan experience with Lightning Network
Bitmain launches 2,400 megahash E9 Ethereum miner ahead of the Merge
Riot Blockchain announces plans to move NY miners to Lone Star State
Compass Mining retrenches 15% of staff, execs to take major pay cuts
Cardano ‘sharks’ scoop up 79.1 million ADA ahead of Vasil hard fork
Layer 1 Project Metric
* % 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 Metric
* 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
Thank you for reading! We hope you find our Weekly Layer 1 & Layer 2 News Update enlightening!
Hungry for more? Visit our Research Hub and University to access other insightful crypto research!
Share with a friend if you like our email!
Por favor transferir Ami cuenta de cristo