Weekly Update - Layer 1 & Layer 2 News (Week 18, 03/05/2022 – 09/05/2022)
$BTC hashrate climbs, reaches halfway point towards next halving. $ETH dev Tim Beiko highlights requirements for seamless Merge. Cronos ‘Huygens’ mainnet upgrade launches successfully.
Key Takeaways
Despite macro headwinds and a recent price decline, Bitcoin’s (BTC) hashrate continued climbing higher as the 105,000th block was mined — marking 50% of the journey into its next halving.
In the Ethereum (ETH) AllCoreDevs Update 011, Tim Beiko highlighted the technical requirements needed for the Merge to happen in a seamless manner — continued Mainnet shadowforks without returning any errors.
The Cronos mainnet upgrade v0.7.0 ‘Huygens’ was successful. The upgrade introduces variable transaction fees depending on network utilisation and the performance of the node storage.
Cronos (CRO) saw a +5.44% increase in total transactions to 39.29M. The total number of wallet addresses now stands at 761,368, up +3.93% from last week.
Highlights
Meta’s Instagram to support NFTs from Ethereum, Polygon, Solana, Flow
Polkadot upgrade locks in parachain messaging major step forward for multi-chain interoperability
Apecoin integrates with Polygon, DAO Board member says native APE chain was never discussed
Cardano's first eUTxO cross-chain DEX goes live on public testnet: details
Cardano to host two developer events ahead of Vasil hard fork
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, Terra Station, Terra Etherscan, 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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