Weekly Update - Layer 1 & Layer 2 News (Week 20, 17/05/2022 – 23/05/2022)
Ethereum’s Ropsten will test the Merge. Cardano’s hard fork will reduce transaction size. Filecoin Foundation plans plans to host nodes in space.
Key Takeaways
Ethereum’s (ETH) Ropsten testnet will attempt to simulate the Merge by combining proof of work with a proof of stake consensus layer. Meanwhile, $8.1B in ETH has been burned since the implementation of EIP 1559 in Aug 2021.
Cardano (ADA) plans to improve scalability by reducing the transaction size of smart contracts in the upcoming Vasil hard fork.
The Filecoin Foundation and Lockheed Martin (an American aerospace corporation) announced plans to host blockchain nodes in space.
Cronos (CRO) reached 42.39M total transactions, an increase of +3.44% from last week.
Highlights
Cloudflare to run Ethereum node experiment to help ‘build a better internet’
Computer scientists unveil rapid energy-efficient Bitcoin mining algorithms
Hyperledger Foundation deploy new versions of three blockchain tools to enhance ecosystem
ZCash (ZEC) could soon transition to proof of stake as a means of driving sustainable growth
Do Kwon says Terra collecting snapshot data for LUNA airdrop
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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