Weekly Update - Layer 1 & Layer 2 News (Week 23, 07/06/2022 – 13/06/2022)
Hacker returns stolen Optimism tokens. Solana disables buggy feature. Jack Dorsey announces Web5.
Key Takeaways
Optimism (OP) hacker partially returned 20 million OP stolen during a botched transfer, with 1 million OP sent to Vitalik Buterin.
Jack Dorsey announced plans to bypass Web3 and build a decentralised web using a Bitcoin-based (BTC) identity management system called Web5.
Solana (SOL) released a postmortem report and disabled the durable nonce transaction feature, which caused a 4.5-hour outage on 1 June.
Cronos (CRO) reached 46.31 million total transactions, increasing +2.70% from last week.
Highlights
Bitcoin’s hashrate hits an all-time high, nearing 300 exahash per second
Terra’s Anchor protocol users vote to halt ‘earning and borrowing’
Hut 8 Mining opens third facility, hits 7,000 Bitcoin (BTC) in reserves
Crypto miner Hive Blockchain selling Ether (ETH) to pay for Intel mining rigs
Storage blockchain Crust Network to launch External Adapter on Chainlink (LINK)
Cube Chain launches high-performance modular mainnet to meet market demand for Web3
FatManTerra launches non-profit LUNA validator for UST compensation
Bitcoin Lightning Network capacity charges through 4,000 BTC
Chinese chip designer reportedly filed for US$50M Nasdaq IPO
Jack Dorsey and Jay-Z announce the Bitcoin Academy in Brooklyn, New York
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
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!