Weekly Layers 1 & 2 Update (Week 22, 31/05/2022 – 06/06/2022)

Key Takeaways The Solana (SOL) network was halted for four hours due to a bug related to durable nonce transactions. Despite this recent stoppage, Alchemy announced support for Web3 application development for Solana-based apps. Ethereum (ETH) adoption and accumulation grows ahead of the Merge, with 1.4M addresses holding at least 1 ETH. Optimism (OP) experienced […]

Key Takeaways

• The Solana (SOL) network was halted for four hours due to a bug related to durable nonce transactions. Despite this recent stoppage, Alchemy announced support for Web3 application development for Solana-based apps.
• Ethereum (ETH) adoption and accumulation grows ahead of the Merge, with 1.4M addresses holding at least 1 ETH.
• Optimism (OP) experienced a turbulent airdrop but earned Vitalik’s support for its new governance structure.
• Cronos (CRO) reached 45.09M total transactions, increasing +2.40% from last week.

Highlights

• Terra confirms that some users received less LUNA than expected from the airdrop and is working on a solution
• Balancer launches on Ethereum Layer 2 network Optimism (OP)
• The Graph (GRT) poised to expand to Arbitrum in Layer 2 win
• Middle East oil producers move into Bitcoin mining with Crusoe Energy stakes
• Kenya’s largest power provider to offer geothermal energy to Bitcoin miners
• Ooki 2.0 is live on Ethereum with the latest features previously enabled on Layer 2 deployments
• Bifrost wins 18th Polkadot (DOT) ‘parachain’ slot to bring cross-chain liquid staking to PoS chains
• Cardano (ADA) users to explore Djed stablecoin trial on EVM sidechain: Details
• Zcash nixes trusted setup, enters new era with major network update
• LUNA 2.0 stakers to decide on future of Luna Classic (LUNC) and re-enable IBC

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