Arbitrum announced the launch of the Arbitrum Odyssey reward system while holding 51% of the total market share in terms of TVL for Layer 2 solutions at press time.
Ethereum (ETH) launched a testnet Beacon chain which utilises Proof Of Stake consensus instead of Proof Of Work.
VeChain (VET) successfully tested its new consensus update named Proof Of Authority 2.0, which makes transactions virtually impossible to revert.
Cronos (CRO) reached 47.40 million total transactions, increasing +2.30% from last week.

* % 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

* 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

Layers 1 & 2 (Week 24, 14/06/2022 – 20/06/2022)

Arbitrum launches a reward system called Arbitrum Odyssey, Ethereum launches a testnet Beacon chain, VeChain tests Proof of Authority 2.0

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