Weekly Layers 1 & 2 Update (Week 11, 15/03/2022 – 21/03/2022)

ETH merges on Kiln testnet ahead of its change to proof-of-stake; Vitalik makes sharding-related proposal EIP-4844. Aptos blockchain from ex-Diem members raises $200M. Layer 2 solution Optimism raises $150M at $1.65B valuation.

Mar 22, 2022
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Key Takeaways

  • Ethereum (ETH) merged on Kiln, its public testnet, ahead of its eventual change to a proof-of-stake (PoS) network. Meanwhile, Ethereum founder Vitalik Buterin introduced EIP-4844, which proposes an upgrade known as Proto-Danksharding. This introduces a new “blob-carrying” transaction type and lays the initial technical groundwork for ETH’s transition to sharding. 
  • Former members of Meta’s defunct stablecoin project Diem raised USD 200M to build a new layer 1 blockchain called Aptos. The team launched their public Devnet, welcomed developers, and made their codebase open source. 
  • Layer 2 solution Optimism raised $150M in Series B funding at a $1.65B valuation from Paradigm and Andreessen Horowitz. 
  • Cronos (CRO) saw a +7.52% increase in total transaction to 23.17M, while its TVL grew to $3.27B (+20.75% week-on-week). The total number of wallet addresses now stands at 460,891, up +4.15% from last week.


Week 11 Layer 1 Project Metrics
Sources: Coingecko, Etherscan, Ethernodes, Terra Station, Terra Etherscan, Avascan, Solana Beach, FTMscan, BSCscan, CronoScan, Cronos Explorer, DeFi Llama
Week 11 Layer 2 Project Metrics
Sources:  DeFi Llama, Polygonscan, Clark Moody Bitcoin, 1ML, Ronin Explorer, Coingecko, Optimistic Etherscan, Arbiscan, Boba Explorer, Andromeda Metis Explorer

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