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
Key Takeaways
- 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.
Highlights
- Solana DeFi platform votes to control whale account in bid to avoid liquidation ‘chaos’
- Litecoin’s (LTC) MWEB was going to aid a rally but is now getting delisted – what’s going on
- Ankr adds Ethereum’s L2 Optimism (OP) to its platform stack
- Bitcoin (BTC) mining equipment older than 2019 reaches shutdown price
- Ethereum (ETH) mining no longer profitable for many miners as energy prices and ETH dip cause perfect storm
- Algorand (ALGO) oracle network Goracle teams with blockchain development firm HEADLINE
- The latest release of Besu helps test The Merge on any platform
- Lightning Network now supported on Bitcoin e-commerce savings site Purse.io
- Bitcoin’s sinking price pushes hashrate below 200 exahash, mining difficulty expected to slide 2.8% lower
- Iran to cut electricity to authorised crypto miners
† 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
† 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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