Weekly Layers 1 & 2 Update (Week 18, 03/05/2022 – 09/05/2022)

Bitcoin’s hashrate climbs, reaches halfway point towards next halving. Ethereum developer Tim Beiko highlights requirements for seamless Merge. Cronos ‘Huygens’ mainnet upgrade launches successfully.

Key Takeaways

• Despite macro headwinds and a recent price decline, Bitcoin’s (BTC) hashrate continued climbing higher as the 105,000th block was mined — marking 50% of the journey into its next halving.
• In the Ethereum (ETH) AllCoreDevs Update 011, Tim Beiko highlighted the technical requirements needed for the Merge to happen in a seamless manner — continued Mainnet shadowforks without returning any errors.
• The Cronos mainnet upgrade  v0.7.0 ‘Huygens’ was successful. The upgrade introduces variable transaction fees depending on network utilisation and the performance of the node storage.
• Cronos (CRO) saw a +5.44% increase in total transactions to 39.29M. The total number of wallet addresses now stands at 761,368, up +3.93% from last week.

Highlights

• El Salvador announces new purchase of 500 BTC
• Meta’s Instagram to support NFTs from Ethereum, Polygon, Solana, Flow
• Polkadex wins Polkadot’s parachain slot
• Polkadot upgrade locks in parachain messaging major step forward for multi-chain interoperability
• NEAR’s April Town Hall Highlights
• Apecoin integrates with Polygon, DAO Board member says native APE chain was never discussed
• Cardano’s first eUTxO cross-chain DEX goes live on public testnet: details
• Cardano to host two developer events ahead of Vasil hard fork
• Chainlink set to power Latin American real estate platform

Layer 1 Project Metrics

Layer 2 Project Metrics