Layers 1 & 2 (Week 26, 28/06/2022 – 04/07/2022)

Ethereum delays difficulty bomb, and Sepolia testnet prepares for the Merge. Compass Mining denies unpaid bills comments amidst CEO&CFO resignations. Cardano successfully launches Vasil on its testnet.

Key Takeaways

• Ethereum (ETH) developers delayed the difficulty bomb to mid-September, while the Sepolia testnet is ready for the Merge trial.
• Compass Mining denied comments about unpaid electricity bills, while the CEO and CFO resigned, citing ‘setbacks and disappointments’.
• Cardano (ADA) successfully launched the Vasil upgrade on its testnet.
• Cronos (CRO) reached US$1.37 billion total value locked, increasing +18.62% from last week.

Highlights

• Polygon deploys custom blockchain scaling system ‘Avail’
• Bitcoin Lightning Network developer updates node software with Taproot support
• North Korean attackers behind US$100M Harmony hack: Report
• Optimism’s TVL doubles as trading activity surges on Layer 2s
• Battle-hardened Ronin bridge to Axie reopens following $600M hack
• Bitcoin miners unmoved by BTC price crash as mining power remains stable
• Spacechains: How this new Bitcoin sidechain proposal works
• Marathon Digital says Montana storm knocked out most Bitcoin rigs
• DappRadar and LayerZero launch chain-agnostic staking token
• Ethereum gas fees hit 20-month low amid market downturn
• Cardano becomes most actively developed project in crypto industry

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Author

Research and Insights Team