Layer 2 address activity slows, but Arbitrum bucks the trend
On-chain activity for the leading Layer 2 networks has been declining recently, however, the Arbitrum platform is bucking the trend according to recent findings. Blockchain analytics firm Nansen has reported that seven-day activity in terms of addresses for many of the leading networks has been in decline. Only the Ethereum L2 scaling network Arbitrum has […]
Matter Labs raises $50M to build EVM-compatible zk-rollups
Matter Labs has announced a major new funding round to further develop the second version of its Ethereum-based rollups, zkSync. On Nov. 9, Matter Labs announced it had secured $50 million in a Series B round led by Andreessen Horowitz and included participation from existing investors Placeholder and Dragonfly Capital. The new round follows Matter Labs’ […]
Polygon briefly overtakes Ethereum for active addresses after 330% surge
Layer two protocols have seen monumental growth this year and one of them has briefly surpassed the network it is a scaling solution for, in terms of active addresses. The number of daily active unique addresses on layer two aggregator Polygon has surpassed those on the high fee layer one Ethereum according to protocol co-founder […]
Arbitrum’s TVL surges to $1.5B as DeFi degens ape into ArbiNYAN
Ethereum layer-two rollup network Arbitrum One is beginning to see significant growth, with its total value locked (TVL) surging by roughly 2,300% this past week. According to L2beat, an analysis platform comparing layer-two protocols, Arbitrum’s TVL tagged an all-time high of $1.5 billion on Sept. 11 as DeFi degens rushed to invest in early farming […]
Ethereum layer-twos reportedly processing more transactions than BTC
Layer-two scaling protocols for Ethereum have surged in adoption in recent months as gas prices climb again, and the L2 ecosystem is now processing more daily transactions than the Bitcoin network according to recent findings. According to CoinMetrics data collated by industry analyst and Week In Ethereum News founder Evan Van Ness, there were more […]
Chainlink launches data oracles on Arbitrum One's Ethereum scaling solution
Leading data oracle provider Chainlink has announced its successful launch on Arbitrum One — the beta mainnet deployment of layer-two Ethereum scaling solution, Arbitrum. Announced August 12, the launch will allow developers building on Arbitrum One to access financial market data directly on-chain, providing enhanced functionality to decentralized exchanges, algorithmic stablecoins and other advanced DeFi […]
SushiSwap CTO reveals why the project isn't scaling on Optimism anytime soon
The chief technology officer of the SushiSwap decentralized exchange has revealed why the protocol is no longer keen to scale using layer two solutions from Optimistic Ethereum. The layer two solutions provider OΞ whitelisted several projects last year including Uniswap and Synthetix, granting them preferential access to its platform as it was being built. SushiSwap […]