Layer2 Financial News

24.11 / 22:41

Ethereum defi Hackers hacks Cybersecurity layer2 Staking Blast network hits $400M TVL, rebuts claim that it's too centralized

Web3 protocol Blast network has gained over $400 million in total value locked (TVL) in the four days since it was launched, according to data from blockchain analytics platform DeBank. But in a Nov. 23 social media thread, Polygon Labs developer relations engineer Jarrod Watts claimed that the new network poses significant security risks due to centralization.

29.11 / 12:55

Blockchain Ethereum defi security Decentralization layer2 Layer-2 network to launch a decentralized sequencer pool

In their quest for scalability and cost-effectiveness, many layer-2 networks adopt a centralized approach to on-chain transaction processing, introducing a single point of failure vulnerability. The Metis blockchain, however, has pioneered a distributed sequencer pool to improve security and decentralization.

28.11 / 14:53

Blockchain defi Trading Decentralization layer2 Five pain points that decentralized trading platforms need to solve

Decentralized crypto trading with leverage has grown in popularity over recent years — but something is holding the sector back: a lack of reliable platforms for noncustodial transactions.

26.11 / 22:15

business Blockchain Venture Capital layer2 Blast’s marketing approach “cheapens the work of a serious team” — Paradigm

Crypto venture capital firm Paradigm criticized Blast’s protocol marketing strategy, claiming the startup “crossed lines in both messaging and execution." The VC firm is a seed investor in Blast.

17.11 / 02:21

Blockchain Ethereum layer2 Polygon gas fees spike 1000% amid Ordinals-inspired token craze

Gas fees on Ethereum layer-2 Polygon (MATIC) surged more than 1,000% to reach a peak of $0.10 as users inundated the network with the minting of Ordinals-inspired tokens dubbed POLS.

15.11 / 19:15

Blockchain Ethereum defi Cybersecurity layer2 Layer 2 networks hit $13B TVL, but challenges still remain

Ethereum layer-2 networks reached a new milestone on Nov. 10, reaching $13 billion of total value locked (TVL) within their contracts, according to data from blockchain analytics platform L2Beat. According to industry experts, this trend of greater interest in layer 2s is likely to continue, although some challenges remain, especially in the realms of user experience and security.

15.11 / 07:05

Blockchain Ethereum Adoption Polygon layer2 zk-Rollup Ethereum’s rollups are ‘gold standard’ but Plasma needs a revisit — Buterin

Plasma, a once-prominent Ethereum layer-2 scaling solution, should be revisited by teams currently working on zero-knowledge (ZK) Ethereum Virtual Machines (EVMs), said Ethereum co-founder Vitalik Buterin.

14.11 / 18:05

Blockchain Ethereum Polygon layer2 OKX zk OKX launches Ethereum layer-2 testnet using ZK-based Polygon CDK

Crypto exchange OKX has launched a testnet for an upcoming Ethereum layer-2 network named “X1,” according to a Nov. 14 announcement. The network is being developed using the Polygon chain development kit (CDK) and will use zero-knowledge proofs to validate deposits and withdrawals between layers.

10.11 / 04:51

Ethereum Adoption defi fees transactions layer2 Bitcoin Ethereum, Bitcoin users reignite scalability debate as gas fees surge

A recent spike in transaction fees on Ethereum and Bitcoin appears to have reignited the debate around solutions for scalability and the role of layer 2s.

09.11 / 18:57

Ethereum Adoption layer2 Podcast Hashing It Out Are high fees killing some types of DApps? Cartesi explains on Hashing It Out

As the race between Ethereum layer-2 networks heats up, users are left with questions about each network’s unique nature, use cases and plan for attracting more users to Web3. In Episode 36 of Hashing It Out, Elisha Owusu Akyaw (GhCryptoGuy) discusses app-specific rollup protocols with Cartesi co-founders Colin Steil and Erick de Moura.

08.11 / 20:37

Ethereum defi Polygon layer2 zk Polygon Labs and Near announce ZK prover for WASM integration

The developers of the Near and Polygon networks are teaming up to create a zero-knowledge (ZK) prover for Web Assembly (WASM) blockchains, according to a joint announcement on Nov. 8. The new prover, called “zkWASM,” will for the first time allow WASM-based networks to join the Polygon ecosystem.

07.11 / 08:29

Blockchain Kraken exchanges layer2 Kraken looking to 'solve' industry challenges amid layer-2 rumors

Crypto exchange Kraken neither confirmed nor denied rumors of the company’s plans to potentially release a layer-2 solution similar to what its competitor Coinbase did with Base network earlier this year.

06.11 / 17:17

Blockchain Altcoin solana fees Scalability layer2 Will the next crypto bull run be dominated by L1s, L2s or something else?

The long-awaited “crypto spring” may be upon us as Bitcoin (BTC) and other cryptocurrency markets rise in anticipation of a full-on bull market.

25.10 / 18:43

Ethereum defi Polygon layer2 Polygon launches POL token contract on Ethereum to eventually replace MATIC

Polygon Labs has launched the Ethereum contract for the new Polygon token, POL, according to an October 25 announcement. The new token is intended to replace the ecosystem’s current token, MATIC. However, the team said users presently don't need to exchange their MATIC for POL.

18.10 / 02:17

Ethereum Adoption defi transactions Smart Contracts layer2 zk-Rollup zkEVM Ethereum layer 2 zkEVM ‘Scroll’ confirms mainnet launch

Scroll, a new contender in the zero-knowledge Ethereum Virtual Machine (zkEVM) space that works to scale the blockchain, has confirmed the launch of its mainnet.

17.10 / 16:20

business Blockchain Ethereum Funding layer2 Immutable delays $67M token vesting by another year

Developers of Ethereum layer-2 nonfungible tokens (NFT) scaling solution Immutable (IMX) will delay the vesting of 125 million IMX in token rewards, worth $67 million at the time of publication, to July 2024.

16.10 / 18:43

Blockchain Ethereum Polygon layer2 zk-Rollup BaSe manta zk ZK-focused Manta Pacific opts out of OP Stack for Polygon CDK

Manta, a blockchain network focusing on zero-knowledge (ZK) applications, will migrate its software from OP Stack to Polygon CDK, according to an October 16 announcement. This means that Manta will not be integrated into the upcoming Optimism Superchain and will instead become part of the Polygon ecosystem.

10.10 / 18:11

markets Altcoin Polygon layer2 Dapps Arbitrum end Polygon (MATIC) rally comes to an end as competitors devour market share

Polygon’s native token (MATIC) experienced a 16.4% rally that coincided with the launch of Polygon 2.0 Goreli testnet on Oct. 4. However, the resistance at $0.60 proved stronger than anticipated, and was followed with a 10.6% decline over the six days leading into Oct. 10.

03.10 / 16:11

Blockchain Ethereum defi Scalability layer2 BaSe network Optimism network launches testnet fault-proof system in pursuit of decentralization

OP Labs, the developer of the Optimism network, launched a testnet version of its fault-proof system, according to an Oct. 3 blog post. Once it completes testing, it will allow for “a more decentralized and efficient Superchain,” the post stated. The new system is currently deployed to the Optimism Goerli network.

25.09 / 21:39

Ethereum layer2 MetaMask MetaMask ‘glitch’ caused opBNB recommended fees to be too high: Report

A "glitch" in MetaMask that caused it to overestimate opBNB gas fees has now been fixed, according to a social media post from BNB Chain. Many users pay the default recommended fee displayed in their wallets, so a misestimation can cause users to overpay.

23.09 / 02:31

Blockchain defi solana coinbase layer2 BaSe surges Base surges past Solana as total value locked nears $400M

The total value locked (TVL) on Coinbase’s layer 2 network Base has surged to $397.32 million in roughly a month and a half since launching in August. That figure now places Base ahead of the Solana network in terms of TVL, which has $358.96 million at the time of writing.

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