Key Takeaways

• At the closing ceremony for the ETHDenver conference on Sunday, 30 hackathon finalists took aim at adoption barriers, with a range of submissions primarily focused on solving common pain points across the Ethereum (ETH) ecosystem.

• Twitter now allows users to give and receive Ethereum (ETH) tips natively. Users looking to receive ETH tips simply need to enable the platform's tipping features and add an Ethereum address to the dedicated section of their profile.

• The Crypto.org Coin has been officially rebranded to Cronos (CRO). The rebrand reflects the decentralisation of the coin and the growth of the Cronos ecosystem.

• Cronos (CRO) saw a +11.87% increase in total transactions to 17.25M and a decrease of TVL to $2.26B (-5.46% week-on-week). The total number of wallet addresses now stands at 388,387, up +10.70% from last week.

Highlights

• Bitcoin difficulty reaches all-time high, hash rate up 45% in 6 months

• Ethereum’s average transaction fees reach 5-month low

• Polygon (MATIC) and Filecoin (FIL) increase collaboration to integrate into metaverse and NFT spaces

• Cardano doubles bug bounty for hackers who find vulnerabilities

• Cardano sees significant growth in on-chain activity as new addresses spike 167%

• Avalanche growth sparks third-party cross-chain bridges

• Algorand is getting a bridge to Ethereum

• Cosmos ecosystem quietly surges to $17B in TVL in challenge to Ethereum layer 2s

• What is the Near Protocol, and how does it work?

• Algorand pushes for Ethereum compatibility with $20M incentive program

• The ultimate guide to Boba network

• Ethereum scaling solution SKALE launches $100M ecosystem fund

Thank you for reading! We hope you find our Weekly Layer 1 & Layer 2 News Update enlightening!

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