Weekly Update - Layer 1 & Layer 2 News (Week 7, 15/02/2022 – 21/02/2022)
ETHDenver ends with 30 hackathon finalists addressing ETH adoption barriers. CRO rebrands from Crypto.org Coin to Cronos.
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
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%
Cosmos ecosystem quietly surges to $17B in TVL in challenge to Ethereum layer 2s
Algorand pushes for Ethereum compatibility with $20M incentive program
Ethereum scaling solution SKALE launches $100M ecosystem fund
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