Weekly Update - Layer 1 & Layer 2 News (Week 49, 08/12/2021 - 14/12/2021)
Market caps: ETH $451B, SOL $48B, CRONOS $14B. Chainalysis to add Lightning Network monitoring, giving service providers access to transaction data that could be used for KYC.
Key Takeaways
Chainalysis announced support for the Lightning Network, allowing service providers to make use of the data for KYC purposes. While the move may be welcomed by regulators, it has provoked significant backlash from many in the Bitcoin community (ref).
Polygon acquired Mir, a startup focusing on zero-knowledge proofs. This appears to be part of a broader strategy by Polygon to move into the ZK scaling space (ref, ref).
Solana (SOL) suffered recent slowdowns from an apparent DDoS attack, which seems to have originated from the Raydium IDO. The platform stayed online throughout, and on-chain development has since increased (ref, ref).
Optimism announced plans to remove the developer whitelist system, meaning that software deployment on the platform will now be open to all developers (ref).
Cronos (CRO) saw a +24.36% increase in total transactions to 5.09M and stabilization of TVL at $1.29B (-2.27%week-on-week). The total number of wallet addresses now stands at 221,738, up +19.37% from last week.
Highlights
Chainalysis to offer Lightning Network monitoring service to VASPs in 2022
Solana on-chain development increases after a recent DDoS attack
Polygon announces nearly $500,000,000 deal in effort To lead Ethereum-scaling solution race
Cardano successfully launches testnet that will bring Ethereum tokens to its ecosystem
Bitcoin core developer Samuel Dobson decides it is ‘time to go’
How Taproot brings major benefits to Bitcoin hardware wallets
Eterlast NFT project partners Immutable X Layer 2 platform: details
Cardano: Active $ADA addresses quadrupled in November, report reveals
Sources: Coingecko, Etherscan, Ethernodes, Terra Station, Terra Etherscan, Avascan, Solana Beach, FTMscan, BSCscan, Cronos Explorer, DeFi Llama
Sources: DeFi Llama, Polyscan, Clark Moody Bitcoin, 1ML, Ronin Explorer, Coingecko, Optimistic Etherscan, Arbiscan, Boba Explorer
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