Optimism (OP) hits new ATH despite 70% transaction volume decline

Layer 2 (L2) network Optimism (OP) transaction volume has declined by over 70% to 200,000 from an all-time high (ATH) of 800,000, according to Etherscan data. Meanwhile, despite the steep decline in its transaction volume, Optimism’s OP printed a $2.49 ATH on Jan. 25, according to CryptoSlate data. Optimism’s transaction volume falls Binance research pointed out … Read more

Ethereum mainnet hits record-breaking 32B weekly gas expenditure

Ethereum (ETH) Layer 2 (L2) networks spent a record-breaking 32 billion gas — a year-on-year increase of 22.8% — to validate transactions and activate bridges between Jan. 9 and Jan. 15, according to Dune Analytics data. Source: Dune Analytics Optimism (OP) contributed around 50% of the gas spent — with a seven-day moving average of … Read more

Arbitrium’s Offchain Labs acquires leading Ethereum client

Arbitrum’s parent company Offchain Labs has announced its acquisition of Prysmatic Labs, a core Ethereum development team. Prysmatic Labs is the engineering team behind Prysm, Ethereum’s leading consensus layer client. Prysm is an Ethereum proof-of-stake client that pioneered the Ethereum merge. Offchain Labs said the move to onboard Prysmatic Labs finds root in their shared … Read more

White hat hacker grumbles over Arbitrum bounty reward after saving network from $475M loss

Riptide, a white hat hacker that discovered a vulnerability on Arbitrum, tweeted that his find was eligible for the max bounty reward of $2 million instead of the 400 ETH ($53,000) reward he got. No big deal just bridging a cool $470mm through the same Inbox contract 👀 Definitely should be eligible for a max … Read more

Vitalik Buterns reveals Layer-3s to have “bigger role” as Layer-2 scaling ecosystem matures

Blockchains are usually referred to as either a Layer-1 or Layer-2 solution. Layer-1s are the base layer of an ecosystem such as Ethereum, Cardano, or Solana. Layer-2 solutions are anchored to Layer-1 blockchains and provide scalability. Layer-3s can also exist; however, you cannot stack another layer on top of Layer 2 to add even more … Read more

Messari report alleges Optimism growth is inorganic

Blockchain analytics firm Messari released a report alleging that the growth of Ethereum Layer2 network Optimism (OP) is inorganic, There is evidence that @OptimismFND‘s growth is inorganic. Optimism’s transacting addresses grew sharply from ecosystem incentives but fell off in recent weeks. @Arbitrum has managed consistent active user metrics without offering any incentives for network usage. … Read more

Will Ethereum Layer-2 chains survive after The Merge?

👋 Want to work with us? CryptoSlate is hiring for a handful of positions! Ethereum is finally moving to proof-of-stake this year, and with that, the aim is to: “Ultimately address some of the gas fee issues.” One of the primary methods to reduce gas fees are layer-2 solutions. Chains such as Polygon process over … Read more

Behind zkLend, a dual solution money market protocol for institutions and retail

zkLend is an L2 money-market protocol built on StarkNet, combining the best of zk-rollups and Ethereum to bring more users to the DeFi market.  To differentiate itself from the growing competition on the market, zkLend offers an innovative, dual solution to the problems faced in DeFi—a permissioned and compliance-focused solution for institutional clients and a … Read more

Ethereum L2 solution Optimism to launch new governance model, token via airdrop

After weeks of speculations, leading Ethereum Layer-2 solution Optimism has announced that it will be launching and airdropping a governance token — OP — designed to give its users more power and control over its ecosystem. Optimism’s unique bicameral governance model The governance system is a unique bicameral model in which two different entities will work … Read more