Tag
#layer2
103 stories
Major Cryptocurrencies Decline Amid Tech Stock Selloff
Ether, XRP, and dogecoin have experienced notable declines, leading a broader cryptocurrency selloff as technology stocks falter. Analysts indicate that the selling pressure is partly due to large holders offloading assets in a market with diminishing risk appetite, according to CoinDesk.
3 days ago·CoinDesk·Reported by Shaurya Malwa
Base Network Recovers from Block Production Issue Ahead of Upgrade
Base, an Ethereum layer-2 network supported by Coinbase, resolved a block production issue that caused an outage lasting over two hours, as reported by Decrypt. The outage coincided with a planned upgrade, and the network has since resumed operations.
3 days ago·Decrypt·Reported by Logan Hitchcock
Base Blockchain Recovery After Two-Hour Outage
Coinbase's Base blockchain has resumed operations following a two-hour outage that paused block production and transaction processing, according to CoinDesk. An invalid block was identified as the trigger, and the team continues to investigate the root cause while advising node operators to restart their systems.
3 days ago·CoinDesk·Reported by Margaux Nijkerk
Taiko Urges Immediate Withdrawal of Bridge Funds After Security Breach
Taiko has alerted users to withdraw funds from all bridges on its Ethereum layer-2 network following a security breach that compromised its chain state verification mechanism. BlockSec Phalcon estimates losses of over $1.7 million due to the incident, which potentially involved an exposed signing key, according to Decrypt.
7 days ago·Decrypt·Reported by Jason Nelson
Taiko Halts Ethereum Layer 2 Network After $1.7M Bridge Exploit
Taiko temporarily suspends its Ethereum Layer 2 network following a bridge exploit that resulted in the theft of approximately $1.7 million, according to CoinDesk. The attacker forged withdrawal proofs, leading to unauthorized transactions, prompting the team to halt block production and advise users to withdraw funds immediately.
7 days ago·CoinDesk·Reported by Shaurya Malwa
Botanix Shuts Down, Exposing Challenges for Bitcoin Layer-2 Projects
Botanix announces its shutdown after finding that programmable Bitcoin does not meet market demand, raising questions about its utility. This report from CoinDesk highlights the ongoing struggles of Bitcoin layer-2 projects as they contend with shifting investor priorities amid a bear market.
2 weeks ago·CoinDesk·Reported by Jamie Crawley
LG Electronics Launches Blockchain-based Advertising Platform with Arbitrum
LG Electronics has developed a blockchain-based advertising platform, leveraging technology from Arbitrum, according to CoinDesk. The new layer-2 network aims to improve ad sales efficiency by automating the process and offering a shared database for advertisers and publishers.
2 weeks ago·CoinDesk·Reported by Omkar Godbole
Ethereum Developers Propose pERC-20 Token Standard to Enhance Privacy
Ethereum developers introduce the pERC-20 token standard, allowing more private transactions. This proposal re-ignites discussions on blockchain privacy, according to CoinDesk. It aims to combine privacy with compliance, amidst a growing focus on privacy technologies in the Ethereum ecosystem.
3 weeks ago·CoinDesk·Reported by Margaux Nijkerk
Botanix Plans Shutdown of Bitcoin Layer-2 Network Due to Low Demand
Botanix announced its intention to discontinue its Bitcoin layer-2 network, urging users to withdraw funds before July 9. The decision results from inadequate market adoption and insufficient transaction fees, according to Decrypt.
3 weeks ago·Decrypt·Reported by André Beganski
Bitcoin Layer-2 Project Botanix Shuts Down After Year of Indifference
Botanix, a Bitcoin layer-2 network, has shut down one year after its mainnet launch, citing market conditions and user indifference. The closure raises questions about the overall viability of Bitcoin development, as the project struggled to gain traction despite raising $14.4 million in funding, according to CoinDesk.
3 weeks ago·CoinDesk·Reported by Jamie Crawley
Ethereum Layer-2 Landscape Faces Consolidation Amid User Demand Challenges
CoinDesk reports that the Ethereum layer-2 ecosystem is experiencing turbulence, as many general-purpose chains struggle to attract users and maintain liquidity. Insights from industry experts suggest a consolidation phase may be underway, prompting a shift towards application-specific solutions rather than competing general-purpose platforms.
4 weeks ago·CoinDesk·Reported by Margaux Nijkerk
Movement Shifts to Stablecoin Payments Targeting $685B Remittance Market
Movement announces a strategic pivot from its original layer-2 blockchain focus to stablecoin-powered payment systems aimed at the remittance market, as reported by CoinDesk. The project will leverage licensed payment partners to target low and middle-income countries, following a trend among layer-2 networks seeking practical use cases in response to growing competition.
4 weeks ago·CoinDesk·Reported by Margaux Nijkerk
Aave Revises Listing Standards Following $230 Million rsETH Exploit
Aave has announced a significant overhaul of its asset-listing standards after a $230 million exploit involving rsETH, as reported by CoinDesk. The protocol attributes the exploit to a failure in a LayerZero bridge, prompting a comprehensive reevaluation of its risk framework to account for new types of vulnerabilities in decentralized finance.
4 weeks ago·CoinDesk·Reported by Sam Reynolds
Sui Network Faces Second Day of Downtime as Token Drops 20%
Sui Network experiences downtime for the second straight day, with its token, SUI, declining 20% this week, according to Decrypt. The outages have raised questions about the network's stability, especially following multiple incidents this year.
last month·Decrypt·Reported by Logan Hitchcock
Sui Mainnet Experiences Temporary Stall Amid Network Activity Pause
Sui mainnet faces a stall, leading to a temporary halt in network activities on the Layer-1 blockchain. The Sui team is investigating the cause of the issue and will provide a full update once they assess the incident, according to Crypto Adventure.
last month·Crypto Adventure·Reported by Iulian Lesanu
Base Launches Azul Upgrade on Mainnet to Enhance Decentralization
Base has officially launched its Azul upgrade on the mainnet, promoting increased decentralization through new features like multiproofs. This development marks a significant step toward achieving full decentralization for Coinbase's Ethereum Layer 2 solution, according to The Block.
last month·The Block·Reported by Naga Avan-Nomayo
Ethereum Foundation Faces Culture War Amid Criticism and Departures
The Ethereum Foundation is under scrutiny once again due to recent staff departures and criticism regarding its relevance in the evolving crypto landscape, according to CoinDesk. Critics argue the foundation has become increasingly disconnected and bureaucratic while Ethereum matures as a critical infrastructure in the industry.
last month·CoinDesk·Reported by Margaux Nijkerk
Sui Mainnet Stall Disrupts Transactions for Nearly Two Hours
Sui faced significant downtime after a mainnet stall halted block production for nearly two hours, as reported by Crypto Adventure. This disruption raised concerns about the reliability of the Layer-1 network, impacting transaction processing before block production resumed later in the afternoon.
last month·Crypto Adventure·Reported by Radu B