#layer-2 News

ETH gas fees have been reduced almost 50% due to flash bots (1)

Ethereum On-chain Congestion Isn’t Severe, Bitstamp drops ETH Withdrawal Fees by 30%

July 14, 2021 by Dalmas Ngetich at Ethereum

The Ethereum network activity level has, in recent days, slumped, easing Gas. Consequently, Bitstamp, one of the largest cryptocurrency exchanges, is slashing ETH withdrawal fees by 30 percent, a statement on July 14 reads. Bitstamp Slashes ETH Withdrawal Fees by 30% In the better part of H1 2021, exchanges across...

Metis Gets Ready for Beta Testnet Release Ahead of September Mainnet

Metis Launches Network Testnet and Ecosystem Development Program

June 16, 2021 by Adeniyi Olowoporoku at Blockchain

Ethereum-based layer 2 protocol Metis DAO has launched its first network testnet, paving the way for new developments within its ecosystem. The blockchain platform also revealed its new ecosystem development program, designed to help companies build products by leveraging blockchain technology. Metis Launches Beta Network Testnet The Beta testnet launch...

Bitcoin, Ether, Major Altcoins – Weekly Market Update May 24, 2021

May 24, 2021 by Georgi Hristov at Price Analysis, Price pages

The total crypto market cap erased $521 billion of its value for the last seven days and now stands at $1,497 billion. The top 10 coins were all in red for the same time period with all of them posting double-digit losses. Polkadot (DOT) was the worst performer with a 54...

OKEx to support direct deposits and withdrawals onto Ethereum scaling solution Arbitrum

Ethereum Layer-2 Scaling Solution Arbitrum Inches Closer to Launch

May 13, 2021 by Ogwu Osaemezu Emmanuel at Ethereum

Offchain Labs has announced that its Ethereum Layer 2 scaling solution, Arbitrum now comes with a transaction sequencer. The team says the Arbitrum Sequencer testnet will go live on May 14, while the Arbitrum mainnet will be opened to developers on May 28, 2021. Arbitrum Solving Ethereum’s Scalability Issues As...

Ethereum Miners Earned $89 Million in Transaction Fees on May 10

May 11, 2021 by Dalmas Ngetich at Altcoins

On May 10, the Ethereum network generated roughly $89 million in transaction fees, the highest in its history. At this pace, the platform is on the course of printing $32.5 billion in fees, a gold mine for miners but a negative development for users who are increasingly shifting to layer...

OpenOcean Integrates Loopring ZK Rollups, Becomes the First Aggregator on Ethereum L2

May 5, 2021 by Dalmas Ngetich at DeFi

OpenOcean has become the first aggregator on Ethereum layer-2 after integrating Loopring—a ZK Rollup protocol that powers that native wallet and a DEX, an update on May 5 reveals. Lower Fees, Speedy Settlement Following this incorporation, OpenOcean users will now enjoy significantly lower transaction fees and ultra-fast settlement. Unlike previous...

DeFi Major Aave (AAVE) to Build on Polygon’s Scalable Layer 2 Platform

April 1, 2021 by Wayne Jones at DeFi

The decentralized lending platform built on the Ethereum blockchain, Aave says that it will scale its DeFi platform beyond its blockchain by joining several sidechains, including Polygon. Aave Addresses Transaction Fees Block space supply today is scarce and limited, leading to the massive expansion of assets on the Ethereum blockchain....

Polkamarkets Partners with Polygon for Scaling Solutions

Polkamarkets (POLK) Partners with Polygon (MATIC) to Address Gas Fees Problems

March 9, 2021 by Dalmas Ngetich at Altcoins

Polkamarkets, a platform planning to launch gamified predictions market on the interoperable Polkadot, has partnered with Polygon, as per a press release on Mar 9. Polkamarkets to Leverage Polygon's Ethereum Compatibility Polygon, formerly Matic, is Ethereum compatible. It offers a scaling option for protocols that want to operate in a...

OKEx Rolls Out Bitcoin Lightning Support for Scalable Payments

February 2, 2021 by Anthonia Isichei at Bitcoin

Crypto exchange giant OKEx is the latest to integrate Bitcoin (BTC) scaling solution — Lightning Network (LN) — on its platform. The move comes following a significant resurgence in LN interest especially as BTC is experiencing massive adoption across the globe. OKEx Announces Lightning Network Support OKEx announced the news...

Reddit Partners with Ethereum Foundation to Build Scaling Tools

January 28, 2021 by Wayne Jones at Ethereum

Reddit is expanding its role in the Ethereum ecosystem to develop blockchain tools. Reddit Increasing Commitment to Blockchain On Wednesday, the social media platform announced that it is expanding its collaboration with the Ethereum Foundation to provide resources for developing scaling tools. In a statement posted on r/ethereum, a Reddit...

Trade Code: How to Determine Ethereum Arbitrage Opportunity Using Command Line On Cloud

Ethereum Weathers Market Correction, ETH/USD Can Reach $10,500

January 21, 2021 by Dalmas Ngetich at Ethereum

A Fundstrat Global Advisors LLC strategist, David Grider, predicts the Ethereum price to reach $10,500. This is a day after the second most valuable digital asset rose to all-time highs above $1.4k, Bloomberg reported on Jan 20. Ethereum Stands out In a note to clients on Wednesday, David said Ethereum...

Loopring DEX Debuts Gas Free L2-to-L1 Transactions

January 15, 2021 by Anthonia Isichei at News

Loopring, a decentralized exchange (DEX) platform has unveiled gasless transfers from Layer 2 (L2) to the Layer 1 (L1) environment. With Ether (ETH) fees prone to spiking during periods of peak activity, a lot of attention is moving towards L-2 adoption and allocating resources to sidechain protocols. Gas-free L2-to-L1 Transfers...

Synthetix (SNX) to Activate Layer-2 Staking

January 13, 2021 by Dalmas Ngetich at DeFi

In less than 24 hours, Synthetix, a DeFi protocol that allows trustless trading of derivatives called synths, will activate Castor and Layer-2 staking after trialing on the Goerli testnet since September 2020, a press release on Jan 13 reads. Castor Follows Shaula For Layer-2 Staking The activation is less than...

Average ETH Gas Fee Reached new ATH Amid Trading Surge

January 5, 2021 by Anthonia Isichei at Ethereum

With the price of ETH crossing the $1,000 mark for the first time since 2018, the average gas fee on the Ethereum network set a new all-time high (ATH) on Jan. 4. Ethereum Gas Fees Almost Touched $20 According to data from YCharts on Monday (Jan. 4, 2021), the average...

Ethereum Set to Shatter 2018 Cumulative Annual Gas Fee Record

July 21, 2020 by Osato Avan-Nomayo at Ethereum

Despite 2020 being only halfway done, the Ethereum blockchain is set to achieve a new annual gas payment record. USDT and DeFi Push Ethereum Gas Fees to New Heights According to Wilson Withiam — a researcher at crypto analytics platform Messari — the total gas payment recorded on the Ethereum...

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