A summary of the crypto trends for the week.
Layer 2 Comparison Framework
As part of last weeks Layer 2 is coming soon™, Matter Labs provide a framework for comparing the categories of Layer 2 solutions. Nice to see the different levers being used, and what compromises there are for each category. (Note: Matter Labs are building zkSync).
Baseline Protocol explainer
LimeChain explain use of the Baseline Protocol.
I found this post really helpful to understand the process and see how and why Enterprise can use public blockchains. Having worked on B2B data exchange in a previous life, I see this as very exciting.
10K ETH Transaction Fees
There were two transactions with 10K ETH fees ~ USD$2 million from the one account. There have been multiple theories, from a bug in an automated script through to blackmail, though it is very unlikely to be laundering.
There was also an (apparently) unrelated transaction with a 2K ETH transaction fee.
Another week of network congestion with gas prices 20-30Gwei.
Looking at Eth Gas Station, Tether, potential ponzi scams and general trading appear to be the biggest source of network congestion.
From the archives:
Please contact the team when you are ready to request an audit!
- Technical Account Manager at OpenZeppelin
- OpenZeppelin Contracts v3.1 - first release candidate
- [Video] The Lurking Risks in Decentralised Finance - panel at CogX June 2020
Cost of sending money internationally
Sending money internationally in my experience is generally slow, expensive and painful. There is a huge opportunity for blockchain technology to solve this.
Hat tip to Evan Van Ness