Crypto Trends 15 June 2020

Crypto Trends

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.……

The first transaction was mined by Spark Pool, the second by Ethermine, both of whom are offering assistance.

There was also an (apparently) unrelated transaction with a 2K ETH transaction fee.…

Network Congestion

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.

For detailed news see: Week in Ethereum News, EthHub and What’s New in Eth2


From the archives:

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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