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“# Arbitrage bot’s spam attack on the Polygon network generated $6,800 per day ” The growth of layer-two protocols has been one of the major stories of 2021 as the rising popularity of decentralized finance (DeFi) and nonfungible tokens (NFT) have driven transaction costs higher on the Ethereum (ETH) network effectively pricing out many participants. …
“# Want to improve blockchain infrastructure? Work under layer-two solutions ” There has been a lot of talk about how blockchain unlocks endless enterprise opportunities. And although all this buzz has not entirely translated to tangible results, the explosion of the decentralized finance and nonfungible token (NFT) markets has laid down markers on what is…
“# OMG eyes a new all-time high after unveiling its ‘Boba Network’ layer-2 solution ” In September the frenzy that propelled the nonfungible token (NFT) sector quieted down but a burst of fresh energy emerged as the layer-two sector heated after the successful launch of Ethereum (ETH) scaling solutions like Arbitrum and Optimism. Another project…
“# Finance Redefined: dYdX milestone and $1M DeFi bounty, Sept. 24–Oct. 1 ” Welcome to the latest edition of Cointelegraph’s decentralized finance (DeFi) newsletter. DYdX surpassed Coinbase in daily trading volume for the first time this week. Read on to discover why this was a seminal moment for the project’s founder. What you’re about to…
“# Polygon briefly overtakes Ethereum for active addresses after 330% surge ” Layer two protocols have seen monumental growth this year and one of them has briefly surpassed the network it is a scaling solution for, in terms of active addresses. The number of daily active unique addresses on layer two aggregator Polygon has surpassed…
“# Celer (CELR) gains 400% after traders embrace its multi-chain ‘cBridge 2.0’ solution ” High transaction costs have been a thorn in the side of investors and developers for more than a decade and the issue became worse in 2021 after the emergence of decentralized finance (DeFi) and nonfungible tokens (NFT) led to record-high levels…
“# Ethereum will replace Bitcoin as the leading crypto network, claims Polygon co-founder ” “Sooner or later, ETH will outpace Bitcoin and become the global standard”, said Polygon co-founder Sandeep Nailwal in an exclusive interview with Cointelegraph. Nailwal believes that Ethereum will eventually become “the ultimate settlement layer” for the DeFi space. Polygon will play…
“# IMVU to integrate Immutable X for NFT gaming ” Immutable X, the scaling solution for layer-2 NFT protocol Immutable, has penned an agreement with Together Labs to integrate into the platform’s native social metaverse IMVU. The partnership will foster the creation and distribution of NFTs within the game’s virtual ecosystem. IMVU, pronounced “imm-view,” is…
“# Ethereum alternatives and layer-1 solutions see steady gains in September ” The competition among layer-one (L1) smart contract platforms has been on the rise in the past couple of months as traders and developers continue to embrace Ethereum (ETH) network alternatives that offer faster transaction times and lower fees. According to a recent report…
“# Derivatives data suggests Solana has reached a short-term top ” Solana (SOL) reached a $216 all-time high on Sept. 9 after rallying 508% since Aug. The bull run caused some analysts to project a $500 target which would translate to a $150 billion market capitalization. It is worth noting that during SOL’s rally, the…