Merlin Chain ‘sets new standard’ for blockchain security with chain architecture

Merlin Chain, a specialist in Bitcoin-native layer 2 (L2) protocols, has rolled out a comprehensive suite of security measures alongside what it describes as revolutionary chain architecture.

This initiative follows the platform's remarkable achievement of securing a $3.5 billion Total Value Locked (TVL) just 30 days after its mainnet launch, attracting an impressive cohort of over 200 projects to its rapidly expanding ecosystem.

At the heart of Merlin Chain's ethos is...

Coinbase wants inflation-pegged flatcoins on layer-2 ‘Base’ network

Inflation

US crypto exchange Coinbase wants inflation-pegged “flatcoins” to be one of four “critical” innovations it hopes to see on its newly launched layer-2 network, Base.

The company also wants developers to explore an on-chain reputation system, an on-chain limit order book (LOB) exchange, and tools to improve safety in decentralised finance (DeFi).

Coinbase announced the four areas in a ‘Request for Builders’ post, published a month after launching Base – a...

Coinbase is launching its own layer-2 network, called ‘Base’

Ethereum

US crypto exchange Coinbase is launching its own Ethereum layer-2 network, called Base.

The NASDAQ-listed company says the new network will provide a low-cost and developer-friendly environment for creating decentralised apps (DApps).

Base has been designed as a bridge to onboard users into the crypto economy, providing access to other layer-1 blockchains like Solana and making it interoperable with other...

Polygon implements hard fork to reduce gas spikes

Blockchain

Ethereum layer-2 scaling solution Polygon has undergone a hard fork to reduce gas spikes and address issues that have impacted users on its proof-of-stake (PoS) chain.

The fork was code into block 38,189,056 and no centralised actor initiated the shift. Polygon informed validators that they would have to update their nodes earlier this week.

https://twitter.com/0xPolygon/status/1615370181630652417

87% of the 15 voters making up Polygon’s governance team voted in...

Polygon decentralised apps increase to 37,000, up 400% in 2022

Ethereum

Layer 2 Ethereum scaling platform Polygon has seen more than 37,000 decentralised applications (dApps) developed on its network, a 400% increase since the start of 2022.

The figures were sourced from partnered Web3 development platform Alchemy and represent the cumulative number of applications ever launched on both the Polygon testnet and mainnet.

In terms of active developer teams, Polygon reached 11,800 at the end of July, up 47.5% since March.

The project...

StarkWare set to reach £4.5bn valuation for its blockchain scaling solutions

Layers

StarkWare, an Ethereum Layer 2 start-up, is on track to close a $100 million (£76m) funding round, according to Israeli news source Calcalistech.

Whilst not yet announced, the funding will follow a $50 million (£38m) Series C from November last year that pulled in investors such as Sequoia Capital, Paradigm, Three Arrows, and more. Back then, the company was pegged at a $2 billion (£1.53bn) valuation.

Now expected to push for a $6 billion (£4.57bn) valuation,...