• Coinbase was in the news this week for the launch of its new Layer 2 project, Base, and also for cutting ties with Silvergate Bank.
• The Ethereum network has successfully completed the second testnet, i.e., the Sepolia testnet, in preparation for the upcoming Shanghai upgrade.
• DeFi platform ArbiSwap appears to have rug-pulled after withdrawing over $100,000 from its liquidity pools.
Coinbase Launches Layer 2 Project Base
Coinbase was in the news this week for launching its new Layer 2 project called Base and cutting ties with Silvergate Bank. The Bitcoin price has fallen sharply due to concerns that Mt Gox bitcoin may be released to the market as Silvergate collapses.
Ethereum Network Prepares For Shanghai Upgrade
The Ethereum network has successfully completed its second testnet, i.e., the Sepolia testnet in preparation for the upcoming Shanghai upgrade. Core developers have agreed to push the Shanghai/Capella upgrade to early April in their latest All Core Developers Execution call and are also working on a new testnet called Holli to address issues related to ETH purchase on blockchain’s test networks.
Decentralized Exchange ArbiSwap Appears To Have Rug Pulled
The recently launched decentralized exchange ArbiSwap appears to have rug-pulled after withdrawing over $100,000 from its liquidity pools. The Solana Network faced a significant slowdown in block production after a planned upgrade adversely impacting transactions and forcing validators to downgrade their software version to restore performance.
Chainlink Integrates With Coinbase’s Base
Blockchain development firm ConsenSys is set to begin public testing of its upcoming zero-knowledge Ethereum Virtual Machine (zkEVM) on a public testnet soon while Coinbase announced integration with Chainlink’s off-chain feeds through its newly launched Layer 2 project Base. Near Protocol announced it is shifting into becoming a Blockchain Operating System or BOS while Chainlink launched Chainlink Functions developer platform connecting Web3 applications with traditional cloud software tools like AWS Lambda etc.. 0x Labs launched a new transaction relay API built for Polygon and Ethereum too.
Coinbase Cuts Ties With Silvergate Bank
Coinbase has cancelled their association with Silvergate Bank opting instead an association with rival bank while Singapore based crypto lender Vauld was granted an additional extension by MAS (Monetary Authority of Singapore). March 2023 is set to see $640 million worth of tokens entering markets from 18 projects unlocking during month then .