4 min read

Luganodes BlockBytes— June Edition 1

Network Updates!

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Published on

20 June, 2023

Hello Staker. Welcome to Luganodes BlockBytes, a brand-new series to bring you the latest network updates and major industry breakthroughs.

Polygon 2.0 Ultimate Value Layer

2_U3fUAwuKkodkYcc-e_PiaQ.webp The Polygon team has unveiled Polygon 2.0, the blueprint for building the Value Layer of the Internet. Polygon 2.0 brings radical upgrades to every aspect of Polygon, from protocol architecture to tokenomics to governance. It aims to unlock unlimited scalability and unified liquidity through ZK-powered L2 chains and a novel cross-chain coordination protocol. The Polygon 2.0 roadmap is set to be unveiled gradually, covering essential topics such as the future of the PoS chain, token utility, and the transition to greater community governance.

With formal governance processes in place, the Polygon ecosystem empowers builders, creators, and stakeholders to shape the network’s future. As one of the leading validators on the network, Luganodes is thrilled to express our support and enthusiasm for this groundbreaking upgrade. We will be actively engaging in the Polygon community, participating in AMAs, and providing support to help Polygon realise its vision of becoming the ultimate Value Layer.

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  • Highlight: NEAR continues to thrive with a robust and scalable infrastructure, with daily transactions averaging 393K in Q1 2023, and daily active accounts hitting an all-time high of 64K.
  • TVL: NEAR’s ecosystem is thriving with a TVL of $65M in Q1 2023. Despite a slight decline in Q1, the DeFi sector remains promising. Protocols like Bastion Protocol, Ref Finance, Burrow, and Orderly Network continue to lead the way, while the rest contribute to the growing TVL.
  • Developer Communities: In 2022, NEAR experienced a remarkable 40% increase in developers and a staggering 20x growth since 2018. Initiatives like the NEAR Protocol Primer, partnerships with NYU SPS, and Startup Wise Guys demonstrate NEAR’s dedication to developer engagement and education.
  • Decentralisation: The launch of Phase 1 of Nightshade sharding tripled the network’s validator capacity, surpassing 200 active validator nodes; and total staked NEAR has reached $525M, strengthening the network’s security and decentralisation.
  • Capital Allocation: NEAR is actively working towards decentralising capital allocation. Community DAOs, including Marketing DAO, NEAR DevHub, Creatives DAO, and NEAR Digital Collective, empower the community to make funding decisions.

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  • Highlight: The robustness of the Solana network is evident in its continuous growth and resilience. With over 300K unique stakers and more than 3400 validators, the network has shown remarkable decentralisation and belief from the community.
  • Network Upgrade: Solana’s performance has been enhanced through network upgrades such as QUIC, stake-weighted QoS, and local fee markets. These improvements have optimised network performance, enabling high-volume events like the recent Madlads xNFT mint to occur smoothly with minimal issues.
  • Operational Nakamoto Coefficients: It places Solana at the forefront, with a score of 1.9. This further emphasises its robustness and ability to handle increased network demands.
  • DEX: The rise of gateway interactions from gaming applications and the emergence of new consumer platforms reflect changing user preferences and expanding use cases beyond DEXs and NFT markets.
  • Developer: Developers on Solana now have access to Iron forge, a powerful tool that simplifies development and abstracts complexities. Developers can focus on creating innovative dapps instead of spending time on backend integrations. It’s a gateway to serverless Solana development.
  • NFT: Solana’s commitment to the NFT space is evident with the Solana NFT Showdown, a unique pitch competition fostering the next generation of NFT brands, aiming to bring real-world products to verticals like fashion, entertainment, and gaming.

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  • Highlight: In the week of 5th June, TVL on the Ronin Network has crossed the $80M mark, indicating a healthy and thriving ecosystem.
  • NFT: Ronin Network has now become the second blockchain by all-time NFT volume, trailing only Ethereum.
  • Active Addresses: The number of active addresses on Ronin has steadily increased. In May, we witnessed a growth of approximately 3,000 addresses.
  • Binance: Binance will continue to support the Ronin network upgrade and hard fork. They have integrated native AXS, SLP and USDC withdrawals and deposits.

About Luganodes

Luganodes is a world-class, Swiss-operated, non-custodial blockchain infrastructure provider that has rapidly gained recognition in the industry for offering institutional-grade services. It was born out of the Lugano Plan B Program, an initiative driven by Tether and the City of Lugano. Luganodes maintains an exceptional 99.9% uptime with round-the-clock monitoring by SRE experts. With support for 36+ PoS networks, it ranks among the top validators on Polygon, Polkadot, Sui, and Tron. Luganodes prioritizes security and compliance, holding the distinction of being one of the first staking providers to adhere to all SOC 2 Type II, GDPR, and ISO 27001 standards as well as offering Chainproof insurance to institutional clients.

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Persistence — How to Stake $XPRT Tokens with LuganodesPersistence is an innovative Layer-1 blockchain designed to facilitate a range of financial products and services. It's known for its robust ecosystem that includes NFT marketplaces, liquid staking, and DeFi solutions. This guide will provide you with clear instructions on how to delegate your $XPRT tokens with Luganodes. By staking your $XPRT tokens, you can earn rewards and become an integral part of the thriving Persistence community. Follow these simple steps to start staking your $XPRT tokens and explore the diverse opportunities within the Persistence network.
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