Rootstock, a Bitcoin layer 2 solution, has made a splash. They've verified a SNARK proof on-chain. This could be huge for zero-knowledge proofs on Bitcoin. The verification happened Thursday on Rootstock's mainnet. They'd already nailed it on the testnet a day earlier. Rootstock used BitVMX for this feat. It's their tweaked version of BitVM. BitVM is a computing model. It aims to bring Ethereum-style smart contracts to Bitcoin. SNARK stands for Succinct Non-Interactive Argument of Knowledge. It's a mouthful, right? Basically, it lets you prove you know something without spilling the beans. This move is a big deal for BitVMX. It shows the system can challenge and validate SNARK verifiers on-chain. Rootstock's team was pretty chuffed. They said in an email, "This breakthrough opens the door for replicating this process with any program compiled to the RISC-V architecture." They're using BitVMX's general-purpose virtual CPU for this. It's some serious tech. The implications could be far-reaching. Zero-knowledge proofs on Bitcoin? That's new territory. It's not just about Bitcoin, though. This could impact the whole blockchain scene. Will other platforms follow suit? Only time will tell. But Rootstock's definitely made waves with this one.

Ethereum and its layer-2 networks are experiencing a massive uptick in user activity. Daily active addresses skyrocketed by 127% in the first half of 2024. This growth stands in stark contrast to Bitcoin's performance. The leading crypto, which is clearly becoming dominated by so-called HODLers, saw a 20% drop in daily active addresses during Q2. What's driving this shift? It's all about the L2s. Layer-2 networks, built on top of Ethereum, are designed to speed up transactions and keep fees low. They're like Ethereum's cooler, faster cousins. These solutions process transactions on separate chains before sending the data back to Ethereum for final recording. Linea, Base, and Arbitrum are leading the L2 pack. Together, they boast a whopping 1.8 million daily active addresses. That's no small potatoes. Vitalik Buterin, Ethereum's co-founder, called L2s "the ultimate playing field for action" back in May. He wasn't wrong. Institutional players and NFT enthusiasts are flocking to these networks in droves. The numbers don't lie. Ethereum and L2 transactions jumped 59% in Q2 2024. But here's the kicker: most of that growth happened on L2s. They're outpacing Ethereum itself by a long shot. "The move onchain is driven by a variety of use cases," according to a recent report. "We expect to see adoption grow as existing use cases mature and innovative new ones take hold." It's not all sunshine and rainbows for Ethereum, though. Total transaction fees on the network dropped by 58% in Q2. But don't panic – this was actually by design. The Dencun upgrade in March slashed fees, making the network more user-friendly. Meanwhile, Bitcoin's been having a rough go of it. Daily active addresses fell 20% in Q2, and daily active entities dropped 16%. It's looking a bit like yesterday's news compared to Ethereum's L2 party.

Lumia has rolled out its Layer 2 (L2) network for Real-World Assets (RWAs). The move aims to boost on-chain liquidity. It also seeks to broaden the user base for tokenized assets. The network is modular. It offers higher capital efficiency. Lumia claims it's one of the first rollups designed for RWAs. The network can tokenize real estate, commodities, art, equities, and financial indexes. Lumia's L2 integrates Polygon AggLayer. This supports rapid cross-chain transfers via ZK proofs. The result? Faster loading times for users. Nice one, Lumia. Lumia Stream, the platform's liquidity module, is a key feature. It aims to maximize trade value on Lumia L2. The goal is to tackle liquidity fragmentation by offering deep liquidity. Lumia Stream connects major CEXs and DEXs. It creates a decentralized source for DeFi protocols to tap into large liquidity pools. Liquidity providers can expect high capital productivity. The 1-inch RFQ showcases this efficiency. It processed $8M in volume using just $30K in capital for 28 assets. That's pretty impressive stuff. The current DeFi market is fragmented. Ethereum holds $59 billion in DeFi Total Value Locked (TVL). The next eight top EVM chains add another $22 billion. Lumia wants to consolidate this liquidity. With the mainnet launch, Lumia is rebranding. It's swapping the existing $ORN token for $LUMIA. The new token will cover transaction fees and node operations. Lumia has lined up a strong list of partners and service providers. It's also offering grants to builders. The aim? To encourage exploration of economic opportunities in the Lumia ecosystem. The partnership with Polygon AggLayer shows Lumia's focus on performance. ZK proofs enable near-instant cross-chain transactions. This sets a new benchmark for L2 solutions. Lumia recently rebranded from Orion. The company has been a leader in liquidity aggregation. It's now aiming for a full-fledged solution for retail consumers to access DEX and CEX liquidity. In a nutshell, Lumia's L2 network is making waves in the RWA space. With its focus on liquidity and user experience, it's definitely one to watch. But will it live up to the hype? Only time will tell.

BVM Studio has unveiled a no-code blockchain deployment tool. It's supposed to make blockchain tech more accessible. The new tool offers a visual interface. Users can deploy blockchains using drag-and-drop blocks. It's like building with LEGOs, but for blockchain. BVM Studio claims anyone can create a zero-knowledge rollup blockchain. No coding skills required. No fancy hardware needed either. The BVM team admitted it has some drawbacks. "It may not offer the same depth of customization as fully custom-coded solutions," they said. But they're not sitting still. They're "constantly adding new modules and options to enhance flexibility." Traditionally, deploying a blockchain was a pain. You needed tech know-how, cash, and a solid grasp of coding and security. BVM's new self-service tool changes the game. The team boasts it "requires no technical setup or coding skills." They reckon "anyone can deploy a blockchain in less than 2 minutes." Users can tweak various aspects of their blockchain. This includes the base layer, hardware, and even pre-installed DApps. Security is a big deal in blockchain. BVM's tool uses ZK-rollup tech to keep things safe. It's got "three key components": ZK-proofs on Bitcoin, ZK Provers, and ZK Light Nodes. The team's pretty chuffed about their Light Nodes. "Anyone can run a ZK Light Node on an old laptop," they claim. What about the regulators? BVM's not sweating it. They say "creating a blockchain doesn't conflict with any regulatory standards." Their tool just makes it easier to build one. The tool lets users deploy layer-2 and layer-3 blockchains. They can do this on either Bitcoin or Ethereum. Is this the future of blockchain deployment? It's too early to tell. But BVM's certainly shaking things up with their no-code approach.

BNB Chain, the blockchain network founded by Binance, has unveiled a new layer-2 solution. It's called opBNB. The testnet launched on June 19. OpBNB is based on the Optimism OP Stack. Binance claims it will boost security and scalability. The new chain is compatible with Ethereum Virtual Machine (EVM). BNB Chain currently processes about 2,000 transactions per second. Transaction costs hover around $0.10. OpBNB promises to up the ante. According to Binance, opBNB can handle over 4,000 transfer transactions per second. The average cost? Less than half a cent. That's pretty sweet, if true. The new layer-2 solution also tweaks a few other things. It optimizes data accessibility and the caching layer. It also adjusts the submission process algorithm. These changes allow for a higher gas limit. OpBNB can handle 100 million per block, compared to Optimism's 30 million. Binance is pulling out all the stops here. Binance is touting opBNB as their answer to blockchain's scalability problem. They reckon it's been holding back mass adoption. No kidding, Sherlock. OpBNB uses Optimistic Rollups to scale transactions. It processes data off the root chain, assuming it's valid until proven otherwise. Sounds risky, but that's the game. The new solution also simplifies integration with a user-friendly RPC service layer. Developers can focus on building apps without sweating the technical stuff. Not everyone's buying the hype, though. Adam Cochran of Cinneamhain Ventures threw shade at the move. He reckons BNB Chain's scaling issues stem from unsafe centralization. Cochran suggested alternative solutions. Joining Optimism as a "superchain" or becoming an Ethereum layer-2 were among his ideas. But Binance seems set on doing its own thing. Despite the skepticism, BNB Chain remains a big player. It's the third-largest blockchain in DeFi total value locked, behind Ethereum and Tron. It boasts $3.38 billion in TVL and about a million daily active users. Will opBNB be the game-changer Binance hopes for? Or is it just another layer in an increasingly complex crypto cake? Only time will tell. For now, the crypto world watches and waits.