Food for thought on Bitcoin energy consumption 💭

Farcaster becomes permissionless, crosses 24.2k total users 📈

Commemorating the largest community effort in OurNetwork history.

Last week marked the one year anniversary of The Merge, Ethereum’s pivotal transition to Proof of Stake which fundamentally changed the network's security model and economic policy. Post-Merge, yearly ETH issuance has fallen by close to 90% compared to the Proof of Work regime. Taking into account the burning of base fees, 65% of the days since The Merge have been net deflationary. Lower fees as of late have resulted in more positive ETH issuance days, though.

With 7,000+ dashcams distributed worldwide, Hivemapper’s reach now extends to more than 90 countries. The decentralized network enables anyone to contribute street-level imagery from anywhere in the world, which it transforms into a fresh global map using AI. This inclusiveness has fostered a vibrant international community that has quickly scaled the collection of map data beyond the US and Europe, generating substantial world coverage in a matter of months.

In February 2023, Optimism unveiled the vision for the Superchain, which "seeks to integrate otherwise siloed L2s into a single interoperable and composable system." Today, teams are building on the OP Stack to launch Ethereum L2s, including OP Mainnet, Base, Zora Network, and Public Goods Network. In August, these four chains generated 4.4k ETH in total transaction fees, resulting in 2.2k ETH of Net Onchain Revenue (fees minus L1 data costs).

Source: ournetwork.substack.com