✊ Jack Dorsey's Problem With WorldCoin

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Gm, this is Doodhwala, the only crypto newsletter that will keep it real with you. ✊

Wearing a tacky shirt? We’ll call you out.

Buying too many shitcoins? We’ll call you out.

Telling people to invest in scam projects? We’ll call you out.

Here’s what we got for you:

• 🛡️ L2s on ETH: L2s of ETH Are Over-Performing ETH

• 🫂 Dear Jack: Jack Dorsey’s Crypto Problem

• 📈 Latte and Lists: SOL’s Revenge Arc Is Here

• 🛠️ Resourcewala: Medium-of-Exchange Tokens. That’s it.

• 🍼 Doodhwala: Alien Arrival = Token pump?

🚀 Ethereum Layer-2s On Fire!

Ethereum L2s are really taking off! 🚀

Last quarter, the activity on Ethereum’s Layer-2s was bigger than that of Ethereum itself!

*frowns in Vitalik*

Layer-2s are on fire with total average transactions per second (TPS) hitting a cool – 45.3! 😮

That’s:

• 45 transactions per second

• 2,700 transactions per minute

• 162,000 transactions per hour

• 3.8 million transactions per hour

Put that against Ethereum's 11.91 TPS and you can see why we're excited. 👀

Hold up...let’s rewind to wtf is a Layer-2? 🤔

So, what's driving all this excitement?

A cool thing called airdrop farming.🌾

No, it's not about growing crops through your iPhones.

Thanks to airdrop farming, there's now loads of activity on Layer-2s.

In fact, it's 287% busier than it was a year ago.

And the number of separate networks built on top of Ethereum, all aiming to make it better, has grown to more than 20.

And the most popular networks? They are:

• Arbitrum

• Optimism

• zkSync Era

• Polygon [zkEVM]

Most people using Optimism do so through platforms like – Uniswap V3 and Stargate.

Like I use different mails to get the same coupons for my whole family.

But even with all this craziness, the guy in charge of LayerZero (the parent company of Stargate), Bryan Pellegrino, isn't worried.

He says that even if most of the activity comes from people farming for tokens, their network is still the most used in the world. And just to top it all off, Ethereum made 85% more money last quarter because of memecoin trading. 👇

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🥴 Dear Jack Dorsey…

Jack Dorsey.

Yup.

The doodh who co-founded Twitter is now angry about so many things in life.

WTF is he up to in crypto all of a sudden?

And why is he disappointed and shouting at just about anything nowadays?

Let’s understand the man, and see what the hell he is cookin.🍿

1️⃣ The story of Jack Dorsey and crypto.

Say hello to Jack Dorsey, part-time Billionaire, full-time weird beard dude. 👇

☝️This man in 2022 said - “Aight, Imma head out” as a Board member of Twitter and decided that he would do 3 things full time—

• Pursue innovative ways of mining and adopting Bitcoin.

• Build his existing business Block as a leader in the payments and infrastructure space.

• Become a premium member of the Doodhwala.🥛

Jack also has helped multiple initiatives that go all the way from pursuing Decentralized Free Speech to pushing the adoption of Bitcoin in Africa.😮

Man’s got one helluva resume!

2️⃣ Jack’s obsession with the Lightning Network.

Here’s the thing tho. The part where it gets a bit weird. 🥴

The man is a huge Bitcoin Maximalist.

Like huuuuuuuuuuuge. (Donald Trump's voice echoes)

Hey, we’re not judging anyone. Our opinions are trash most times.🗑️

But he’s the kinda doodh that wants everything to happen in his own way. 🤷

Here’s what we’re trying to say.

When Coinbase CEO and bald boi Brian tweeted out how USDC can be used to make quick coffee shop payments – Jack simply @’s him and fights about the integration of the Lightning Network aka Bitcoin’s scaling solution to allow for faster payments. ⚡

Bro’s so invested in the Lightning network—

That he failed to even see how fast things were moving on for USDC. 🤭

3️⃣ Jack’s opinion on Worldcoin.

And things don’t end with just that.

Y'all remember Worldcoin that released this week right? 👀

We wrote about it here and here.

Jack being Jack had to say something about the project, innit?

Jack used the ancient art of displaying through digital tech for this one.

A.k.a, he dropped a ‘😞’ reply to a Worldcoin video posted by the founder Sam Altman. 👇

Now look:

We know that Worldcoin has its own problems. 🤡

And the video that Sam Altman posted literally has a dystopian vibe of people standing in line waiting for their eyes to get scanned. 🙄

But Jack Dorsey is Jack Dorsey. He can say what he wants. 🤷

Let's just have an informed choice of us listening to him tho.🥲👍

📈 Latte and Lists: $SOL Rises from the Ashes

Guess who's back?

Back again?

$SOL’s back.

Tell a friend.

Just when we thought we had seen the last of Solana, it puts on a brave face and comes back into the top 10 cryptos with a market cap of $360 million! 🔥

But hold your doodh glasses!

Solana’s market cap is still 50% less than its peak during the FTX mayhem.

🏀 Some think SOL is like Michael Jordan – it’ll comeback and win 3 more championships.

⚽️ Others think SOL is like Cristiano Ronaldo – it’ll comeback to where it once was, only to sit on the bench, and eventually sold to a retirement league.

Tho this comeback might be the result of Solana’s co-founder's proposition of Ethereum being a Layer-2 for Solana! 🤯

I mean it’s crazy to think about it, and if it happens - Solana can become unstoppable.

The big question is: Is this a one-time thing or is $SOL gearing up for a major return?

We'll just have to wait and see. In the meantime, keep an eye on $SOL's moves. 👀

So, are you cheering for $SOL or doubting its comeback?

Reply and let us know! 👇

🛠 Resourcewala: Get Your Head Around Medium-of-Exchange Tokens

So, you’ve stumbled across the "network medium of exchange token" model and are scratching your head? Well, that makes two of us! 🧐

Everyone’s raving about it, but few actually GET it. 🤯

Here’s the thing – developers build a network.

This network is – the craziest party ever, filled with sellers (those party animals!) offering resources, and buyers (the wallflowers) who want those services.

And the entry ticket? The new token they’re selling. 🎟️💰

If it’s the developers selling, it’s like a Kickstarter project. But what if it's not? 🤔

Today's resource uncovers the mysteries around:

• What the hell are Medium-of-Exchange Tokens?

• How does the model work?

• The difference between developers as sellers vs. the community

🍼 Doodhshots: The Aliens Are Here

• ⚖️ Justifying Justice: Sam Bankman Fried will not be facing any campaign Finance charges as per the US Department of Justice. Cool, can I have my money back then?

• 📈 BNB’s Report: Binance released a report about the rise of smart contracts despite a bear market. Well, what do ya know? There is hope!

• 👽 Alien Invasion: Talks about aliens in Congress pushed the token price of the blockchain-based game Alien World by over 3.5%! Aliens = Airdrop confirm?

• 🔻 Losing Stability: An ongoing talk about Stablecoins that was about to come to a conclusion, got dismissed in the end. My laptop when I’ve downloaded 99% of a 100GB file.

• 👵 Wholesome NFTs: A 99-year-old artist from Hungary had her computer-generated art sold as NFTs sold for $1.2 million. Who’s cutting onions?

📍Web3 Events Nearby

Another weekend coming up, another meetup to attend. 😎

Check out ➡️ meetupswala.xyz for upcoming Web3 events in your city, whether you're looking for:

• meetups

• hackathons

• conferences

• or just wanna hang

Meetupswala will have something that's right for you.

Here are the top Web 3 events for this week:

1️⃣ Analyst Collective Office Hours with Chia Jeng Yang

🗓️ Today 📍 Online

⭐️ Register here → https://www.meetupswala.xyz/events/1001

2️⃣ Kanalabs Konnect

🗓️ This Sunday 📍 Delhi (NCR)

⭐️ Register here → https://www.meetupswala.xyz/events/971

3️⃣ India Blockchain Tour

🗓️ This Saturday 📍 Kolkata

⭐️ Register here → https://www.meetupswala.xyz/events/802

🤣 Milky Meme Of The Day

If you want more doodh then, be sure to follow our Twitter, LinkedIn, and Instagram.

That’s all for today folks! See ya tomorrow!

Yo! Our legal and financial advisors (aka our good ol’ conscience) have asked us to add this boring disclaimer. None of what you read here is financial advice. We aren’t here to get you to buy or sell crypto. We’re only here to tell you what’s up in crypto today and make you laugh. So, if you screwed up on a trade, that’s on you G. Stay safe in the markets.

Today’s edition was brought to you by Ritik Gupta and Sumanth

Edited by: Arvind Krishna and Aakash Athawasya