Arbitrum (ARB)
Arbitrum is a layer-2 scaling solution built on top of the Ethereum blockchain that allows Ethereum transactions to be processed faster and cheaper. Arbitrum is fully compatible with Ethereum’s applications, it can run thousands of transactions per second at a cost of less than a fraction of a cent. Arbitrum stands out as being one of the largest layer-2 scaling solutions in crypto.
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Arbitrum (ARB) Price
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Arbitrum (ARB) Returns
As of December 12, 2023 11:00 PM GMT+2
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About Arbitrum (ARB)
What is Arbitrum (ARB)?
Arbitrum is a Layer 2 solution designed to scale the Ethereum blockchain by enhancing its speed and efficiency through optimistic rollups.
Rollups are a Layer 2 technology that processes transactions off-chain, submitting only cryptographic proof back to Ethereum. Optimistic rollups assume transactions are valid unless contested.
This approach boosts transaction throughput and lowers gas fees while preserving Ethereum's security.
Arbitrum uses Ethereum's Solidity smart contracts to power decentralised applications (dApps) across various sectors, such as decentralised finance (DeFi), NFTs, payments, and gaming.
Arbitrum's native token, ARB, is an infrastructure token, supporting the functionality, efficiency, and security of the Arbitrum network and its dApps. It specifically covers transaction costs on Arbitrum.
How Does Arbitrum (ARB) Work?
Arbitrum uses optimistic rollups to enhance Ethereum's scalability. It’s compatible with unmodified Ethereum Virtual Machine (EVM) contracts and transactions, allowing existing Ethereum DApps to run on Arbitrum without code alterations. Arbitrum is designed to process a high volume of transactions per second, aiming to reduce fees and speed up transaction finalisation. With Stylus, its upcoming EVM+ feature, developers can deploy programs written in popular languages like Rust and C++. Arbitrum operates on a decentralised network of validators who stake ARB tokens and are rewarded for securing the network, without relying on a centralised operator or sequencer for transaction ordering.
The History of Arbitrum (ARB)
Arbitrum was developed by Offchain Labs, a New York-based company founded by former Princeton University researchers Ed Felten, Steven Goldfeder, and Harry Kalodner, who have deep expertise in computer science, cryptography, and blockchain. In 2021, Offchain Labs secured funding in a Series B round led by Lightspeed Venture Partners, significantly boosting the company's valuation. The introduction of the Arbitrum DAO marked a move towards decentralised governance, with the ARB token serving as the governance token. In March 2023, Arbitrum conducted an airdrop of ARB tokens to early users and DAOs building on the platform, with the token generation event occurring on March 23, 2023. Arbitrum also outlined a detailed roadmap for 2023, signalling continued growth and development.
What Makes Arbitrum (ARB) Unique?
Arbitrum leverages optimistic rollups to offer developers a more scalable and cost-effective platform compared to Ethereum layer one, making it an attractive solution for those facing Ethereum's scalability and cost challenges. With its upcoming EVM+ equivalence feature, Stylus, Arbitrum will also allow developers to deploy programs written in popular languages like Rust and C++. Governance within the Arbitrum ecosystem is driven by the ARB token, which gives holders the ability to vote on proposals related to protocol upgrades, feature development, fund allocation, and the election of a Security Council, shaping the future of the network.
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Crypto Risk Disclosure
High Volatility and Risk of Loss
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