Arbitrum is a Layer 2 scaling solution for Ethereum, and the ARB token is a cryptocurrency associated with the network, facilitating transactions and providing incentives for validators.
Arbitrum is a Layer 2 scaling solution for Ethereum, developed by Offchain Labs. It aims to enhance Ethereum's scalability and reduce transaction fees by enabling faster and more cost-efficient smart contract execution through its Optimistic Rollup technology.
Arbitrum was founded in 2018 by Ed Felten, Steven Goldfeder, and Harry Kalodner, Offchain Labs created Arbitrum to address Ethereum's scalability challenges. In 2020, Offchain Labs raised funding for the Arbitrum project. In May 2021, Arbitrum launched its mainnet beta, allowing developers to deploy and test decentralized applications on its Layer 2 solution. This marked a significant milestone for Ethereum's scalability efforts.
By September 2021, Arbitrum's mainnet beta had attracted attention from various DeFi projects and users seeking to leverage its scalability benefits. Its technology demonstrated promising potential for alleviating congestion and high gas fees on the Ethereum network. For the most current advancements, refer to the official Offchain Labs website and recent news sources.
In 2024, Arbitrum made significant progress in enhancing its Layer 2 solution. The most notable update is the release of ArbOS 20, also known as "Atlas," which integrates support for Ethereum's upcoming Dencun upgrade (EIP-4844). This upgrade optimizes data availability and reduces transaction costs, making Arbitrum more efficient and scalable. Additionally, the launch of the Stylus programming environment enables developers to build smart contracts using languages like Rust, C, and C++, expanding its developer ecosystem.
Arbitrum also introduced the BOLD (Bounded Liquidity Delay) protocol, facilitating permissionless validation to enhance decentralization and security. The Arbitrum Orbit initiative continues to support teams in deploying custom chains using Arbitrum Nitro technology, enabling high flexibility and scalability. These advancements position Arbitrum as a leading solution in the Ethereum Layer 2 ecosystem, continuing its mission to provide efficient and accessible blockchain technology.
Above are only for introduction, not intended as investment advice.
