Arbitrum (ARB) is a Layer-2 scalability solution for the Ethereum (ETH) blockchain network. Essentially a roll-up technology, Arbitrum eliminates privacy and scalability issues for Ethereum smart contracts. Arbitrum users can create Ethereum smart contracts while paying lower transaction fees and experiencing less network congestion.
Today, thousands of decentralized applications and many more smart contracts are running on the Ethereum network. This inherently leads to congestion and scalability issues in the Ethereum network. Transaction fees increase and transaction speeds slow down. Arbitrum provides solutions to these problems by using roll-up technology.
The platform makes it easy for developers to execute unmodified Ethereum Virtual Machine (EVM) contracts and ETH transactions at Layer-2. That is, Ethereum processes its transactions outside of the ETH mainnet. However, developers can still benefit from Ethereum’s excellent Layer-1 security for these transactions. This is made possible thanks to roll-up technology.
Arbitrum roll-up technology aggregates Ethereum transactions and executes them on a more scalable and cost-effective Layer-2 chain. Once transactions are completed on Arbitrum’s Layer-2 chain, they are sent in small packets to the Ethereum mainnet where they are recorded on the blockchain. Transactions containing any violations may be detected on the Ethereum mainnet and deemed invalid. We will discuss this process in more detail in future sections.
Arbitrum also made a lot of noise with its ARB token airdrop process. ARB token, which has been expected to be released for a long time, is the governance token of the Arbitrum platform and is used in the Arbitrum DAO.
What Makes the Arbitrum Project Special?
Arbitrum enables you to perform faster and cheaper transactions safely on Ethereum, one of the most popular blockchain networks.
At the same time, Arbitrum provides ease of use to developers. Arbitrum is one of the roll-ups most compatible with EVM. It allows developers to create smart contracts in all EVM compatible coding languages. Soon, Arbitrum will also make it possible to create programs with coding languages such as C and C++. This ease of use makes Arbitrum more advantageous for developers.
Visits: 25
