Ethereum is showing a new rally, outperforming Bitcoin in daily growth rates. 👍 All this happens against the backdrop of the release of the long-awaited Arbitrum project from Offchain Labs, which attracted $ 120 million for its further development.
💎 Arbitrum is the first Ethereum network scaling solution from Offchain Labs. The main goal of the solution is to increase the speed and scalability of smart contracts. And, as a result, a decrease in the cost of Gas for transactions, although this has not yet been observed in the first days of the launch.
💎 Arbitrum is built on the layer 2 principle, ** the principle is based on the creation of ** a second layer network that takes the load off the main Ethereum network. Developers can run unmodified contracts in the Ethereum EVM by bringing them to the second level, and rely on the security system of the Ethereum core network at the first level. 😎 Sounds great and is finally done.
💎 The technology behind Arbitrum is an optimistic roll-up. Almost the same as the Optimism project. Although Arbitrum provides a greater degree of protection against online fraud by using the logic of breaking smart contracts down to the level of single instructions. The essence of the scaling mechanism is to transfer a message between smart contracts of the main level and the blockchain of Arbitrum itself.
Most of the transaction processing is done at the second level, and the results are recorded on the main blockchain, which greatly improves speed and efficiency.
Why are roll-ups called optimistic?
Any validator can publish a merge block and confirm the validity of other blocks, while using the information to restore the complete history of the blockchain from the optimized event log. Wow! All in all, very impressive for blockchain experts! 🔥
💎 So, what distinguishes Arbitrum from a dozen other projects that also scale the Ethereum network all the time:
1) High compatibility with EVM. (Ethereum Virtual Machine) Considered the most interoperable second-tier solution available. 😊
2) Minimized barriers to third-party entry. All documentation is ready and available for creating third-party blockchains. 😊
3) Low fees and increased network bandwidth. Sounds fresh. 👍However, so far the commissions are by no means low. Ethereum hasn't figured out yet that it has been scaled.
4) Qualitatively tested network.
5) Developed ecosystem. Arbitrum works with a wide range of DApps Ethereum, Uniswap, Dodo, SushiSwap.
All this is great, let's see how it really affects the work of the Ethereum network.