We have expanded in Q1 our API services to Polygon and xDAI, just recently we have expanded it to Fantom and now we are proud to announce the expansion to Arbitrum and we are the first ones to do so!
In early 2021, Ethereum transaction fees shot up to new highs due to the network’s insufficient scalability. As a result, the DeFi sector, which has traditionally been built around Ethereum, became largely unusable for average users who were suddenly forced to pay around $30–50 in gas fees for a single transaction.
L2 solutions for Ethereum are particularly important these days, as lots of people who have been locked out of DeFi due to the extreme fees are looking for alternative ways to use it. Moreover, these solutions can benefit the Ethereum network in the longer term, ultimately making its entire ecosystem even more decentralized, robust, and less dependent on the core Ethereum developers. Arbitrum solutions offer increased speed and reduced costs, and Ankr’s API endpoints enable developers to easily interact with and build on this network.
Arbitrum is a scaling solution for Ethereum that drastically reduces costs and latency. A so-called “Optimistic Rollup”, Arbitrum instantly scales apps, reducing costs and increasing capacity — without sacrificing Ethereum’s security. Porting contracts to Arbitrum requires no code changes or downloads as Arbitrum is fully compatible with all existing Ethereum developer tooling. Arbitrum has launched Arbitrum One on the Ethereum main net and is open for developers, and the team is already working with hundreds of teams ahead of its upcoming release to the public.