LOGO_CRYPTO_SIGHT

Ether-focused Layer 2 Network Arbitrum Rolled Out In Beta Version Amid Market Anticipation

By Shannon Wilson | May 31, 2021

Amid the scaling solutions scene made up of mostly sidechains and EMV-enabled competitors, Offchain Labs reportedly disclosed details of the Ether-focused layer 2 sidechain Abritrum One. 

Specifically, the beta version of Arbitrum One has reportedly been officially available across Ethereum, although teams that have a desire to take part in and design implementations with the rollup tech are required to finalize the application to gain access. 

“Introducing Arbitrum One, our mainnet beta: live on Ethereum and open to developers now! https://t.co/3Jca2dZw0D — Arbitrum (@arbitrum) May 29, 2021”

The market has reportedly been anticipated for a true layer 2 scaling option, and per the team, demands for the rollout of Arbitrum has been high. 

“The developer interest and enthusiasm for Arbitrum has exceeded our wildest expectations. Over 250 teams have requested access for our developer launch, and we can’t wait to see what they build on Arbitrum and how much gas savings this will enable.”

Arbitrum reportedly functions via batching, or rolling up transactions on a gasless sidechain with a separate, more efficient set of security and consensus guarantees, then submitting the reporting of batched transactions to the Ethereum chain.

The release has additionally brought about numerous complex governance decisions. Regardless of the initial commitment to choose Optimism as a layer 2, a proposal on Uniswap’s governance forums to study an Arbitrum implementation has proven to be highly popular. 

“We’ve begun doing a series of announcements with Arbitrum ecosystem partners, and stay tuned for many more in the coming days. It’s an exciting period ahead, and we’re working hard to make sure that all of your favorite apps and infrastructure will be live and ready when we open Arbitrum One to all users.” The Arbitrum team further claimed.

Tags: , ,

Related Articles

Comments