Arbitrum (ARB) - Coin of the Week
Arbitrum is a blockchain project that aims to improve speed and scalability on the Ethereum network. Arbitrum benefits from Ethereum security and compatibility. Another benefit is the higher throughput and lower fees compared to Ethereum, made possible by moving most of the computing load off the blockchain.
Arbitrum's native token is called ARB and is used for governance. Offchain Labs, the developers behind Arbitrum, made the transition to a decentralized autonomous organization (DAO) structure in March 2023 alongside the launch of ARB as a governance token and an AIRDROP specific to the crypto industry.
History of Arbitrum
The Arbitrum project was founded in 2018 by Offchain Labs, a team of developers with experience in the blockchain field. The team set out to address the scalability issues of Ethereum and other blockchains by developing an innovative solution called Optimistic Rollup. Arbitrum was launched in May 2021 and quickly gained popularity due to its fast, low-cost transactions.
How does Arbitrum work?
Arbitrum uses an innovative technology called Optimistic Rollup to process transactions outside the blockchain and send them to the Ethereum network. When a user initiates a transaction in the Arbitrum network, it is first processed by a validator, who verifies its correctness. The validator then sends the transaction to Arbitrum, which aggregates several transactions into a single batch that it then sends to the Ethereum network.
Once a lot is included in a block on the Ethereum network, the Arbitrum contract verifies the correctness of the grouped transactions and accordingly updates the state of the Arbitrum network. Smart contracts ensure that the execution of the transaction on Arbitrum is consistent with the execution on Ethereum, offering a high degree of security.
Users can interact with the Arbitrum network using Ethereum compatible wallets and dApps. The interoperability between Ethereum and Arbitrum allows the easy migration of Ethereum applications and the smooth transfer of assets between the two networks.
Arbitrum Use-Cases
DeFi
Gaming
Supply chain management
For more information on ARB, go to the Arbitrum Price (ARB) page.
Arbitrum Advantages
Scalability
Interoperability
Security
For more information on ARB, go to the Arbitrum Price (ARB) page.
Arbitrum in 2023
Arbitrum enjoys high popularity due to the transition to DAO and due to the recent AirDrop, which made ARB an extremely popular token in Q1 2023. The platform recently surpassed Ethereum in terms of the total number of transactions processed and holds a significant market share on Ethereum.
The Arbitrum team will focus on improving scalability and performance to meet the growing demand from users and developers. Additionally, with the growing popularity of the project, Arbitrum can focus on expanding its ecosystem and encouraging more projects and developers to build on the platform.
Financial Indicators
Market Cap: 1.8 billion EURO
Arbitrum price: 1.3 EURO
Trading Volume Arbitrum (24 ore): 3.2 billion EURO
Arbitrum community
Latest Arbitrum news
Over 42 million ARB units were claimed in the first hour, after the long-awaited Arbitrum Airdrop went live on March 23. Approximately 23,000 individual wallets claimed the airdrop, representing 3% of all eligible wallets.
Our team recently added support for the Arbitrum One Network, which will make it easier for users to collect and withdraw ARB directly on the native Arbitrum network.
How to buy Arbitrum
On Tradesilvania you can buy and sell Arbitrum or other types of cryptocurrencies, such as Ethereum (ETH) and Solana (SOL).