💠What Is Arbitrum (ARB) #ARB?

💠Arbitrum (ARB) is a Layer-2 scalability solution for the Ethereum (ETH) blockchain network.

Fundamentally a roll-up technology, #Arbitrum eliminates privacy and scalability issues for #Ethereum smart contracts.

#Arbitrum users can create Ethereum smart contracts, paying lower transaction fees and experiencing less network congestion.

Today, thousands of decentralized applications and more smart contracts run on the #Ethereum network. By its very nature, this leads to congestion and scalability issues in the #Ethereum network. Transaction fees increase, transaction speeds slow down. #Arbitrum, on the other hand, provides solutions to these problems by using roll-up technology.

The platform makes it easy for developers to execute #Ethereum Ethereum Virtual Machine (EVM) contracts and #ETH transactions on Layer-2. That is, it executes #Ethereum operations outside of the #ETH mainnet. However, developers can still take advantage of #Ethereum's excellent Layer-1 security in these transactions. This is made possible by roll-up technology.

#Arbitrum roll-up technology aggregates #Ethereum transactions and executes them on a Layer-2 chain that is more scalable and less cost-effective. 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 with any violations can be detected and invalidated on the Ethereum mainnet.

#Arbitrum has also made a lot of noise with its #ARB token airdrop process.

💠Who Are the Founders of the Arbitrum Project?

#Arbitrum is a project developed by Offchain Labs. The founders of Offchain Labs are: Ed Felten, Steven Goldfeder, Harry Kalodner.

The foundation of #Arbitrum was laid by Ed Felten's research. Prior to Ethereum's advent, Felten began extensive research on roll-up technology in 2014. After serving as Deputy CTO to President Barack Obama in the White House, Felten returned to Princeton University and continued his research with then-doctoral students Steven Goldfeder and Harry Kalodner. Together, the trio created Arbitrum and founded Offchain Labs.

💠ARB Token Statistics

#Arbitrum's governance token #ARB token total supply is 10,000,000,000 ARB. It has been decided that 11.62% of the total supply (1.162 billion tokens) will be airdropped to users. #Arbitrum airdrop has caused a lot of excitement in the cryptocurrency world.

💠What Makes the Arbitrum Project Special?

#Arbitrum provides faster and cheaper transactions on Ethereum, one of the most popular blockchain networks, in a secure manner.

At the same time, Arbitrum provides ease of use to developers. Arbitrum is one of the most EVM-compatible roll-ups.

It allows developers to create smart contracts in all EVM-compatible coding languages.

In the near future, 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.

#ARB token is already considered among the top Layer-2 tokens.

💠How Does Arbitrum Work?

#Arbitrum is based on a technology known as optimistic roll-up. This technology enables smart contracts on ETH to scale by sending messages between Ethereum smart contracts and those on the Arbitrum Layer-2 chain.

In addition, #Arbitrum completes transactions on the Layer-2 chain and then collects their results and saves them on the Ethereum main chain. Since the process of processing transactions is not executed on the Ethereum main chain, transactions can be completed much more quickly.

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