Source: ARBUSDT Chart by TradingView
Arbitrum is a type of technology known as an optimistic rollup. This technology allows smart contracts from Ethereum to scale by sending messages between smart contracts and those in the Arbitrum second chain layer.
Arbitrum is an Ethereum layer-two (L2) scaling solution. It uses optimistic rollups to achieve its goal of improving speed, scalability and cost-efficiency on Ethereum. Arbitrum benefits from the security and compatibility of Ethereum. Another benefit is the higher throughput and lower fees compared to Ethereum. That is made possible thanks to moving most of the computation and storage load off-chain.
Arbitrum’s native token is called ARB and is used for governance. Offchain Labs, the developers behind Arbitrum, announced the shift to a decentralized autonomous organization (DAO) structure — the Arbitrum DAO. ARB holders can vote on proposals that affect the features, protocol upgrades, funds allocation and election of a Security Council.
Arbitrum has an ambitious roadmap for 2023, which includes: Launching its own layer-three solution called Orbit; Enabling developers to deploy programs written in popular programming languages like Rust, C++, and more using Stylus; Expanding its validator set to include more independent institutional validators; Moving its protocol to layer two with Arbitrum One.
On March 16, 2023, Arbitrum announced their highly anticipated airdrop of ARB. The token will be airdropped to early users and DAOs building on Arbitrum, with 12.75% of the total supply to be distributed. Recipients were rewarded on a point-based system depending on their interaction with the Arbitrum network until a cutoff date of March 1, 2023. The token generation event is on March 23, 2023.
Airdrop claims help Arbitrum process twice Ethereum’s transaction in 24 hours
According to L2 Beats data, the he total value of assets locked (TVL) on Arbitrum has increased to $5.95 billion — up 62%.
Over 300M Arbitrum ARB tokens claimed; price plunges 90%
Nansen's dashboard shows that more than 160,000 addresses have claimed over 300 million ARB tokens as of press time.
Arcade fighting game Battle of Olympus to launch presale for GODLY token on Arbitrum on March 27
London, United Kingdom, 22nd March, 2023, Chainwire — Battle of Olympus, an arcade street fighting game, is set to launch the first phase of its presale for its in-game currency $GODLY on Arbitrum on Monday, March 27.
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