What Is Arbitrum? Information About ARB Token

Arbitrum is a layer 2 scaling solution built to address Ethereum's congestion issues by increasing its transaction throughput. But, what is Arbitrum? And is investing in the ARB Token worthwhile? Let's dive in and find out!

What Is Arbitrum Information About Arb Token

What is Arbitrum?

Arbitrum is a layer 2 solution designed to scale Ethereum to solve congestion problems on Ethereum. Arbitrum uses Optimistic Rollups technology to improve speed and cost efficiency on Ethereum.

Arbitrum foundation

Arbitrum is developed by Offchain Labs, which is a blockchain research and development company founded in 2018. Offchain Labs was developed by Ed Felten, Steven Goldfeder and Harry Kalodner. The company first proposed this solution through a presentation at Princeton University in 2018.

Optimistic Rollups technology

Optimistic Rollups is a method of processing off-chain transactions. Optimistic Rollups takes transactions created on the main blockchain externally and processes them on separate Rollups. Then the data and transactions are processed. And will be rolled into a single merge to send to Layer 1 to verify the integration is valid. The department to verify these transactions is fraud froof. This method helps improve scalability, increasing the number of transactions processed across the Ethereum network.

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Optimistic Rollups

Also using Optimistic Rollups technology are other top projects such as: Optimism, Metis, …

Arbitrum products

AnyTrust

AnyTrust is a variant of Arbitrum Nitro technology that reduces cost and speed by adopting reliability assumptions.

Anytrust

Instead, AnyTrust relies on an external Data Trust to store and provide data on request. The committee has N members, AnyTrust requires at least 2 members to be honest. This ensures data will be available so the aggregation protocol can function correctly.

Arbitrum Nova

Focus on reducing transaction costs for dApps with high transaction throughput. Aimed at serving high volume applications such as gaming or social.

Arbitrum Stylus

On August 31, Offchain Labs officially announced the release of the Arbitrum Stylus public testnet and code. Stylus allows developers to build decentralized applications (dApps) on Arbitrum One and Arbitrum Nova using many different programming languages such as Rust, C, C++, … This is considered an upgrade of Arbitrum Nitro.

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Arbitrum Stylus

Stylus offers the following features:

  • Allows writing smart contracts in programming languages such as Rust, C into WASM language. This makes it easier for many developers to build smart contracts.

  • Smart contracts on Stylus benefit from EVM equivalence over a second WASM, called EVM+. EVM+ inherits the full benefits of the Ethereum ecosystem and the liquidity of EVM.

  • Solidity contracts and Stylus contracts are interoperable. For example, if a developer is using Rust, they can import the Solidity interface and vice versa.

  • When using Stylus, memory is consumed 100-500 times less than with Solidity contracts. This makes RAM usage possible on the blockchain.

According to the company’s estimates, after Stylus launches, it can attract more than 3 million developers. These developers use Rust and C into Ethereum’s smart contract ecosystem. Among them are about 20 thousand Solidity developers.

Related: What is AZCoiner?

Arbitrum Orbit

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Interface of Arbitrum Orbit

Arbitrum Orbit is a Layer 3 vision-based product developed by Offchain Labs. Since its launch, Arbitrum Orbit has attracted a lot of positive attention such as:

  • June 15, 2023: Offchain Labs announced the first name to start Arbitrum Orbit, which is Xai – a Blockchain targeting the Game field. Xai will be built on Arbitrum’s Layer 3 to take full advantage of scalability.

  • June 22, 2023: Offchain Labs introduced a set of framework tools to help developers easily build Layer 3 platforms on Arbitrum Nitro.

  • September 5, 2023: Caldera – a Rollup As a Service platform announced its participation in the Arbitrum Orbit ecosystem with 3 new projects, including Sanko GameCorp – a project in the Game field, Syndr – a project about Derivatives and Volatilis.

  • September 30, 2023: Arbitrum Orbit prepares to launch mainnet

These events mark important steps in Arbitrum Orbit’s journey and demonstrate Offchain Labs’ commitment to building a diverse and scalable network ecosystem.

Highlights of the Arbitrum project

The Arbitrum project is a notable Layer 2 solution on the Ethereum network with the following highlights:

  • High EVM compatibility: Arbitrum helps developers easily transition from developing on mainstream Ethereum to building on the platform without having to learn a new programming language.

  • Strong support for developers: With Arbitrum’s development team, you are never alone in building a Layer 2 solution. They provide comprehensive development documentation and enthusiastic support to ensure you have everything you need.

  • Thriving ecosystem: With more than 600 decentralized applications (dApps) in beta, Arbitrum has created a thriving ecosystem. This brings many opportunities and options to users.

  • Low transaction costs and fast processing speed: Arbitrum uses Rollups technology, which helps reduce transaction costs and improve processing speed. This means users can transact quickly with lower fees.

With Arbitrum, you have a strong option to participate in the Ethereum ecosystem and take advantage of the benefits of this advanced Layer 2 network.

What is ARB Token

ARB Token Key Metric

  • Token Name: Arbitrum

  • Ticker: ARB

  • Blockchain: Arbitrum

  • Token Contract: 0x912CE59144191C1204E64559FE8253a0e49E6548

  • Token Type: Utility, Governance

  • Total Supply: 10,000,000,000 ARB

  • Circulating Supply: 1,250,000,000 ARB

ARB Token Use Cases

ARB will have the following main functions:

  • Arbitrum DAO governance token

  • Support development projects on the ecosystem

But in general, the ARB token does not have much utility

ARB Token Allocation

ARB is allocated proportionally as follows:

  • ARB DAO treasury: 42,8%

  • Team, future + Advisors: 26.9%

  • Investor: 17.5%

  • Individual Wallets: 11.6%

  • Daos in Arb Ecosystem: 1.1%

ARB Token Release Schedule

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