Arbitrum, an Ethereum Layer-2 (L2) scaling solution, announced
it would launch its mainnet for users this August. The tool, which
allows Ethereum users to transact with very low fees, had launched in
beta version last June, with support from some key projects in the
Ethereum sphere, like Uniswap, who received a community vote to
integrate it. The project will also launch Arbitrum One, which will have
up-to-date information about the projects using its network.
Arbitrum To Launch This August
Arbitrum, the Ethereum L2 rollup, has announced it will launch
in mainnet beta this month, opening its service to regular users who
want to issue projects using the scaling solution. Till now, Arbitrum
had been operating in a sort of a sandbox, with more than 250 projects
applying to build using the Optimistic rollup tech. Arbitrum will allow users to transact almost instantly with negligible fees, aiming to massify adoption.
Offchain Labs, the company behind the Arbitrum project, states that
determining the launch of its rollup was very difficult, having to
coordinate the launch and deployment with several projects, including
stablecoin companies in the process. It stated:
When deciding when to launch, we had to weigh many
factors. We’ve been hard at work over the last few months coordinating
deployments with hundreds of projects and bridging many of the most
popular stablecoins and tokens onto Arbitrum.
However, it won’t be launched at its full capacity just yet. Offchain
Labs stated that, while the network will be available for all users,
they will put “initial limits on the volume of activity,” committing to
raise these limits over time as their solution matures.
Optimistic Rollups
Technically, Arbitrum is a rollup, a kind
of second layer expansion structure that, while executes its operations
outside of Ethereum’s L1 network, posts information to it as proof of
these operations. Arbitrum is one of the first Optimistic commercial
rollup solutions. This means the network assumes operations are always
honest and does not do any computation to prove this is right. When a
possibly fraudulent operation is conducted, there are protection
mechanisms in place to punish the issuer.
Arbitrum was selected
by Reddit to place its community points system recently. However, it is
not the only optimistic rollup solution in development. Optimism,
another similar L2 rollup, is also currently in testing phases. Uniswap
has also launched an integration with Optimism, allowing users to
transact their funds through a gateway on its site.
Arbitrum also faces competition from the scaling solution Polygon (MATIC). While Polygon is more of a sidechain solution, both Arbitrum and Optimism leverage Optimistic rollups.
source link :https://news.bitcoin.com/ethereum-layer-2-scaling-solution-arbitrum-to-launch-this-month/
