The live price of Arbitrum is - per (ARB / USD) with a current market cap of $1.89B USD. 24-hour trading volume is - USD. ARB to USD price is updated in real-time. Arbitrum is -% in the last 24 hours with a circulating supply of 4.86B.
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Arbitrum is a Layer 2 blockchain for Ethereum that uses optimistic rollups. The Arbitrum blockchain uses rollups to combine multiple transactions into one to reduce on-chain transaction costs and improve scalability. As a result, Arbitrum is able to achieve a throughput of up to 40,000 transactions per second at a much lower mining fee than the Ethereum mainnet.
Arbitrum is a Layer-2 scaling solution designed to address the congestion issues facing the Ethereum network. Developed by New York-based Offchain Labs, Arbitrum focuses on improving the verification of smart contracts. Doing so can increase transaction throughput while maintaining the security of the Ethereum mainnet.
The platform achieves this using a technology called "transaction aggregation." Essentially, transaction aggregation involves bundling transactions and records and verifying them in the Layer-2 network before moving the data to the Layer-1 mainnet. Ethereum is used as an example here. This process reduces mainnet congestion by shifting some of the computational load to the Layer-2 network.
Arbitrum compensates nodes called "aggregators" that actively validate smart contracts running on the Arbitrum chain. These nodes are rewarded in the form of ETH and are responsible for adding blocks to the Ethereum mainnet.
The Arbitrum Foundation recently processed a $1 billion AIP-1 proposal, which was criticized due to concerns about transparency and community input. The purpose of the AIP-1 proposal was to distribute ARB tokens to wallets controlled by the foundation and distributed to developers, users, and investors. However, concerns about centralization and decision-making issues have prompted calls for greater transparency and community involvement in Arbitrum governance.
Arbitrum was created by Offchain Labs, a development company based in New York. Offchain Labs founders Ed Felten, Steven Goldfeder, and Harry Kalodner are all former researchers at Princeton University with expertise in computer science, cryptography, and blockchain technology.
ARB is an important part of the Arbitrum ecosystem and has multiple functions, such as protecting network security, incentivizing users and developers, and supporting efficient transactions. ARB's utility includes:
ARB secures the Arbitrum network through staking, as validators must hold tokens to maintain the integrity of the platform, thereby discouraging malicious behavior.
The token incentivizes users and developers by rewarding validators for their work, while allowing users to earn ARB by participating in Arbitrum ecosystem activities.
Compared to Ethereum, ARB facilitates transactions with lower fees and faster speeds, improving user experience, especially for DeFi applications.
The Arbitrum decentralized cryptocurrency platform has been controlled by Offchain Labs since its launch in 2021. In order to transfer control of the platform to the community, the native governance token ARB came into being. The Arbitrum Foundation issued ARB tokens through an airdrop on March 23, 2023, and the tokens of investors and the team will have a 4-year lock-up period. However, 2.7 billion tokens will still be transferred after the lock-up period, which has aroused strong opposition from the community and concerns about platform governance.
The total supply of ARB tokens is capped at 10 billion. Token distribution is divided into the following proportions: ArbitrumDAO Treasury: 42.78% (4.278 billion)
Offchain Labs team and advisors: 26.94% (2.694 billion)
Investors: 17.53% (1.753 billion)
Airdrop to users: 11.62% (1.162 billion)
Airdrop to decentralized autonomous organizations: 1.13% (113 million)
Arbitrum stands out from the crowd of Ethereum scaling solutions due to its optimistic rollup. The platform claims to have several advantages over competing rollup solutions, including:
1. Compatibility: Arbitrum supports unmodified Ethereum Virtual Machine (EVM) contracts and transactions. That is, any existing Ethereum DApp can run on Arbitrum without changing the code.
2. Scalability: Arbitrum can process thousands of transactions per second, with low fees and fast confirmation speed, while maintaining the security provided by Ethereum.
3. Flexibility: Developers can use Arbitrum's upcoming EVM+ equivalent feature Stylus to deploy programs written in popular programming languages such as Rust and C++.
4. Decentralization: Unlike some other solutions, Arbitrum does not rely on centralized operators or sequencers to sort transactions. Instead, Arbitrum uses a decentralized network where validators earn fees by staking ARB tokens and ensuring network security.
The Arbitrum to other currencies exchange rate?
