What is Arbitrum (ARB)?
Arbitrum is a Layer 2 scaling solution for Ethereum, designed to enhance the scalability and efficiency of the Ethereum network. By utilizing rollups, Arbitrum significantly reduces transaction costs and improves throughput while maintaining the security and decentralization of Ethereum. Arbitrum enables faster and cheaper transactions, making it a critical infrastructure for decentralized applications (dApps).
What Problem Does Arbitrum (ARB) Solve?
Arbitrum addresses several key issues within the Ethereum network:
- Scalability: Increases transaction throughput, allowing Ethereum to handle more transactions per second.
- Cost Efficiency: Reduces gas fees for transactions, making Ethereum more accessible and cost-effective.
- Congestion: Alleviates network congestion by offloading transactions from the Ethereum mainnet to the Arbitrum Layer 2 network.
- Usability: Enhances user experience by providing faster and cheaper transactions for dApp users.
Why Does the Crypto Market Need Arbitrum (ARB)?
Arbitrum benefits the crypto market by:
- Enhanced Performance: Offers a scalable and efficient solution for Ethereum, enabling the development and growth of dApps.
- Cost Reduction: Lowers transaction fees, making blockchain technology more affordable and accessible.
- Improved User Experience: Provides faster transaction times, enhancing the overall user experience for Ethereum users.
- Developer-Friendly: Supports Solidity and Ethereum Virtual Machine (EVM), allowing developers to easily deploy and migrate their dApps to Arbitrum.
History & Achievements
Arbitrum was developed by Offchain Labs, a team of experienced engineers and researchers. Since its launch, Arbitrum has gained significant traction in the Ethereum community, partnering with major projects and integrating with various dApps. It has become one of the leading Layer 2 solutions, contributing to the scalability and usability of the Ethereum network.
Who Created Arbitrum (ARB)?
Arbitrum was created by Offchain Labs, founded by Ed Felten, Steven Goldfeder, and Harry Kalodner. The team comprises experts in computer science and blockchain technology, focused on solving Ethereum's scalability challenges.
What Technology Does Arbitrum (ARB) Use and How Does it Work?
Arbitrum uses:
- Rollups: A technology that aggregates multiple transactions into a single batch, reducing the load on the Ethereum mainnet.
- Optimistic Rollups: Assume transactions are valid by default and only perform computation if a fraud proof is submitted, enhancing efficiency.
- Arbitrum Virtual Machine (AVM): A custom virtual machine compatible with the Ethereum Virtual Machine (EVM), allowing seamless dApp deployment.
What Affects Arbitrum (ARB) Price?
Factors influencing ARB price:
- Market Sentiment: News and developments within the blockchain and crypto space.
- Network Adoption: Increased usage and integration with dApps and projects.
- Technological Advancements: Improvements and upgrades to the Arbitrum network.
- Regulatory Changes: Cryptocurrency regulations and legal developments.
Circulating Supply, Total Supply, and Max Supply
- Circulating Supply: 3,339,278,542 ARB
- Total Supply: 10,000,000,000 ARB
- Max Supply: 10,000,000,000 ARB
All-Time High and All-Time Low for Arbitrum (ARB)
- All-Time High: $2.39 (70.7% down from ATH on Jan 12, 2024)
- All-Time Low: $0.5812 (20.6% up from ATL on Jul 05, 2024)
Where to Buy Arbitrum (ARB)?
ARB tokens can be purchased on various major cryptocurrency exchanges, including:
- Binance
- Coinbase
- Kraken
- Gemini
- FTX
Who Invested in Arbitrum (ARB) at an Early Stage?
Arbitrum has attracted investments from notable venture capital firms and investors in the blockchain space. Early backers include firms such as Lightspeed Venture Partners, Pantera Capital, and Alameda Research.
What Are the Revenue Streams of Arbitrum (ARB)?
Arbitrum’s revenue streams include:
- Transaction Fees: Fees collected from transactions processed on the Arbitrum network.
- Partnerships and Integrations: Revenue from collaborations with other blockchain projects and dApps.
- Ecosystem Growth: Incentives and rewards for network participants, including validators and developers.
