Arbitrum is a fast, privacy-focused and scalable layer 2 solution designed to enhance the capabilities of Ethereum smart contracts.
Ethereum is one of the most sought after networks for developing decentralized applications. However, the recent growth in transaction volume has caused slowdowns and scalability problems in the Ethereum network. However, there were significant increases in transaction fees. Developed to address some scalability issues such as high transaction fees, Arbitrum aims to address existing problems that harm the Ethereum user experience and drive up the cost of transacting. The Arbitrum network was developed by the team at Offchain Labs, headquartered in New York. This service, known as Arbitrum, attracts attention because it brings solutions to the problem.
The Arbitrum network leverages Ethereum’s layer 1 security while easily running Ethereum transactions and smart contracts in a second layer.
How Does Arbitrum Work?
Arbitrum uses a technology known as optimistic rollup. It means that transactions made through Arbitrum will be instantly valid and correct. Optimistic rollup improves scalability by flowing data between smart contracts on the Ethereum chain and smart contracts on the Arbitrum second layer chain. Most transactions are completed in the second layer and results are recorded on the main chain. This increases speed and efficiency significantly.
The term optimistic means that any validator can send aggregated blocks and confirm other blocks. The term rollup is used to describe how explicit information can be used on the optimized event log. Optimistic Rollups at Arbitrum are set up as a tailor-made sidechain solution. The transaction data is then transferred to the Ethereum blockchain. After this process takes place, the Arbitrum network ensures that the code works correctly and precautions are taken against collusion.
What Makes Arbitrum Unique?
If we talk about the features that make the Arbitrum contract different, this project is designed to create an easy-to-access platform. Arbitrum is recognized as one of the most EVM compatible Rollup options. Therefore, any language compatible with EVM can work directly. The fact that there is no obligation to learn a new language simplifies the process of producing software on Arbitrum. Compared to the Ethereum network, it charges much lower due to its high Rollup technology. The team that developed the Arbitrum network is working to keep any obstacles to a minimum in order to develop its own second layer project. Development processes can be started immediately by creating detailed developer documents and using existing tools on Ethereum.
