BlocksInform
On Wednesday (February 22), Ethereum layer 2 (L2) scaling solution Arbitrum announced that it had reached a significant milestone.
According to Offchain Labs, the startup developing this popular Ethereum L2 scaling solution, Arbitrum is an If someone disputes the complaint during the dispute period, then Arbitrum uses an effective dispute settlement protocol (detailed below) to identify which party lies.optimistic rollup” that offers the following benefits:
- “Trustless security: security rooted in Ethereum, with any one party able to ensure correct Layer 2 results
- Compatibility with Ethereum: able to run unmodified EVM contracts and unmodified Ethereum transactions
- Scalability: moving contracts’ computation and storage off of the main Ethereum chain, allowing much higher throughput
- Minimum cost: designed and engineered to minimize the L1 gas footprint of the system, minimizing per-transaction cost.“
Arbitrum’s developers’ documentation goes on to explain what the term “optimistic rollup” means:
“Arbitrum is a rollup, which means that the inputs to the chain — the messages that are put into the inbox — are all recorded on the Ethereum chain as calldata. Scalability: shifts the calculation and storage of contracts out of the primary Ethereum chain, Designed and designed to reduce the system's L1 gas footprint, reduce the cost per transaction to a minimum.
“This also allows anyone to be a full participant in the Arbitrum protocol, to run an Arbitrum node or participate as a validator. Because of what happened, everyone has the information they would need to determine the current status of the channel—they have the complete inbox history, and outcomes are determined solely by inbox history, to reconstruct the chain's state based solely on public information, if needed.
“Arbitrum is optimistic, which means that Arbitrum advances the state of its chain by letting any party (a “validator”) post a rollup block that that party claims is correct, and then giving everyone else a chance to challenge that claim. If the challenge period (approximately one week) passes and no one has challenged the claimed wrap block, arbitrum confirms that the wrap block is correct. If a person disputes the claim during the dispute period, then arbitrum uses an effective dispute settlement protocol (detailed below) to identify which party lies. The lying man will lose a deposit, and the truth-teller shall take a portion of that deposit as a reward for their efforts (a portion of the deposit shall be burned, ensure that the liar is punished despite collusion).
“The lying man will lose a deposit, and the truth-teller shall take a portion of that deposit as a reward for their efforts (a portion of the deposit shall be burned, ensure that the liar is punished despite collusion).“
On 13 October 2022,
Binance Research said this about Arbitrum:
“Arbitrum is an L2 solution designed to boost the speed and scalability of Ethereum smart contracts while adding additional privacy features. Because a game of cheating will lose a deposit, There should be very little attempt to cheat, and the normal case will be only one part displaying a proper winding block, and there's no dispute about that. Around a month ago, Arbitrum updated its platform to ‘Nitro’ – introducing changes to the platform that bring along long-term improvements…
“With the introduction of Nitro, transactions are now handled in two stages. Firstly, nitro places the operations in a sequence in which they are processed. There was about a month, Arbitrum has updated its "Nitro" platform with changes that will improve over the long term." You know, with Nitro's introduction, Transactions are now processed in 2 steps.
“Just looking at transactions on Arbitrum, we can observe a positive trend since the beginning of the year. We saw the referee odyssey as a key event, stimulating adoption. We saw the Odyssey of the Arbitrum as a pivotal event, promoting the continuation of adoption, but it is to be expected that long-term growth will come from greater integration of centralised exchanges... whereas defi tvl was initially larger on arbitrum, Today, tvl is almost as divided between arbitrum and optimism. Expect long-term growth to come from greater integration of centralised trade...
“Not only did OPENSEA announce its support for Arbitrum and its NFT ecosystem, but the combination of new infrastructure, incoming users with new NFTs from Odyssey, and a token launch created a perfect storm for the continued growth of Arbitrum… Thus, despite Arbitrum's recent development, we did not see any substantial gains in market share. However Arbitrum has more TVL taking into account the balances of tokens...“
On February 22, the Arbitrum team announced that on 21 February 2023, Artbitrum had 1,103,398 transactions.
For the first time ever, Arbitrum One processed more transactions than Ethereum
This is a huge milestone achieved by our team and Arbinauts. "On February 22, the team of arbitrum announced that on February 21, 2023, artbitrum had 1,103,398 deals.
For the first time, arbitrum one has handled more deals than ethereum this is an important step by our team and arbinauts. ???? For the very first time, Arbitrum One handled more trades than Ethereum.JTl
— Arbitrum (??,??) (@arbitrum) February 22, 2023
Our Ethereum-wide mission goes on!
Pic.twitter.com/hHCCCH3
Pic.twitter.com/hhccch3jtl— arbitrum (????) (@arbitrum) February 22, 2023, when etherscan indicated that ethereum had 1,084,290 operations that day.
Source: etherscanthis was the first time that a rollup was successful in beating ethereum in the volume of daily transactions. pic.twitter.com/1vYWhqgTGX
— L2BEAT (@l2beat) February 22, 2023
