Arbitrum is a Layer 2 scaling solution for Ethereum, and the ARB token is a cryptocurrency associated with the network, facilitating transactions and providing incentives for validators.
Arbitrum is a Layer 2 scaling solution for Ethereum, developed by Offchain Labs. It aims to enhance Ethereum's scalability and reduce transaction fees by enabling faster and more cost-efficient smart contract execution through its Optimistic Rollup technology.
Arbitrum was founded in 2018 by Ed Felten, Steven Goldfeder, and Harry Kalodner, Offchain Labs created Arbitrum to address Ethereum's scalability challenges. In 2020, Offchain Labs raised funding for the Arbitrum project. In May 2021, Arbitrum launched its mainnet beta, allowing developers to deploy and test decentralized applications on its Layer 2 solution. This marked a significant milestone for Ethereum's scalability efforts.
By September 2021, Arbitrum's mainnet beta had attracted attention from various DeFi projects and users seeking to leverage its scalability benefits. Its technology demonstrated promising potential for alleviating congestion and high gas fees on the Ethereum network. For the most current advancements, refer to the official Offchain Labs website and recent news sources.
Above are only for introduction, not intended as investment advice.