Key Takeaways
Arbitrum has launched a second Ethereum Layer 2 chain known as Arbitrum Nova.
Arbitrum developer Offchain Labs has mentioned that the brand new chain is optimized for low-cost and high-transaction quantity use circumstances like gaming and social initiatives.
The developer has additionally partnered with Reddit to onboard its group factors system to Ethereum.
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The new chain, Arbitrum Nova, is optimized for cost-sensitive and excessive transaction quantity use circumstances like on-chain gaming and social initiatives.
Arbitrum Nova Goes Live
Arbitrum has launched a brand new gaming-optimized blockchain and partnered with Reddit to assist it transfer its group factors system to Ethereum.
The Layer 2 mission’s developer Offchain Labs introduced the updates in a Tuesday press launch. Arbitrum Nova, as the brand new community is understood, is now dwell for all end-users following a personal July launch for builders. While Offchain Labs’ first chain, Arbitrum One, is designed for extra frequent DeFi use circumstances, Abitrum Nova is optimized for cost-sensitive and excessive transaction quantity eventualities. Per the press launch, Arbitrum Nova is designed to turn into “the premier solution for Web3 gaming and social applications.”
According to a July weblog submit from Offchain Labs, Arbitrum Nova is a wholly new chain, fully totally different from Arbitrum One. It’s constructed on high of the agency’s proprietary AnyTrust know-how and leverages a “data availability committee” to certify and validate transaction batches earlier than broadcasting them on Ethereum mainnet. “Rather than posting all data to the Ethereum network, the committee certifies and validates batches of transactions and only posts the certifications to Ethereum, resulting in significant cost savings for users,” Offchain Labs defined in at present’s announcement. The agency claims that its AnyTrust know-how delivers a lot stronger safety ensures than different excessive throughput or low-cost blockchains.
Commenting on the launch, Offchain Labs co-founder and CEO Steven Goldfeder mentioned that the brand new chain marked a “major milestone” of the Arbitrum ecosystem and that its ultra-low-cost transaction charges would open totally new potentialities for builders. “We look forward to continually optimizing and improving Nova to drive costs down even further,” he added.
Complementing the launch, Offchain Labs additionally introduced at present that it had partnered with the world’s largest on-line discussion board, Reddit, to maneuver its group factors system to Ethereum. The initiative marks the primary main deployment on the Arbitrum Nova chain.
Arbitrum is certainly one of a number of Layer 2 initiatives working to scale Ethereum. It leverages Optimistic Rollup know-how to extend throughput and course of transactions off the bottom chain. Arbitrum One launched final 12 months and is at the moment the ecosystem’s main Layer 2 community. According to L2Beat knowledge, it holds about $2.72 billion in worth locked.
Disclosure: At the time of writing, the creator of this text owned ETH and several other different cryptocurrencies.
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