On the Rise of Arbitrum: A Deep Dive into Web3 Technology Infrastructure

04/13/2023 02:06 • NFT Newsflash • 131 views

On April 13th, in the main venue of the “2023 Hong Kong Web3 Carnival” titled “Web3 Technology Infrastructure: Layer 2 Layer 2 Network”, Steven Goldfelder, co-founder and CEO of Orbitrum, introduced its network data, ecology, Orbitrum Nova, and Orbitrum. Steven Goldfelder stated that in the past year, the development of Arbitrum has been very rapid. Currently, the Arbitrum ecosystem has about $6 billion in TVL, accounting for 65% of the market share in the second tier. Currently, 1 million ETHs are locked in the bridge, and the ecological DApp is also thriving. Arbitrum Nova is more suitable for games, social projects, and some DApps with high throughput and performance requirements. The Arbitrum Orbit allows for the construction of its own blockchain using the security of the technology stack and Ethereum, with advantages such as privacy, security, and high performance. I hope to work with developers, users, and community members to promote the development of Arbitrum.

Arbitrum Co founder and CEO: Currently, Arbitrum holds approximately 65% of the L2 market share

Introduction

On April 13th, during the “2023 Hong Kong Web3 Carnival”, Steven Goldfelder (co-founder and CEO of Orbitrum) discussed its network data, ecology, Orbitrum Nova, and Orbitrum. Goldfelder revealed that Arbitrum has experienced exponential growth during the preceding year. As of now, the Arbitrum ecosystem boasts a Total Value Locked (TVL) of $6 billion with a 65% market share in the second tier.

Arbitrum’s Ecosystem

Arbitrum Nova is intended for games, social projects, and some DApps with high throughput and performance requirements. It offers a high level of privacy, security, and performance when compared to Ethereum. Additionally, the Arbitrum Orbit lets developers build their own blockchain while leveraging Ethereum’s security technology stack.

The Power of the Network

The Arbitrum network is designed to accommodate various use cases and has proven to be very useful for numerous DApp projects in various industries. Currently, over 1 million ETHs are locked in the bridge, and the ecological DApp is also thriving.

Working Together to Promote Arbitrum’s Development

Steven Goldfelder concluded with a call to action for developers, users, and community members to work collaboratively to enhance the development of Arbitrum.

FAQs

Q: What is Arbitrum?

Arbitrum is a Layer 2 scaling solution that enables the creation of decentralized applications (DApps) on top of the Ethereum blockchain. It achieves this by granting developers enhanced scalability, privacy, and security for their DApps.

Q: What is the Arbitrum Novum?

The Arbitrum Nova is a Layer 2 solution built specifically for games, social projects, and some DApps that require high throughput and strong performance. It offers confidentiality, security, and high scalability when compared to other solutions.

Q: How does Arbitrum work?

Arbitrum is designed to improve Ethereum’s performance, security, and privacy. It utilizes the Ethereum blockchain security technology stack to offer high-scalability options, enhanced security, and privacy.

Conclusion

As we’ve seen, the Arbitrum ecosystem has grown rapidly while maintaining the highest levels of security, scalability, and performance. With the recent innovations to the network including the Arbitrum Nova and Orbit, Arbitrum has opened up a lot of possibilities for developers, users, and community members to work together to advance the development of the network.

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