Arbitrum is built by Offchain Labs, which consists of world-class blockchain engineers, researchers, and Ethereum experts. Arbitrum One main net launched on the 31st of August 2021.
Arbitrum serves as Ethereum's next-generation layer-2.
The layer-2 solution facilitates transactions through off-chain means before bundling and submitting them as a single transaction to the base layer, thus supporting Ethereum scaling. As a result, layer-1 Ethereum transactions will not be slowed down by many transaction requests.
Arbitrum is an Optimistic Rollup solution. Optimistic rollups are smart contracts that bundle transactions, reducing computation time and gas consumption. By utilizing Optimistic Rollups, Arbitrum can ensure inexpensive gas fees while relying on Ethereum's L1 security.
Arbitrum successfully migrated the existing Arbitrum One network to Arbitrum Nitro on the 31st of August, 2022.
On March 23, Arbitrum distributed its highly-anticipated $ARB governance token.
As with any other chain, Arbitrum has a similar onboarding process. Adding support for Arbitrum to your wallet is all you need to do, and then you can transfer funds to the network through one of the bridges that offer Arbitrum transfer support or send funds from a centralized exchange.
Now that we've covered Arbitrum let's learn how to: