Arbitrum, a popular Layer 2 network, goes online for 2 weeks: Taking stock of ecological progress

Arbitrum the beta version of Arbitrum One main network open to all users in only two weeks time, the Ethernet Square Layer (Layer 2) network expansion has attracted over $ 2.2 billion worth of assets encryption on the chain, the total Layer 2 plate TVL 73.75 %.

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As the second-tier expansion network of Ethereum, Arbitrum is fully compatible with the Ethereum virtual machine EVM. It is developed by Offchain Labs and adopts Optimistic Rollups technology to improve the scalability, speed, and privacy of on-chain contracts.

The use of this network requires the use of the Arbitrum asset bridge on a supported wallet to transfer assets under the Ethereum standard to the Arbitrum chain. It should be noted that once a user’s assets enter Arbitrum through the asset bridge, they need to wait at least 7 days to return to Ethereum, which is determined by the underlying technology of the chain.

According to the Arbiscan.io browser, as of September 12, the number of daily transactions on the Arbitrum chain was 267,608; the number of unique addresses was 70,367. The data shows that compared with Ethereum L1, the average gas fee for token exchange on Arbitrum is reduced by 9 times.

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The cost of token exchange on Ethereum and several major L2 networks. Image source : l2fees.info

This article will introduce the current projects that Arbitrum has integrated and the projects that will be deployed.

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Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/arbitrum-a-popular-layer-2-network-goes-online-for-2-weeks-taking-stock-of-ecological-progress/
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