On September 16, the annual "FAT Awards 2024" ceremony was grandly opened at the Conrad Hotel Singapore.
"FAT" is a ranking ceremony + summit forum brand founded by Odaily Planet Daily in 2020, which aims to reward the leaders and innovators of Web3 and the crypto industry, and focus on value paradigms and consensus moments. In 2024, when the crypto industry is changing with each passing day and narratives are recognized by the mainstream world, fresh narratives are surging, the ecology is flourishing, and high-quality projects are launched one after another, Odaily Planet Daily will once again start the FAT ranking selection and hold an offline ceremony.
At the event, Offchain Labs Co-Founder and CEO Steven Goldfelder gave a speech on the theme of "Only on Arbitrum".
The following is the full text of Steven Goldfelder's live speech, compiled and simplified by Odaily Planet Daily, enjoy~
Good afternoon everyone, thank you host, and thank you for the invitation. There are currently many Layer 2 or Layer 3 chains built based on different technology stacks. Today I would like to discuss what makes the Arbitrum network unique.
Arbitrum was officially launched in 2018. In fact, the concept of Arbitrum can be traced back to ten years ago, when the idea of building a Layer 2 EVM blockchain was a very cutting-edge idea. Today, Arbitrum has become an innovative pioneer in this field, and this approach has been widely adopted. In the past few years, the team has continuously pushed the forefront of technology and always maintained its leading position in innovation.
Arbitrum is making some disruptive innovations, such as Stylus, which supports multi-VM development. Stylus supports WASM language development such as Rust, C and C++; this will allow any Arbitrum chain with Stylus to support EVM and WASM VM with full interoperability between the two.
To attract the next billion users, we first need to attract the next million developers. In terms of developer distribution, there are currently about 20,000 Solidity developers, 3 million Rust developers, and 12 million C++ developers. Looking at the broader picture, the size of the blockchain community is actually quite limited, especially the size of EVM, which is even smaller. The next million developers are the technicians who use these languages.
Today, Arbitrum's technology stack is unique. Although many developers are still unfamiliar with EVM, with Stylus, developers can easily use Stylus to deploy existing code to the chain without having to learn EVM in depth. For example, for cryptographic libraries, users can use Stylus to directly put ready-made libraries on the chain without spending years rewriting them.
The emergence of Stylus allows cryptographic technology to run directly on the chain with extremely high performance, which is a unique feature of EVM on Arbitrum. Stylus can improve the performance of on-chain code by 10 times. Stylus not only makes the development experience excellent, but also brings huge scalability, which ultimately benefits users.
Arbitrum excels in both developer and user experience, with extremely fast block generation speeds of up to 100 milliseconds. As the ecosystem continues to expand, users in both DeFi and gaming fields have extremely high requirements for speed, and the Arbitrum network can fully meet this demand and provide user experience.
In addition, Arbitrum's adoption rate is also very high. On-chain data shows that Arbitrum TVL exceeds $13 billion, and more than 18 million addresses have interacted with Arbitrum. At the same time, Arbitrum also has an extremely large native application ecosystem, especially in the gaming field. Finally, it is worth mentioning that Arbitrum has a stablecoin market value of more than $4.7 billion, which is higher than other Layer 2 and many Layer 1 chains.
Arbitrum is also a decentralized project that gives ArbitrumDAO tremendous power, and all decisions are made by voters on the chain. Compared with other ecosystems, ArbitrumDAO gives users more say, and Stylus is a typical example, where users can create the technology they want.
Arbitrum Orbit is also the most customizable technology stack, and users can customize anything according to their needs. For example, if a user wants to create a USDC, you can do it in the Arbitrum ecosystem. Currently, there are more than 60 projects in the Arbitrum Orbit ecosystem, such as AnimeChain, ApeChain, etc.
Next, the specific efforts of the technical blueprint designed by Offchain Labs for Arbitrum include: Stylus supporting multiple VMs (launched on the mainnet on September 3), BoLD for truly decentralized proof, node performance upgrades, Timeboost for capturing MEV revenue, decentralized sorting, and decentralized ZK consensus. Of course, Arbitrum's future technical routes will also be decided by everyone voting on ArbitrumDAO.
Arbitrum continues to innovate at an accelerated pace, and as one of the most innovative chains supporting the EVM, it is even more unique with the addition of Stylus. Arbitrum will continue to lead the way in technology and community innovation. Its main advantage is the flexibility of users to choose the technology stack, and it is one of the most powerful technology stacks. This experiment thoroughly demonstrated the powerful potential of the Arbitrum technology stack.
