Arbitrum (ARB), a Layer 2 Optimistic Rollup solution for Ethereum, has surpassed the 1 billion transaction milestone, achieving this within three years of its mainnet launch in August 2021.
According to data from Blockscan, Arbitrum’s competitor, Base, has recorded 755 million transactions so far, while OP Mainnet has reached 347 million transactions.
Base, incubated by Coinbase, currently leads in daily transaction volume, with Arbitrum ranking second, according to data compiled by The Block.
Data from DeFiLlama shows that Arbitrum’s total value locked (TVL) remains the highest among Layer 2 solutions, reaching $2.5 billion, while Base follows at $2.2 billion.
How Arbitrum Works
Developed by Offchain Labs, Arbitrum is a Layer 2 solution that uses Optimistic Rollup technology. This technology creates an off-chain computational network that enables faster and more cost-effective transactions while maintaining the security of the Ethereum blockchain.
The “optimistic” element assumes that default transactions are valid and only verifies them if challenged. This reduces the computational load on the Ethereum mainnet, resulting in faster transaction processing and lower costs.
Arbitrum One includes active fraud proofs and a security mechanism that allows transactions to be challenged. However, it is still in its early stages and has not yet reached a fully decentralized state.
Offchain Labs operates several different Layer 2 networks on Ethereum, each with its own ecosystem. The first chain, Arbitrum One, is the company's flagship chain.
The second Layer 2, Arbitrum Nova, uses the AnyTrust protocol. This network provides an off-chain data availability layer to store transaction data and scale applications.
In October 2023, Offchain Labs released a tool that allows developers to launch their own Layer 3 blockchains through the Orbit software stack. Orbit allows developers to create their own blockchains by building on the Arbitrum One or Nova platform.
Source: https://tapchibitcoin.io/arbitrum-one-vuot-moc-1-billion-giao-dich-ke-tu-khi-ra-mat-vao-nam-2021.html
